Compagnies des Alpes // 2019 Universal Registration Document

5 FINANCIAL INFORMATION

Parent company financial statements

5.4.4 STATUTORY AUDITORS’ SPECIAL REPORT ON REGULATED AGREEMENTS AND COMMITMENTS

To the Shareholders’ Meeting of Compagnie des Alpes, As Statutory Auditors of the Company, we hereby present to you our report on regulated agreements and commitments. It is our duty to inform you, based on the information provided to us, of the basic features, terms and procedures and justi fi cation, in terms of interest for the Company, of the agreements and commitments brought to our attention, or that we identi fi ed in the course of our work, without having to comment on their utility or validity or look for other agreements or commitments. It is your responsibility, pursuant to the provisions of Article R. 225-31 of the French Commercial Code, to assess the bene fi ts accruing from these agreements and commitments when considering their approval. In addition, where applicable, we are required to communicate the information provided for in Article R. 225-31 of the French Commercial Code regarding the performance, during the past fi scal year, of any agreements already approved by the Shareholders’ Meeting. For this mission we have applied due diligence that we consider to be in compliance with the professional standards of the French Statutory Auditors’ association (Compagnie Nationale des Commissaires aux Comptes). This due diligence consisted of verifying the consistency of the information provided to us with the information in the underlying documentation from which it was taken. Agreements and commitments submitted for approval to the shareholders’ meeting We inform you that we have been not been noti fi ed of any agreement or commitment authorised or entered into during the past fi scal year to submit to the Shareholders’ Meeting for approval in application of the provisions of Article L. 225-38 of the French Commercial Code. Agreements and commitments already approved by the shareholders’ meeting A) that continued to be performed during the past fiscal year: Pursuant to Article R. 225-30 of the French Commercial Code, we have been informed that the following agreements that had already been approved in previous fi scal years continued to be performed in the past reporting period. Services agreement with Parc du Futuroscope On 29 October 2015, the Board of Directors of Compagnie des Alpes (CDA) decided to authorise the implementation of a services agreement with Parc du Futuroscope (“Futuroscope”). CDA, the reference shareholder of Futuroscope, has the structure, experience, organisation and resources that make for its reputed and long- standing expertise in administrative, fi nancial, technical and operational fi elds. This allows it to o ff er reliable and e ffi cient support to its subsidiaries in the above-mentioned areas. Futuroscope has stated its desire to avail itself of the assistance and know-how that CDA can provide to optimise its management and the conduct of its business. Futuroscope is invoiced under the General Assistance Agreement, for a total of €900 thousand for the period from 1 October of year N to 30 September of year N+1. This amount was calculated to consider the services actually performed by CDA as well as the resources implemented by Futuroscope itself in the areas concerned. This agreement came into e ff ect on 1 October 2014. At 30 September 2019, income stemming from the agreement amounted to €900 thousand. Implementation of the Foncière Rénovation Montagne project On 12 April 2013, the Board of Directors of Compagnie des Alpes (CDA) decided to authorise the implementation of the Foncière Rénovation Montagne (Mountain Real Estate Refurbishment) project and the signing of the related contract. Thus, in April 2013, Caisse des Dépôts, Banque Populaire des Alpes (BPA), Caisse d’Épargne Rhône Alpes (CERA), Crédit Agricole des Savoie and CDA jointly established Foncière Rénovation Montagne, a company dedicated to the fi nancing and refurbishment of mountain tourism accommodation. As of that date, CDC held a 48.8% stake in Foncière Rénovation Montagne, BPAURA and CERA each held a 16% stake and Crédit Agricole des Savoie and CDA each held a 9.6% stake. In this context, local real estate companies were established. They are owned by Foncière Rénovation Montagne (the majority shareholder) as well as by local public and private stakeholders (resorts/valleys) such as the ski lift companies and local authorities, via relevant Mixed Economy Companies.

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Compagnie des Alpes I 2019 Universal registration document