Compagnie des Alpes // 2021 Universal Registration Document

3 REPORT ON CORPORATE GOVERNANCE Compensation of corporate officers

3.3 Compensation of corporate officers

3.3.1 COMPENSATION POLICY FOR CORPORATE OFFICERS In accordance with Article L. 22-10-8 of the French Commercial Code, the Annual Shareholders’ Meeting will be required to approve the compensation policy for corporate officers as decided by the Board of Directors at its meeting of 19 December 2022.

The Appointments and Compensation Committee comprises three members, including an independent Chairman and Director, each of whom have a good knowledge of compensation systems and market practices in this area. In order to prevent any conflict that may exist between the moral and material interests of the corporate officers and those of the Company, the Corporate Governance Charter has implemented certain measures and notably requires the Directors to inform the Board of Directors of any conflict. interests, even potential, in which they could be involved. Should they be unable to avoid a conflict of interest, even potential, they will refrain from taking part in discussions and from any decision-making in relation to the matters concerned. Moreover, the executive corporate officers concerned do not attend discussions concerning their compensation during meetings of the Appointments and Compensation Committee or the Board of Directors. Once defined, the compensation policy is submitted for approval to the Annual Shareholders’ Meeting ruling under the conditions of quorum and majority required for Ordinary Shareholders’ Meetings, pursuant to the provisions of the French Commercial Code. The compensation policy is implemented by the Board of Directors in accordance with the resolutions passed by the Shareholders’ Meeting. In view of the new governance put in place during financial year 2020/2021 and the separation of the functions of Chairman of the Board of Directors and Chief Executive Officer, the Board of Directors now establishes, on the proposal of the Appointments and Compensation Committee, (i) the annual compensation of the Chairman of the Board of Directors, (ii) the annual compensation of the Chief Executive Officer, (ii) the annual compensation of the Deputy Chief Executive Officer and (iv) the annual compensation of the Directors. When the Ordinary Shareholders’ Meeting does not approve the compensation policy submitted, the previous compensation policy, having already been approved at the Shareholders’ Meeting during the preceding financial year, continues to apply and the rejected compensation policy may be revised under the conditions provided for in Article L. 22-10-8 of the French Commercial Code . The Board of Directors then submits a revised compensation policy to the next Shareholders’ Meeting, indicating how the shareholders’ votes were taken into account and, if applicable, the opinions expressed at the Shareholders’ Meeting. In accordance with the provisions of Article L. 22-10-8 III of the French Commercial Code, the Board of Directors, on the advice of the Appointments and Compensation Committee, would have the right to waive the application of the compensation policy concerning fixed and/or variable annual compensation in the event of exceptional circumstances and if this exemption is temporary, in line with the Company’s interests and in order to guarantee the Company’s sustainability or viability. In application of Article R. 22-10-14 7° of the French Commercial Code, if, for example, a new Chief Executive Officer were to be appointed, the compensation policy applicable to the current Chief Executive Officer would be applied to the new Chief Executive Officer. taking into consideration his or her particular situation, i.e. any specificities concerning him or his duties. These provisions would also apply, if applicable, in the context of the renewal of the term of office of the Chief Executive Officer.

This compensation policy for corporate officers is divided into four distinct policies: (i) the compensation policy for the Chairman of the Board of Directors, (ii) the compensation policy for the Chief Executive Officer, (iii) the compensation policy for the Deputy Chief Executive Officer and (iv) the compensation policy for Directors. 3.3.1.1 Compensation policy for executive

corporate officers for the financial year 2021/2022 (Article L. 22-10-8 of the French Commercial Code) ( ex ante vote)

A. General principles relating to the determination, review and implementation of the compensation policy for executive corporate officers In accordance with order no. 2019-1234 of 27 November 2019, made pursuant to law no. 2019-486 of 22 May 2019 on the growth and transformation of companies (PACTE law), the following is the compensation policy for executive corporate officers, which describes all the components of the fixed and variable compensation of executive corporate officers, explains the decision-making process followed for its determination, revision and implementation, and which must be submitted every year, to the vote of the General Shareholders’ Meeting. Without prejudice to the powers of the Shareholders’ Meeting in this area, the determination of the compensation policy for executive corporate officers falls under the responsibility of the Board of Directors, which relies on the opinions and recommendations of the Appointments and Compensation Committee, in accordance with the Company’s Corporate Governance Charter, and provides reasons for the decisions taken in this area. The compensation policy for corporate officers is reviewed each year under the same conditions, after the closing of the financial statements. The policy set out below was prepared with the assistance of the Appointments and Compensation Committee at its meetings of 20 December 2021 and 17 January 2022 and was approved by the Board of Directors at its meeting of 19 January 2022, in accordance with Article L. 22-10-8 of the French Commercial Code. In the interests of transparency and balance, these bodies ensure that the compensation policy for executive officers takes into account all relevant principles of good governance, in particular those set out in the AFEP-MEDEF Code of Corporate Governance to which the Company refers. Each compensation package thus strives to be measured, balanced and fair while enabling the Company to attract, retain and motivate high-performance executives who contribute to its success. The compensation paid is assessed in the context of a specific business line and reference market. It is consistent with the compensation paid to executives with similar responsibilities in listed companies of the same size, revenue and business sector. This policy is in line with the Company’s corporate interest, contributes to its sustainability and is part of its commercial strategy.

70

Compagnie des Alpes I 2021 Universal registration document