Compagnie des Alpes - 2017 Registration Document

6 SHARE CAPITAL AND SHAREHOLDER STRUCTURE Stock-market information

6.2.8 POTENTIALLY KEY FACTORS IN THE EVENT OF A TAKEOVER BID Potentially key factors in the event of a takeover bid for the Company’s shares as referred to in Article L. 225-100-3 of the French Commercial Code are set out in this document as indicated below: z Company’s shareholder structure: Chapter 6, section 6.2.1;

and serious cause, or if their employment is terminated following a takeover bid: Chapter 3, section 3. 3.1.1. Concerning agreements reached by the Company that may be amended or terminated in the event of a change in control of the Company, three contracts or types of contracts that include an ownership clause have been identified: z the credit agreements renegotiated in 2017 include an ownership clause detailed (Chapter 5, Note 6.11. to the Consolidated Financial Statements), as well as certain bilateral credit lines; z the licensing agreement for use of the corporate names “Caisse des Dépôts et Consignations” and “Groupe Caisse des Dépôts”, which CDC has the right to terminate in the event that Compagnie des Alpes ceases to be a part of Groupe CDC; z certain concession agreements providing various types of clauses for change in proxy control (mainly related to the shareholding of Groupe Caisse des Dépôts), which require the prior approval of the authority granting the concession.

z restrictions under the Company’s by-laws on the use of voting rights and on share transfers or contractual clauses of which the Company is made aware in accordance with Article L. 233-11: Chapter 3, section 3.1.3.2. and Chapter 6 section 6.2.3; z direct or indirect shareholdings in Company capital of which the Company is aware pursuant to Articles L. 233-7 and L. 233-12: Chapter 6, section 6.2.1; z rules applicable to the appointment and replacement of Directors, and to changes in Company by-laws: Chapter 3, section 3.1.1.1; z powers of the Board of Directors, in particular for the issue and purchase of stock: Chapter 6, sections 6.1.2 and 6.1.3; z agreements providing severance pay for members of the Board of Directors and employees if they resign or are dismissed without valid

6.3 Stock-market information

6.3.1 CONTEXT The Compagnie des Alpes IPO took place on 18 November 1994, with the share priced at €11.90 (adjusted for the 2:1 stock split in 2007 and various trading transactions). The Company’s stock is listed in Segment B (Mid-caps) of Euronext. It is listed on the CAC All-Tradable (formerly SBF 250), CAC Mid & Small (formerly CAC Mid & Small 190), and CAC Small (formerly CAC Small 90). The former CAC Mid 100, an index which included CDA, was replaced by the CAC Mid 60 which no longer included CDA.

Since 26 May 2010, CDA stock benefits from the “long-only” Deferred Settlement Service ( Service de Règlement Différé - SRD), meaning shares are SRD-eligible upon purchase only. This change in the SRD will increase the list of SRD-eligible stocks within specific technical parameters. This new arrangement allows investors to leverage their CDA shares.

6.3.2 PERFORMANCE OF THE COMPANY’S SHARES DURING FY 2016/2017 Over the fiscal year, the share price increased sharply, by nearly 59%. It rose from €17.00 at 30 September 2016 to €26.95 at 29 September 2017, peaking at €29.70 on 26 June.

At the end of the fiscal year, on 30 September 2017, the Group’s stock market capitalisation amounted to €657 million, compared to €413 million the previous year.

The average daily trading volume remained high over the fiscal year, standing at 13,150 shares, but didn’t benefit from the rising share price. Indeed, the average daily trading volume amounted to 13,260 shares in 2015/2016 (16,160 in 2014/2015; 14,000 in 2013/2014 and 8,000 in 2012/2013).

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Compagnie des Alpes I 2017 Registration Document