Compagnie des Alpes // 2021 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

Borrowings break down by maturity as follows:

Up to 1 year 92.9 82.0 143.2 131.9

From 1 to 2 years

From 2 to 3 years

From 3 to 4 years

From 4 to 5 years

Over 5 years

TOTAL

(in millions of euros)

30/09/2021 (With IFRS 16)

1,013.8

351.4 341.0 242.7 231.3

170.0 159.6

113.8 105.7 121.0 109.6

75.5

210.9

30/09/2021 (Excluding IFRS 16)

851.6 841.2 664.2

68.0 68.2 58.7

95.3

30/09/2020 (With IFRS 16)

33.3 21.9

232.8 110.8

30/09/2020 (Excluding IFRS 16)

Bond debt The €260 million bond debt of Compagnie des Alpes breaks down as follows: l a loan of €65 million issued on the USPP market (“USPP”), under French law, for an average period of 10 years and final maturity at 12 years; l a loan of €45 million issued on the Euro PP market for a period of 8 years; l a loan of €50 million issued on the US Private Placement (“USPP”) market, under French law, for an average period of 10 years and final maturity at 12 years; l a loan for an amount of €100 million issued in May 2014 on the Euro PP market, with a maturity of ten years. At 30 September 2021, the fair value of the four bonds was as follows: l 2014 bond issue: €105.5 million; l 2017 Euro PP loan: €46.3 million; l 2017 USPP loan: €52.7 million; l 2019 USPP loan: €75.4 million. Depreciable bank debt The depreciable bank debt, in the amount of €262.75 million, breaks down as follows: l a redeemable term loan of €80 million fully mobilised on 31 October 2017, of which the outstanding capital was equal to €44 million as at 30 September 2021. This loan was taken out with the Group’s long-standing banking partners, plus a Chinese bank. This loan has a maturity of five years for 50% and six years for the remaining 50%; l a redeemable term loan in the amount of €25 million fully mobilised on 18 October 2017, of which the outstanding capital was equal to €18.75 million as at 30 September 2021. This loan was granted by a French banking partner, with a final maturity of 7 years; l a State-guaranteed Loan (SGL) in the amount of €200 million mobilised on 29 June 2020 and taken out with the Group’s long- standing banking partners, for an initial period of 12 months. This SGL was extended in June 2021 for a period of 5 years. Initial depreciation of €25 million will take place in December 2022.

Bank debt in fine The in fine bank debt of €274 million breaks down as follows: l a term loan of €5 million mobilised on 23 March 2020 and granted by an Austrian partner with a final maturity of six years; l a State-guaranteed Loan (“Season” SGL) in the amount of €269 million mobilised in December 2020 and taken out with the Group’s long-standing banking partners, for an initial period of 12 months. Market financing Compagnie des Alpes has a short-term marketable securities issuance programme (Negotiable European Commercial Paper – NEU CP), for a maximum amount of €240 million, which, it should be recalled, was registered on 4 February 2019 with Banque de France. This programme is backed by a revolving credit facility of €250 million (expiring in May 2023), to which a swingline sub-limit of €80 million has been added. The programme is run by four Investment Agents (BNP Paribas, CACIB, CIC and Société Générale), and the Domiciliary Agent is CACEIS Corporate Trust. The outstanding amount at 30 September 2021 was €36 million. Revolving bank debt The Group has a revolving credit facility for a maximum amount of €250 million expiring on 6 May 2023. The revolving credit facility had not been drawn down at 30 September 2021. Furthermore, with the aim of boosting the liquidity of the NEU CP programme, a swingline sub-limit of €80 million was added to the revolving credit. Hedging instruments The Group arranged interest rate hedging instruments (borrowings- backed) for its floating-rate commitments. At 30 September 2021, the hedges implemented amounted to €44 million. The hedging instruments used consist of two fixed-rate swaps, representing hedged debt of €44 million, namely 0.35% maturing in 2023 and 0.27% maturing in 2022, activated with the mobilisation of the €80-million financing on 31 October 2017 (amortised in the amount of €36 million at 30 September 2021). The fair-value impact of debt hedging instruments is recognised under borrowings from credit institutions in the amount of -€0.1 million.

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Compagnie des Alpes I 2021 Universal registration document