Compagnie des Alpes // 2021 Universal Registration Document

3 REPORT ON CORPORATE GOVERNANCE Compensation of corporate officers

D. Compensation policy for the Deputy Chief Executive Officer for the financial year 2021/2022 The compensation policy for the Deputy Chief Executive Officer is discussed by the Appointments and Compensation Committee, which then submits an opinion to the Board of Directors. The Deputy Chief Executive Officer does not take part in discussions concerning his compensation during meetings of the Appointments and Compensation Committee or the Board of Directors. a) Fixed portion of compensation for 2021/2022 The annual fixed compensation of the Deputy Chief Executive Officer is set at €250,000. b) Variable portion of the compensation for 2021/2022 The variable portion of the Deputy Chief Executive Officer’s annual compensation is represented by annual bonuses, linked to the achievement of both qualitative objectives (governing 50% of his variable portion) and quantitative objectives (governing the remaining 50%) which are set for each financial year and which are based on financial and non-financial criteria related in particular to the Company’s social and environmental responsibility (as described below). It is defined and paid according to the same methods as those applicable to the Chief Executive Officer described above (definition of the objectives by the Board of Directors on the proposal of the Appointments and Compensation Committee, assessment of the achievement of the objectives after the close of the financial year on the recommendation of the Appointments and Compensation Committee and decision to allocate all or part of the variable part on the basis of this opinion by the Board of Directors, the variable portion liquidated and paid during the following financial year, following approval by the Annual Shareholders’ Meeting). Variable compensation in respect of financial year 2021/2022 is attached to his total fixed compensation. It is between 0% and 50% of his fixed compensation ( i.e. a maximum of €125,000). The quantitative objectives for 2021/2022 under which the variable portion of the compensation of the Deputy Chief Executive Officer is based are defined as follows: (i) from 0 to 25% ( i.e. a maximum of €62,500) according to the following quantitative criteria: l from 0 to 12.5% based on Group EBITDA for the fiscal year, l from 0 to 8.5% based on Group net debt calculated at the end of the fiscal year, l from 0 to 4% based on the free cash flow for the financial year. The context of the health crisis linked to Covid-19 can have an impact on the quantitative objectives, independently of the performance of executives. In this context, at its meeting of 19 January 2022, the Board of Directors decided to allow itself to adjust, on a discretionary basis, the quantitative objectives governing the variable portion of the compensation of the executive corporate officers if exceptional circumstances outside the Company have a material adverse effect on the achievement of said objectives, on the recommendation of the Appointments and Compensation Committee. This provision aims to allow the Board of Directors to ensure a balance between the compensation policy, the performance of executive corporate officers and the Group’s performance.

The qualitative objectives for 2021/2022 governing the allocation of the variable portion of the compensation of the Deputy Chief Executive Officer were defined as follows: 1. Implement new growth drivers, in particular: a. Apply the “Master Planning” approach to summer projects over at least two of the Group’s mountain areas, b. Accelerate the development of Parc Astérix (hotels) and Bellewaerde, c. Boost distribution and accommodation in mountain areas via the organisation and deployment of a new “Distribution & Hospitality” division; 2. Continue to deploy new CSR ambitions for the Group (accuracy and implementation of roadmaps), in particular: a. in terms of the environment, commit the action plan on the deployment of 0 net carbon, b. in terms of the social aspect, commit to an action plan to reduce accidents; 3. Support work on the adoption of a raison d'être by the end of 2022 including stakeholders and involve Group employees in the approach; 4. Define a plan of succession for the Group’s main managers and communicate to the Company’s Appointments and Compensation Committee. The Appointments and Compensation Committee will assess the achievement of these objectives after the end of the 2021/2022 financial year, and on the basis of this review, the Board will decide to allocate all or part of the variable portion to the Deputy Chief Executive Officer. The variable portion allocated for financial year 2021/2022 will be liquidated and paid during the following financial year, after approval by the Annual Shareholders’ Meeting called to vote on the financial year ended on 30 September 2022, in accordance with Article L. 22- 10-8 of the French Commercial Code. c) Other items of compensation for the 2021/2022 financial year: The Deputy Chief Executive Officer will also benefit from the other components of compensation awarded to the Chief Executive Officer, namely: l the employee profit-sharing agreement of Compagnie des Alpes; l the provision of a company car; l the benefit of a defined contribution plan; l the benefit of the supplementary health and personal protection plans of Compagnie des Alpes; l severance pay; l private unemployment insurance from the Association pour la Garantie Social des Chefs et Dirigeants d’Entreprise – GSC. The conditions applicable to these items of compensation will be identical to those applicable to the Chief Executive Officer.

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Compagnie des Alpes I 2021 Universal registration document