Compagnie des Alpes - 2017 Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

lifts and ski runs for the period from 1 November 1998 to 31 October 2018 and replaced by a new concession on 14 December 2017 for the period from 1 November 2017 to 31 October 2047 (30 years). Concession granted by the Syndicat Intercommunal à Vocation Unique du Prorel (single-purpose grouping of municipalities) for operation and management of the Massif du Prorel facilities for the period from 15 December 2006 to 31 October 2034. z Société des Téléphériques de Val-d’Isère (STVI) - Val-d’Isère: Concession granted in May 1982 by the municipality of Val-d’Isère, initially for a 30-year period (expiring in 2012) and extended in 1991 for 8 years (until July 2020), and again in 2014 for 12 years (until July 2032). Concession granted in September 1970 by the municipality of Bonneval s/Arc, initially for a 30-year period and extended in 1994 for an additional 18 years to 16 December 2019. z Deux Alpes Loisirs (DAL) – Les Deux Alpes: Concession granted on 21 June 1993 by the municipality of Mont-de- Lans for a 30-year period (until 2023). Concession granted on 14 January 1994 by the municipality of Venosc for a 30-year period (until 2024). Concession granted on 21 September 1993 by the municipality of Saint Christophe-en-Oisans for a 30-year period (until 2023). Concession signed on 5 December 2013 with the municipality of Chamonix for the Chamonix ski areas, for a 40-year period ending 5 December 2053. Concession signed on 6 January 1989 with the municipality of Chamonix for Aiguille du Midi, for a 40-year period ending 31 December 2028. Concessions for the operation of the Tramway du Mont-Blanc and Train du Montenvers granted by the department of Haute-Savoie in 1988 and 1998 for 30-and 25-year periods ending 31 December 2018 and 31 December 2023, respectively. Concession for the operation of Les Houches/Saint-Gervais (through its 72.5%-owned subsidiary, LHSG) for a 30-year period from 1 December 2011 to 30 November 2041. z Société des RemontéesMécaniques deMegève (SRMM) - Megève Concession for the operation of the downstream sector Princesse, signed on 10 December 2002 by the municipality of Demi-Quartier, for a 30-year period, ending on 9 December 2032. Concession for the Crêtes du Mont d’Arbois and the upstream sector Princesse, signed on 10 March 1989 by the municipality of Saint- Gervais, for a 30-year period, ending on 9 March 2019. Concession for Mont d’Arbois, Rocharbois and Rochebrune, signed on 15 April 1993 by the municipality of Megève, for a 30-year period ending on 14 April 2023. z Société d’Exploitation des Remontées Mécaniques de Morzine Avoriaz (SERMA) - Morzine/Avoriaz: The company operates a concession granted by the municipality of Morzine, which runs to 13 June 2032, and a concession granted by the The company operates a concession granted by the Communauté de Communes de la Vallée d’Aigueblanche (grouping of several municipalities), which runs to 2 June 2023. z Domaine Skiable de La Rosière (DSR) - La Rosière: The company operates a concession granted by the municipality of La Rosière, which runs to 11 December 2032. municipality of Montriond, which runs to 13 June 2032. z Domaine Skiable de Valmorel (DSV) – Valmorel: The agreements of equity affiliates are as follows: z Compagnie du Mont-Blanc (CMB) – Chamonix

from 15 December 1987 to 10 June 2017 (30 years), and extended in 1998/1999 for an additional 10 years to 10 June 2027. z ADS – Les Arcs-Peisey-Vallandry: Concession granted by the municipality of Bourg-Saint-Maurice for the period from 1 st June 1990 to 31 May 2020 (30 years), and extended for 10 years in January 2015, until 31 May 2030. Concession granted by the municipality of Villaroger for the period from 1 st June 1998 to 31 May 2020. Concession granted by the municipality of Peisey-Nancroix for the period from 1 st January 1997 to 31 May 2020. Concession granted by the Syndicat Intercommunal à Vocation Multiple (SIVOM, a grouping of several municipalities) of Landry- Peisey-Nancroix for the period from 18 October 1989 to 30 October 2019 (30 years). z Société d’Exploitation de la Vallée des Belleville (SEVABEL) - Les Menuires: Concession for the operation of the Saint-Martin-de-Belleville ski area, granted by the municipality of Les Belleville initially for the period from 1 st December 1990 to 31 May 2017 (27 years), and extended on 16 May 2001 for four years to 31 May 2021, then on 29 March 2016 for ten years to 31 May 2031; Concession for the operation of the Menuires ski area, granted by the Syndicat Mixte pour l’Aménagement de Belleville (SYMAB, grouping of several municipalities) initially for the period from 1 st December 1990 to 31 May 2017 (27 years), and extended on 11 August 2000 for four years to 31 May 2021, then on 29 March 2016 for ten years to 31 May 2031. z Méribel Alpina: Concessions respectively granted by the municipality of Les Allues for the period from 18 December 1989 to 17 December 2019 (30 years), extended until 31 May 2034, and by the municipality of Brides-les- Bains for the period from 30 June 1992 to 17 December 2019 (27 years). z Grand Massif Domaines Skiables (GMDS): Concession granted by the department of Haute-Savoie, amended by an additional clause, for the period from 9 January 1989 to 8 January 2019 (30 years). Concession for the operation of new ski lifts and ski runs granted by the municipality of Magland, for the period from 4 July 2000 to 30 April 2025 (25 years). Concession for the operation of new ski lifts and ski runs granted by the municipality of Arâches-la-Frasse, in the part of its territory falling within the Flaine ski area for the period from 9 July 2004 to 30 April 2029 (25 years). Concession for the operation of new ski lifts and ski runs granted by the municipality of Morillon, for the period from 8 July 2016 to 31 May 2047 (31 years). Concession granted by the municipalities of Morillon and Arâches-La- Frasse for the operation of the Perce-Neige Arête area for the period from 17 July 2008 to 15 December 2022. Concession for the operation of new ski lifts and ski runs granted by the municipality of Samoëns, for the period from 1 st September 2000 to 30 April 2030 (30 years). Concession signed on 28 January 2013 with the municipality of Sixt- Fer-à-Cheval for a 40-year period ending 30 September 2053. z SCV Domaine Skiable – Serre Chevalier: Concession granted by the municipality of Saint-Chaffrey for the management and operation of the new ski lifts and the ski area for the period from 1 st December 2004 to 30 August 2034 (30 years). Concession granted by the Syndicat Intercommunal de Gestion et d’Exploitation des Domaines d’Hiver et d’Été de Serre Chevalier 1400- 1500 (SIGED, grouping of several municipalities) for the operation of ski

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Compagnie des Alpes I 2017 Registration Document