Compagnies des Alpes // 2019 Universal Registration Document

3 REPORT ON CORPORATE GOVERNANCE Compensation of corporate officers

RATIO BETWEEN THE COMPENSATION OF DOMINIQUE MARCEL, CHAIRMAN AND CHIEF EXECUTIVE OFFICER, AND THE SALARY OF EMPLOYEES

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. Consequently, the Board of Directors did not deem it useful to de fi ne performance conditions. The closure and freezing of this plan have no impact on Dominique Marcel’s rights, as decided by the Board. On the closing date of the fi scal year, the amount of Dominique Marcel’s annual pension rights under the defined-benefit complementary retirement scheme is estimated at €48,371. Estimated amount of the pension of Agnès Pannier-Runacher, Deputy Chief Executive Officer until 15 October 2018 Due to her resignation from the Company on 15 October 2018, Agnès Pannier-Runacher is no longer eligible for the complementary de fi ned- bene fi t pension plan. However, she will keep the rights gained under the defined- contribution complementary pension scheme. They will be transferred to the Company in which Agnès Pannier-Runacher will end her career and the related amount will be paid to her along with her retirement pension. (x) Complementary health and pension plan Dominique Marcel is covered by the collective health and pension plan in force within the Company, in the same way and under the same conditions as other employees. 3.3.1.3 Ratio between the compensation of executive corporate officers and the average and median salary of Company employees This presentation was prepared in accordance with Article L. 225-37- 3 (par. 4 and 5), recently amended by Law No. 2019-486 of 22 May 2019 relative to the growth and transformation of businesses (known as the Pacte law) to comply with the new transparency requirements regarding the compensation of senior executives. It shows the level of compensation paid to the Company’s Chairman and Chief Executive O ffi cer and its Deputy Chief Executive O ffi cer, firstly in relation to the average salary of employees (excluding corporate o ffi cers), and secondly in relation to the median salary of employees (excluding corporate o ffi cers) of Compagnie des Alpes, as well as the changes in these two ratios over the past fi ve years. This presentation is liable to change with the possible release of subsequent details and o ffi cial positions for the attention of issuers.

10

8

6

4

2

0

2014/2015

2017/2018

2016/2017

2015/2016

2018/2019

CEO to Average Pay ratio CEO to Median Pay ratio

RATIO BETWEEN THE COMPENSATION OF AGNÈS PANNIER- RUNACHER, DEPUTY CEO ( UNTIL 15 OCTOBER 2018 ), AND THE SALARY OF EMPLOYEES

10

8

6

NA

4

2

0

2014/2015

2017/2018

2016/2017

2015/2016

2018/2019

Deputy CEO to Average Pay ratio Deputy CEO to Median Pay ratio

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Compagnie des Alpes I 2019 Universal registration document