Compagnies des Alpes // 2019 Universal Registration Document

5 FINANCIAL INFORMATION

Parent company financial statements

At 30 September 2019: l CDA holds a 9.6% stake in Foncière Rénovation Montagne, representing an investment of €785 thousand; l CDA’s investments in the capital of four local real estate companies represent €281 thousand:

l Foncière des Écrins: €111 thousand, or 3.0% of the share capital, l Foncière les Arcs: €59 thousand, or 4.5% of the share capital, l Foncière les Ménuires: €56 thousand or 7.7% of the share capital, l Foncière la Plagne: €55 thousand or 3.0% of the share capital; l the current account advances granted to Foncière Rénovation Montagne and the local real estate companies amount to €1,071 thousand and €434 thousand, respectively. Licensing agreement with Caisse des Dépôts et Consignations On 28 June 2005, the Supervisory Board approved the signing of a licence agreement for the use of the names “Caisse des Dépôts et Consignations” and “Groupe Caisse des Dépôts”. In consideration, Compagnie des Alpes pays an annual fee of 0.2% of consolidated annual sales (net of VAT), weighted according to the percentage of share capital held by Caisse des Dépôts et Consignations in Compagnie des Alpes at 1 January of each fi scal year. At 30 September 2019, expense stemming from the agreement amounted to €677 thousand. Refinancing – establishment of an amendment to the credit facility agreement and a new depreciable term loan agreement On 26 January 2017, the Board of Directors of Compagnie des Alpes (CDA) decided to authorise the signing of a credit agreement, wherein your Company, acting in the capacity of “Debtor” and “Guarantor”, alongside the “Borrower”, its subsidiary CDA-Financement : l an amendment to the credit facility agreement dated 7 May 2014: this amendment, which was signed on 23 February 2017, lowers the amount of the revolving credit facility from a maximum principal amount of €260 million to an amount of €250 million. This made it possible to review the margins and add two one-year extension options (May 2022 and May 2023). As at 30 September 2019, no outstanding amount has been disbursed under this agreement; l a new depreciable term loan agreement for a principal amount of €80 million consisting of a revolving credit facility maturing in 2022 for the A tranche (50%) and in 2023 for the B tranche (50%). CDA-Financement’s outstanding amount disbursed at 30 September 2019, corresponding to your company’s guarantee commitment, is €80 million at 30 September 2019. Inclusion of Mr Dominique Marcel, Chairman and Chief Executive Officer, in a pension plan combining defined contributions and defined benefits The Board of Directors of 9 March 2017 (as well as previously the Board of Directors of 19 March 2009 and the Supervisory Board of 30 September 2008) authorised the inclusion of Mr Dominique Marcel in a pension plan combining de fi ned contributions and de fi ned bene fi ts. As Chairman and Chief Executive O ffi cer, Mr Dominique Marcel is covered by a Group supplemental pension plan for Group Executive Management. This comprises a de fi ned-bene fi t plan and a de fi ned-contribution plan. Dominique Marcel has already reached the maximum level of conditional rights under this plan. According to the terms of the pension regulations, the annual pension increases by 1% per year of seniority and is capped at 10% of the reference compensation. However, Dominique Marcel has more than ten years of seniority. Consequently, no increase in the conditional rights under the said pension plan will be granted to Dominique Marcel during the term of his new mandate . In this context, the Board of Directors has decided to recognise the “freezing” of pension rights under the abovementioned plan as of 9 March 2017, by using the compensation granted for the 2015/2016 fi scal year as a reference. The actuarial obligation at 30 September 2019 was €1,468 thousand. Unemployment insurance of the Chairman and Chief Executive Officer On 9 March 2017, the Board of Directors authorised the purchase of private unemployment insurance from the Association pour la Garantie Sociale des Chefs et Dirigeants d’Entreprise (GSC) for Mr Dominique Marcel, Chairman and Chief Executive O ffi cer. At 30 September 2019, expense stemming from the agreement amounted to €13 thousand. B) not performed during the past fiscal year: Furthermore, we were informed of the continued existence of the following agreements and commitments, already approved by the Shareholders’ Meeting in prior fi scal years, that were not performed during the past fi scal year. Renewal of the severance package due or likely to be paid to Mr Dominique Marcel in the event of the termination of his tenure as Chairman and Chief Executive Officer of Compagnie des Alpes On 9 March 2017, upon the renewal of its term of o ffi ce, the Board of Directors of Compagnie des Alpes (CDA) decided to renew the commitment made by the Company regarding the severance pay due or likely to be paid to CDA’s Chairman and Chief Executive O ffi cer in the event of the termination of his tenure. Conditions for attribution and calculation are comparable to those that had been decided for the duration of his previous mandate but were restated by the Board of Directors to take into account changes in the provisions of the AFEP/MEDEF Code in this regard.

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Compagnie des Alpes I 2019 Universal registration document