Compagnie des Alpes // 2021 Universal Registration Document

5 FINANCIAL INFORMATION

Parent company financial statements

5.4.4 SPECIAL REPORT OF THE STATUTORY AUDITORS ON REGULATED AGREEMENTS

Shareholders’ Meeting to approve the financial statements for the financial year ended 30 September 2021 To the Shareholders’ Meeting of Compagnie des Alpes, As Statutory Auditors of the Company, we hereby present to you our report on regulated agreements.

It is our duty to inform you, based on the information provided to us, of the basic features, terms and procedures and justification, in terms of interest for the Company, of the agreements brought to our attention, or that we identified in the course of our work, without having to comment on their utility or validity or look for other agreements. It is your responsibility, pursuant to the provisions of Article R. 225-31 of the French Commercial Code, to assess the benefits accruing from these agreements when considering their approval. In addition, where applicable, we are required to communicate the information provided for in Article R. 225-31 of the French Commercial Code regarding the performance, during the past financial year, of any agreements already approved by the Shareholders’ Meeting. For this mission we have applied due diligence that we consider to be in compliance with the professional standards of the French Statutory Auditors’ association (Compagnie Nationale des Commissaires aux Comptes). This due diligence consisted of verifying the consistency of the information provided to us with the information in the underlying documentation from which it was taken. Agreements submitted to the Shareholders’ Meeting for approval Pursuant to Article L. 225-40 of the French Commercial Code, we have been informed of the following agreements entered into during the past financial year which were subject to the prior authorisation of your Board of Directors. State-Guaranteed Loan (SGL) – €269 million On 22 December 2020, the Board of Directors of Compagnie des Alpes (CDA) decided to authorise the signing of a State-Guaranteed Loan agreement by your Company acting as Porte-Fort , alongside the “Borrower” – its subsidiary CDA Financement – and its usual banking pool including Banque Populaire Auvergne Rhône-Alpes, Caisse Régionale du Crédit Agricole des Savoie, and Caisse d’Épargne et de Prévoyance Rhône-Alpes as Lenders. This €269-million State-Guaranteed Loan, signed on 23 December 2020, has an initial term of 12 months; it may be extended by the Compagnie des Alpes Group for a period ranging from one to five years. It is 90%-guaranteed by the French State. An annual interest rate will be applied from the second year, expressed by each Lender as a percentage that reflects the cost of financing the outstanding amount in accordance with the SGL regulations. The cost of the guarantee is applied from the first year and in the event of extension, in accordance with SGL regulations. The remaining capital due at CDA Financement, corresponding to your Company’s guarantee commitment, was €269 million at 30 September 2021. Persons concerned: Banque Populaire Auvergne Rhône-Alpes represented by Maria Paublant, Crédit Agricole des Savoie represented by Emmanuelle Jianoux, and Caisse d’Épargne et de Prévoyance Rhône-Alpes represented by Jérôme Ballet, Directors of Compagnie des Alpes. R eason justifying its interest for the Company: this loan is intended to finance the Group’s operating cash requirements stemming from the health emergency related to the Covid-19 pandemic in order to enable it to maintain its activity and jobs in France. Agreements already approved by the Shareholders’ Meeting Pursuant to Article R. 225-30 of the French Commercial Code, we have been informed that the following agreements, already approved by the Shareholders’ Meeting in previous financial years, continued to be performed in the past financial year. State-Guaranteed Loan (SGL) – €200 million On 25 June 2020, the Board of Directors of Compagnie des Alpes (CDA) decided to authorise the signing of a State-Guaranteed Loan agreement by your Company acting as Porte-Fort , alongside the “Borrower” – its subsidiary CDA Financement – and its usual banking pool including Banque Populaire Auvergne Rhône-Alpes, Caisse Régionale du Crédit Agricole des Savoie, and Caisse d’Épargne et de Prévoyance Rhône-Alpes as Lenders. This €200-million State-Guaranteed Loan, signed on 26 June 2020, has an initial term of 12 months; it may be extended by the Compagnie des Alpes Group for a period ranging from one to five years. It is 90%-guaranteed by the French State. An annual interest rate is applied from the second year, expressed by each Lender as a percentage that reflects the cost of financing the outstanding amount in accordance with the SGL regulations. The cost of the guarantee is applied from the first year and in the event of extension, in accordance with SGL regulations. During the financial year, the SGL was extended for a period of five years, i.e. until June 2026. The remaining capital due at CDA Financement, corresponding to your Company’s guarantee commitment, was €200 million at 30 September 2021. Services agreement with Parc du Futuroscope On 29 October 2015, the Board of Directors of Compagnie des Alpes (CDA) decided to authorise the implementation of a services agreement with Parc du Futuroscope (“Futuroscope”).

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Compagnie des Alpes I 2021 Universal registration document