Compagnie des Alpes // 2021 Universal Registration Document

3 REPORT ON CORPORATE GOVERNANCE

Composition of administrative and management bodies

The table below shows the changes in the composition of the Board of Directors during the past financial year and up to 28 January 2022.

Family name/Company name

Date of actual departure Date of end of term

During the past fiscal year Directors whose appointment by co-option has been ratified (by AOSM (1) of 25 March 2021) Directors whose term of office has been renewed (by AOSM (1) of 25 March 2021) Directors whose permanent representative has been replaced

Antoine SAINTOYANT (2) Dominique MARCEL Carole MONTILLET Sofival

N/A N/A N/A N/A

AOSM 2023 AOSM 2025 AOSM 2025 AOSM 2025 AOSM 2022 AOSM 2023

28/01/2021 01/05/2021

Caisse des Dépôts et Consignations (3) Caisse d’Épargne Rhône-Alpes (4)

After the end of the previous fiscal year Newly-appointed Director representing employees Benoît SPRIET

N/A

15 November 2025

Directors whose permanent representative has been replaced

Caisse des Dépôts et Consignations (5) Caisse d’Épargne Rhône-Alpes (6) Crédit Agricole des Savoie Capital (7)

21/10/2021 01/01/2022

AOSM 2022 AOSM 2023 AOSM 2022

Directors appointed by co-option

N/A

(1) Annual Ordinary Shareholders’ Meeting. (2) Antoine Saintoyant was co-opted by the Board of Directors on 19 November 2020 on the proposal of the Caisse des Dépôts et Consignations (CDC) to replace Mr Serge Bergamelli, who resigned as of that date. Subsequently, Antoine Saintoyant was appointed Vice-Chairman of the Board of Directors at the Board meeting of 28 January 2021, replacing Virginie Fernandes for the duration of her term as Director. (3) Carole Abbey replaced Virginie Fernandes as Permanent Representative of Caisse des Dépôts et Consignations on the Board of Directors with effect from 28 January 2021. (4) Guillaume Iserentant replaced Jérôme Ballet as Permanent Representative of Caisse d’Épargne Rhône-Alpes on the Board of Directors as fr om 1 May 2021. (5) Marion Cabrol replaced Carole Abbey as Permanent Representative of Caisse des Dépôts et Consignations on the Board of Directors as from 21 October 2021. (6) Alain Denizot replaced Guillaume Iserentant as Permanent Representative of Caisse d’Épargne Rhône-Alpes fr om 1 January 2022. (7) Crédit Agricole des Savoie Capital was appointed by co-option as Director to replace Crédit Agricole des Savoie by decision of the Board of Directors of 19 January 2022. 3.1.1.2 Composition of the Board of Directors and its committees

l Principle No. 2: Directors are elected by all of the shareholders and must act in all circumstances in CDA’s corporate interest, serving the long-term value creation strategy that is part of a constant desire to respect stakeholders such as employees, shareholders, customers, partners and, of course, public authorities, and make every effort to ensure that CDA’s activities are conducted legally, responsibly, transparently and ethically. The Board of Directors may consist of no more than eight members and must conform with the composition of the shareholding structure and the size and nature of CDA’s activities. Preference is given to representation of long-term shareholders (stakes held in pure registered or administered form). Caisse des Dépôts et Consignations (CDC) – the Leading Shareholder with a stake greater than or equal to one third – thus has five Directors (including the Chairman), namely: l Dominique Marcel, Chairman;

The composition of the Board of Directors and its three committees follows several principles set out in the Corporate Governance Charter. The Charter, in force since the Company’s privatisation in 2004 and amended several times since (the last time on 31 May 2021) to include new governance provisions, is available in its entirety on the Compagnie des Alpes website at the following address: www. compagniedesalpes.com, under the heading “Governance”. It serves as the internal regulations of the Board of Directors. Given the presence of a Leading Shareholder (Caisse des Dépôts et Consignations), the Charter is intended to promote a democratic and collective representation of shareholders and take into account corporate interests, mainly through the appointment of independent Directors. Principles of Board composition In total, the Charter contains six principles governing the composition of the Board of Directors. These principles are summarised below. As a guiding principle, the Board endeavours to ensure that its composition and that of the committees is well balanced, in particular in terms of the range of skills present and the number of men and women and different nationalities represented. l Principle No. 1: based on the recommendations of the Appointments and Compensation Committee, the Board of Directors submits to the Ordinary Shareholders’ Meeting a list of candidates chosen in accordance with the principles of the Charter, in view of their competence and their potential contribution to the Board’s work and to the creation of long-term value, while taking into consideration social and environmental responsibility issues.

l Antoine Saintoyant, Vice-Chairman; l CDC, represented by Marion Cabrol; l Clothilde Lauzeral; l Arnaud Taverne.

Other shareholders that hold their stakes in pure registered or administered form and wish to be represented on the Board of Directors must submit their request to the Chairman. All requests are examined by the Appointments and Compensation Committee, which makes recommendations to the Board of Directors in the light of the six principles set out in the Charter. l Principle No. 3: the number of Board members is set at twelve (set number of members), including four independent Directors. Since the conditions set out in Article L. 22-10-7 of the French

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Compagnie des Alpes I 2021 Universal registration document