Compagnie des Alpes // 2021 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

5.3.2 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

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NOTE 6 INFORMATION ON THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION

NOTE 1 ACCOUNTING PRINCIPLES AND POLICIES

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NOTE 2 CAPITAL AND RISK MANAGEMENT

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NOTE 7 INFORMATION ON THE STATEMENT OF CASH FLOWS

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NOTE 3 ORGANISATIONAL STRUCTURE OF THE COMPAGNIE DES ALPES GROUP

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NOTE 8 IFRS 16 ON LEASES

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NOTE 4 SCOPE OF CONSOLIDATION

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NOTE 9 OTHER DISCLOSURES

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NOTE 5 INFORMATION ON THE CONSOLIDATED INCOME STATEMENT

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Parent company The Group’s parent company is Compagnie des Alpes, whose headquarters are located at 50-52 boulevard Haussmann, 75009 Paris, France. Group overview The Compagnie des Alpes Group’s main business activity is the operation of leisure facilities. It operates mainly in Ski areas and Leisure parks. The consolidated financial statements for the 2020/2021 financial year were approved and authorised for publication by the Board of Directors on 6 December 2021. Figures are in thousands of euros, unless otherwise indicated. Highlights of the year Covid-19 crisis The financial year ended 30 September 2021 was marked, on the one hand, by long periods of closure imposed by the health crisis and, on the other hand, by a dynamic recovery of the Leisure parks’ activity in the summer. The financial year breaks down into three distinct periods: l a 1 st half-year during which all Leisure parks and Ski areas could only open for a few days in October and were still closed at the end of the period; l a 3 rd quarter during which the sites gradually reopened, staggered between early May and early June, but with health restrictions in place; l then a 4 th quarter during which activity was particularly dynamic. The Group’s business activities As a result, Compagnie des Alpes’ consolidated revenue for the 2020/2021 financial year amounted to €240.6 million, compared with €615.6 million for the same period of the previous financial year, i.e. a decrease of 60.0% (-58.8% on a comparable scope) (1) . Revenue for the Ski areas for the 2020/2021 financial year totalled €11.4 million, compared to €360.2 million for the same period of the previous financial year. It includes the proceeds of a land sale in the amount of €2.6 million during the 3 rd quarter. Revenue for the Leisure parks amounted to €221.7 million, which is fairly close to that of the previous financial year (€232.1 million, i.e. -4.5%), while the number of operating days was 6% lower than last year and despite the closure of Walibi Belgium and Aqualibi from mid- July, following severe flooding.

Revenue for Holdings and supports in the 2020/2021 financial year stood at €7.4 million, compared with €23.4 million for the previous financial year. This decrease mainly reflects the impact of the health crisis on Travelfactory’s business. Expense reduction Given the efforts made by the Group since the beginning of the financial year, Compagnie des Alpes confirms that it has been able to offset the cumulative revenue shortfall of its Ski areas and Leisure parks by reducing its operating expenses by more than 30% (excluding the compensation scheme). Annual Capex Budget As the Group had promised, net capital expenditure remained under control: €143.3 million for 2020/2021, versus €175.1 million for the previous financial year. After recognition of the proceeds from the disposal of Deux Alpes assets totalling €51 million, the balance stood at €92.3 million. This amount reflects a sustained support effort to revive activity in the regions in which the Group operates. Aid schemes In response to the significant difficulties experienced by companies operating in the tourism sector, the French government set up aid schemes from which the Group has benefited. As such, in December 2020, upon the announcement of the closure of ski lifts in order to combat the spread of the Covid-19 epidemic, the French government introduced the principle of an exceptional support scheme for ski lift operators whose business was particularly affected by the Covid-19 epidemic in France. The purpose of this scheme is to partially offset the loss of income or revenue incurred by these operators. On 19 March, the European Commission approved the implementation of this aid scheme aimed at partially compensating French ski lift operators for the losses incurred as a result of the Covid-19 pandemic. This partial compensation of fixed costs was then the subject of Decree No. 2021-311 published on 25 March. Its net impact on pre-tax cash flows at 30 September 2021 amounted to €168.3 million. In addition, partial compensation for fixed costs has been granted to all companies in the tourism sector whose activity has been negatively impacted by the health restrictions. Consequently, the leisure parks and tour operators were able to benefit from this aid scheme and from the solidarity fund for a total amount of €10.6 million.

(1) Comparable scope: excluding Deux Alpes Loisirs.

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Compagnie des Alpes I 2021 Universal registration document