Compagnie des Alpes // 2021 Universal Registration Document

INTERACTIONS WITH ECOSYSTEMS

COOPERATE WITH ALL MOUNTAIN STAKEHOLDERS

As it operates the ski lifts, but also most often the ski slopes, Compagnie des Alpes works with all the players in the resort. Its activities and projects contribute directly and indirectly to the dynamism and economy of the resorts and the ecosystems of the regions where it is established.

the Group has its own network of real estate agencies and the distribution force of its Travelski subsidiary. SPECIFIC STAKEHOLDERS As a local economic player and provider of jobs, Compagnie des Alpes works very closely with local authorities, tourist offices, accommodation providers, ski schools, urban transport operators, owners, etc. Ski lifts are mainly in public spaces and on natural sites. Projects are subject to procedures and authorisations from government bodies (DREAL, DDT, STRMTG, etc.) or local authorities, as well as the opinions of local associations. The Group’s companies play an active role within the inter-professional chamber Domaines Skiables de France . POSITION IN THE VALUE CHAIN The sale of ski passes is either done directly, or through intermediaries such as major accommodation providers, tourism professionals or tour operators. For the ski season, excluding the Covid context, the customer base of Compagnie des Alpes resorts is around 40% foreign (mainly the United Kingdom, Belgium and the Netherlands).

THE SPECIFIC FRAMEWORK FOR PSC The management of operations is entrusted to Group companies through Public Service Concessions (PSC) granted by the local authorities and running for several decades. A ski area may operate under several PSCs. INVESTMENTS Dedicated to ski lifts, the development of Ski areas and slopes, and the production of artificial snow and grooming equipment, Compagn i e des Al pes ’ i nvestments contribute to the appeal of the resorts and enrich the customer experience. They are instrumental for the renewal of PSC contracts. Investments in equipment are mainly made outside of the four to five months of winter, which constitutes the majority of the Group’s revenue. In return, Compagnie des Alpes receives, on the basis of an approved price list, the proceeds from the sale of ski passes, which account for almost all of the revenue of the Group’s Ski areas. REAL ESTATE ASSETS OF THE RESORTS The Group works on accommodation, adopting a facilitator and occasionally an investor role with a view to increasing the amount and qua l i ty of tour i st accommodation, and its occupancy rate. In order to boost the marketing of resort beds,

Development of new activities In 2021, the acquisition of EVOLUTION 2 expanded the offering of outdoor activitie s. At its Grand Massif site, the Group has also launched a pilot project to diversify winter and summer activities (ziplines, mountain karts, mountain biking, unique accommodation, etc.). The multi-site initiatives were strengthened with the Multicimes Pass for accommodation London and the Tarentaise Valley. Lastly, the deployment of Impact, a tool for snow modelling, in all resorts, is almost finalised. It is used to produce the “right amount” of artificial snow and define investment strategies in ski lifts, and is shared with partners . and the re-establishment of the direct rail link between

THE FIVE PRIORITIES FOR THE SKI AREAS

Long-term safeguarding of business activity 1

Enhancing the ski offering and the customer experience 2

Sustainable development of business activities 3

Boosting resort visitor numbers 4

Diversification of leisure activities in the mountains 5

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