Compagnie des Alpes // 2021 Universal Registration Document

3 REPORT ON CORPORATE GOVERNANCE Compensation of corporate officers

Change over five years

2016/2017 2017/2018 2018/2019 2019/2020 2020/2021

Loïc Bonhoure- Deputy Chief Executive Officer (from 1 st June 2021) Annual compensation paid to the Deputy Chief Executive Officer (1) Change in annual compensation paid to the Deputy Chief Executive Officer

€84,771

N/A

EBITDA (in thousands of euros)

70,568

-25%

EBITDA change

N/A

Change in average annual compensation paid to CDA SA employees (2)

Deputy CEO/Average Ratio

3.04 N/A 3.76

Change in RATIO as% of average compensation paid to employees

Deputy CEO/Median ratio

Change in RATIO as% of median compensation paid to employees N/A (1) The annual compensation paid to the Deputy Chief Executive Officer during the financial year (from 1 June 2021) includes the following compensation components: fixed compensation, variable compensation, benefits in kind and profit-sharing. (2) The annual compensation paid to Company employees (excluding corporate officers) during the financial year on the basis of a full-time equivalent within the Company CDA SA includes the following items of compensation: fixed compensation, variable compensation, benefits in kind, profit-sharing and free performance shares.

The graph below shows the change over the last five financial years in the annual compensation paid to the Chairman and Chief Executive Officer, who held office up to the 1 June 2021, the average annual compensation paid to the Company’s employees, the Group EBITDA performance criterion and the two equity ratios referred to above. The equity ratios represent the differences between the compensation of the Chairman and Chief Executive Officer and the average and median annual compensation paid to CDA SA employees. Due to changes in governance since 25 March 2021, a chart showing the compensation of the Chief Executive Officer, the Deputy Chief Executive Officer and the Chairman of the Board of Directors over the last five financial years is not relevant in view of the criteria of Article L. 225-37-3 of the French Commercial Code.

The annual compensation of CDA SA employees decreased by 14% between financial years 2016/2017 and financial years of 2020/2021. During the same period, EBITDA also fell by 66% following the health crisis. As a result, the gap between the average compensation of employees and that of the Chairman and Chief Executive Officer has narrowed by 13% over the last five financial years. The compensation of CDA SA employees has also changed in line with the CDA Group’s EBITDA over the last few years (excluding the specific results for 2020/2021 linked to the impact of the exceptional health situation). EBITDA is a performance criterion representative of the evolution of the Group’s results, and determines the achievement of the quantitative objectives of the employees and of the Chairman and Chief Executive Officer, as well as the profit-sharing budget at CDA SA. It should be noted that in 2020/2021, the Group’s EBITDA was lower than in previous years and will impact the compensation of employees and of executives due in respect of 2020/2021 and paid during the next 2021/2022 financial year.

CHANGES IN COMPENSATION, EQUITY RATIOS AND PERFORMANCE OF THE COMPANY

8

700,000

7

600,000

6

500,000

5

400,000

4

300,000

3

Equity ratios

200,000 Compensation and EBITDA

2

100,000

1

0

0

2017/2018

2016/2017

2018/2019

2019/2020

2020/2021

Chairman and CEO Compensation / Average Employee Compensation Ratio Annual compensation paid to the Chairman and CEO Chairman and CEO Compensation / Median Employee Compensation Ratio

Average annual compensation paid to CDA SA employees EBITDA (in thousands of euros)

87

Compagnie des Alpes I 2021 Universal registration document