Compagnie des Alpes // 2021 Universal Registration Document

3 REPORT ON CORPORATE GOVERNANCE

Composition of administrative and management bodies

Executive Management is keen to maintain parity within its governing body and ensures that the composition of the governing bodies of each subsidiary is mixed. The results in terms of gender balance within both the Executive Committee and the Operational Committee (the Operational Committee corresponds to the 10% of positions with the highest responsibility) are detailed in Chapter 4, section 4.2.4.1 “Gender equality at work”. More generally, the Executive Management is committed to promoting increasing diversity and makes numerous efforts to achieve a good gender balance. Under its leadership, the Group’s Human Resources Department thus launched and deployed an active approach to promote gender equality, the results of which are analysed and reviewed annually by the Board of Directors. Each site has a gender equality agreement and a gender equality guide was rolled out during the financial year (see Chapter 4, section 4.2.4.1 “Gender equality at work”). Other rules and characteristics relating to the Board’s composition and Directors Age limit: at least two-thirds of the Board members must be less than seventy (70) years of age. Ownership of Company shares: the Corporate Governance Charter contains a provision on the minimum number of shares to be held by Directors by means of reinvestment of part of the compensation they receive in respect of their office (formerly Directors’ fees). With the exception of Board members who do not personally receive compensation in respect of their role as Directors, and to demonstrate a commitment to the Company, each Director must personally hold at least 300 shares in Compagnie des Alpes. If necessary, the Directors will reinvest part of the compensation linked to their office in the Company, up to a minimum of half of the net amount of said compensation received in respect of a fiscal year, until they reach the aforementioned quota. In the interests of transparency, Directors are also advised to put all of their shares in a registered or administered account, with a minimum of 300 shares.

having had responsibility for monitoring and managing all the Caisse des Dépôts group’s activities in the tourism sector. In accordance with the AFEP-MEDEF Corporate Governance Code, the members of the Audit and Finance Committee (Alain Denizot, permanent representative of Caisse d’Épargne Rhône-Alpes, Clothilde Lauzeral, Rachel Picard) (1) all have proven specific skills in finance or accounting. Rachel Picard has expertise in the tourism and digital sector, but also in the mountain and leisure parks sector, notably internationally. Marion Cabrol, Antoine Gosset-Grainville, Alain Denizot, Maria Paublant, Emmanuelle Jianoux and Clothilde Lauzeral have recognised expertise in the field of financing. Arnaud Taverne also has expertise in the field of financing and more specifically in real estate. Clothilde Lauzeral and Antoine Saintoyant also have proven expertise in strategy and mergers and acquisitions. Antoine Gosset-Grainville is also a practising corporate lawyer. Jean-François Blas and Carole Montillet have extensive knowledge of the mountain sector. Also, the Board of Directors has six female members (excluding Sophie Sasinka, Director representing employees), i.e. 50% women: Marion Cabrol, Maria Paublant, Rachel Picard, Clothilde Lauzeral, Carole Montillet et Emmanuelle Jianoux. Moreover, in accordance with Law No. 2018-771 of 5 September 2018 (relating to the freedom to choose one’s professional future), Compagnie des Alpes strives to achieve gender equality within its executive body (the Executive Committee) and in positions of high responsibility. In accordance with the AFEP-MEDEF Code, the Board of Directors applies a diversity policy to its governing body, on the proposal of Executive Management. In this respect, the Executive Committee of Compagnie des Alpes, which assists the Chief Executive Officer and the Deputy Chief Executive Officer, comprises eight members, four of whom are women (Laurence Piroué, Sandra Picard, Marie Artaud-Dewitte and Alexia Cadiou), i.e. 50% women on the Board at 30 September 2021, compared to 38% at 30 September 2020 (see section 3.1.2.2 “The Executive Committee”).

(1) Rachel Picard has informed the Chairman of the Board of Directors of her resignation as Director with effect from the Annual Shareholders’ Meeting to be held on 10 March 2022 to approve the financial statements for financial year ended 30 September 2021. At its meeting of 19 January 2022, the Board of Directors, on the recommendation of the Appointments and Compensation Committee, decided to submit the candidacy of Anne Yannic to the vote of the next Shareholders’ Meeting, to replace Rachel Picard as Independent Director for a term of four years and (ii) appointing her, subject to the favourable vote of the Shareholders’ Meeting, at the following meeting of the Board of Directors, as a member of each of the specialised committees where Anne Yannic can contribute her experience.

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Compagnie des Alpes I 2021 Universal registration document