Compagnie des Alpes // 2021 Universal Registration Document

5 FINANCIAL INFORMATION

Parent company financial statements

5.4.2 NOTES TO THE PARENT-COMPANY FINANCIAL STATEMENTS The notes to the parent-company financial statements of Compagnie des Alpes SA for the 12-month period ended 30 September 2021 contain additional information on the statement of financial position, which totals €841,619 thousand, and the income statement, which shows a deficit of €79,217 thousand.

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NOTE 5 OFF-BALANCE SHEET COMMITMENTS

207

NOTE 1 KEY EVENTS DURING THE FINANCIAL YEAR 199

NOTE 6 EVENTS AFTER THE REPORTING DATE

207

NOTE 2 ACCOUNTING PRINCIPLES, RULES AND POLICIES

199

NOTE 7 EARNINGS AND OTHER KEY INFORMATION OVER THE PAST FIVE REPORTING PERIODS

207

NOTE 3 NOTES RELATING TO STATEMENT OF FINANCIAL POSITION

200

NOTE 4 NOTES RELATING TO THE INCOME STATEMENT

206

Note 1

Key events during the financial year

CONSEQUENCES OF THE COVID-19 PANDEMIC The Covid-19 pandemic and the lockdown measures imposed by the governments of the countries in which the Group operates, once again led to a complete halt in the activity of the Group’s business segments from October 2020. The winter season of the Ski areas was definitively cancelled (total closure) and the activity of the Leisure parks was suspended until reopening date between the end of February (Canada), May (Belgium, Netherlands, Austria) and early June (France). This pandemic has had a very significant negative impact on the Group’s results and consequently led to the recognition of impairment losses on financial investments amounting to €60.5 million as of 30 September 2021. EVOLUTION OF GOVERNANCE A Board of Directors’ meeting was held on 25 March, in the wake of the Shareholders’ Meeting and decided, in line with its decision of 28 January, to approve the separation of duties of the Chairman and Chief Executive Officer. This decision was taken in the context of the expiry of the term of office of Dominique Marcel and the need to establish a new governance for the Group.

Given the context of the crisis, the Board wanted to ensure that there was stability in the management of the Company and decided that it was in the best interest of the Company for a managerial transition to take place gradually. The Board therefore decided to renew the term of office of Chairman and Chief Executive Officer Dominique Marcel until 31 May 2021 and to appoint Dominique Thillaud as Deputy Chief Executive Officer until that date. To ensure continuity in the Company’s governance, Dominique Marcel was appointed Chairman of the Board of Directors as of 1 June. Dominique Thillaud was appointed Chief Executive Officer and Loïc Bonhoure was appointed Deputy Chief Executive Officer with effect from the same date, each for a term expiring at the end of the Annual Shareholders’ Meeting called to approve the financial statements for the year ended 30 September 2024. In this context, the departure of Dominique Marcel from his position as Chairman and Chief Executive Officer on 31 May constituted a triggering of the severance pay as defined by the Board of Directors on 19 March 2009 and renewed in 2013 and in 2017. The Board of Directors’ meeting of 28 January 2021 noted that the performance criteria governing it had been met. As a result, the severance pay was recognised for the financial year 2020/2021 for an amount of €1.16 million including social security charges but will not be paid until the financial year 2021/2022.

Note 2

Accounting principles, rules and policies

2.1 INTANGIBLE ASSETS Software is amortised on a straight-line basis over one to three years. However, a period of five years may be used for significant projects (CRM, datalakes, and sales funnels).

The annual financial statements are presented in accordance with the generally accepted accounting principles in France. The basic method used to measure assets and liabilities was the historical cost method. The main policies applied are as follows:

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Compagnie des Alpes I 2021 Universal registration document