Compagnies des Alpes // 2019 Universal Registration Document

5 FINANCIAL INFORMATION

Activities and results of S.A. Compagnie des Alpes

5.2.4 DIVIDEND POLICY

The dividend is set each year by the Board of Directors at its December meeting. Compagnie des Alpes dividends paid out for the last three fi scal years (which allow individual shareholders domiciled in France to take a tax deduction) were as follows: l fi scal year 2015/2016: Dividend per share of €0.40 paid in cash on 16 March 2017;

l fi scal year 2016/2017: Dividend per share of €0.50 paid in cash on 8 March 2018; l fi scal year 2017/2018: Dividend per share of €0.65 paid in cash on 14 March 2019. The Board of Directors proposed to the Shareholders’ Meeting to pay the shareholders a dividend of €0.70 per share for 2018/2019.

5.2.5 INFORMATION ON PAYMENT PERIODS

In accordance with the provisions of Article D. 441I.-1 and -2 of the French Commercial Code, we hereby disclose information on the time taken to settle accounts payable, and receivables from customers.

Article D. 441 I.-1: invoices received

Article D. 441 I.-2: invoices issued

Total 1 day and more 0 days

Total 1 day and more

1 to 30 days

31 to 60 days

61 to 90 days

91 days and more

1 to 30 days

31 to 60 days

61 to 90 days

91 days and more

0 days

(in thousands of euros)

(A) Late payment instalments Number of invoices concerned 434

21

57

39

Total amount of invoices concerned (including taxes) Percentage of total amount of purchases

-1,347

-231

0

0

0 -231 -2,027

11

15

0

95

121

(excluding taxes) for the fi scal year

-4.34% -0.74% 0.00% 0.00% -0.37% -1.11%

Percentage of pre-tax sales for the fi scal year

-5,05% 0,03% 0,04% 0,00% 0,24% 0,30%

(B) Invoices excluded from (A) relating to disputed or unrecognised liabilities and claims Number of invoices excluded 0 0 0 0 64 64 Total amount of the invoices excluded 0 0 0 0 -115 -115 (C) Late payment instalments Payment periods used for calculating late Payment Period of 45 days from the date of receipt of invoice

Period of 45 days from the date of issue of invoice

124

Compagnie des Alpes I 2019 Universal registration document