Compagnies des Alpes // 2019 Universal Registration Document

5 FINANCIAL INFORMATION

Parent company financial statements

Report on corporate governance We attest to the existence, in the report of the Board of Directors on corporate governance, of the information required by Articles L. 225-37-3 and L. 225-37-4 of the French Commercial Code. Concerning the information provided in application of the provisions of Article L. 225-37-3 of the French Commercial Code on the compensation and bene fi ts paid to the corporate o ffi cers as well as the commitments made to them, we checked their consistency with the fi nancial statements or with the data used to prepare these fi nancial statements and, as the case may be, with the items received by your company from companies controlling your company or controlled by it. On the basis of this work, in our opinion, these disclosures are accurate and fair. Concerning information relating to the elements that your company considered potential key factors in the event of a purchase or exchange takeover bid, provided in application of the provisions of Article L. 225-37-5 of the French Commercial Code, we checked their compliance with the documents from which they originate that were provided to us. On the basis of this work, we have no comment to make on this information. Other information In accordance with the law, we have determined that the information relating to the investments and control and to the identity of holders of share capital or voting rights has been presented to you in the management report. Information under other legal and regulatory obligations Appointment of the Statutory Auditors We have been appointed Statutory Auditors of Compagnie des Alpes by the Shareholders’ Meeting, in 1998 in the case of Mazars and in 1991 in the case of PricewaterhouseCoopers Audit. On 30 September 2019, the fi rm Mazars was in the 22nd year of its mission without interruption and the fi rm PricewaterhouseCoopers Audit was in its 29th year, i.e. 22 and 26 years respectively since the company’s shares were listed for trading on a regulated market. Responsibilities of the management and the persons responsible for corporate governance with regard to the annual financial statements It is the responsibility of the management to prepare annual fi nancial statements that present a true and fair view of the company in accordance with French accounting rules and principles, as well as to implement the internal control system it deems necessary to ensure the annual fi nancial statements are free from material misstatements, whether due to fraud or error. At the time of preparation of the annual fi nancial statements, it is the responsibility of the management to assess the company’s ability to continue its operations, to present in these fi nancial statements, where applicable, the necessary information relating to business continuity and to apply the accounting concept of going concern, except where the company plans to liquidate or cease trading. It is the responsibility of the Audit Committee to monitor the process by which fi nancial information is prepared and the e ffi ciency of the internal control and risk management systems, as well as, where applicable, that of the internal audit, with regard to procedures for preparing and processing accounting and fi nancial information. The annual fi nancial statements have been adopted by the Board of Directors. Responsibilities of the Statutory auditors regarding the audit of the annual financial statements Audit objective and approach It is our responsibility to prepare a report on the annual fi nancial statements. Our objective is to obtain reasonable assurance about whether the annual fi nancial statements taken as a whole are free from material misstatement. Reasonable assurance corresponds to a high level of assurance but does not guarantee that an audit performed in accordance with professional standards of practice will systematically detect all material misstatements. Misstatements can arise due to fraud or error and are considered to be material if they, individually or in the aggregate, could be reasonably expected to in fl uence the economic decisions of users taken on the basis of the fi nancial statements. As speci fi ed in Article L. 823-10-1 of the French Commercial Code, our mission to certify the fi nancial statements does not consist in guaranteeing the viability or quality of the management of your company. In the context of an audit performed in accordance with the professional standards of practice applicable in France, the Statutory Auditor exercises his or her professional judgement throughout the audit. Furthermore: l he or she identi fi es and assesses the risks that the annual fi nancial statements may contain material misstatements, whether these are due to fraud or error, de fi nes and implements audit procedures to address such risks and collects evidence that he or she considers su ffi cient and appropriate as a basis for his or her opinion. The risk of not detecting a material misstatement arising from fraud is greater than that of a material misstatement resulting from error, because fraud may involve collusion, falsi fi cation, wilful omission, false statements or circumvention of the internal control system; l the auditor reviews the internal control system relevant to the audit in order to de fi ne audit procedures that are appropriate in the circumstances, and not in order to express an opinion on the e ff ectiveness of the internal control system; l he or she assesses the appropriateness of the accounting methods used and the reasonableness of accounting estimates made by the management, as well as the related information provided in the annual fi nancial statements;

178

Compagnie des Alpes I 2019 Universal registration document