Compagnie des Alpes

Capital/Financing Update • Dec 23, 2020

COMPAGNIE DES ALPES SETS UP A SEASONAL GOVERNMENT-BACKED LOAN FOR €269,000,000

Paris, December 23, 2020 – Compagnie des Alpes announces the signing of a seasonal governmentbacked loan (Seasonal GBL¹ ), in addition to the first GBL for €200 M announced on June 19, 2020.

This transaction was conducted with the Group's traditional banking partners, already present in the €250 M RCF, which thus renew their confidence in the Group.

This Seasonal GBL is intended to reinforce the liquidity position of Compagnie des Alpes against the backdrop of the health crisis related to the Covid-19 pandemic.

The latest €269 M loan is provided for an initial duration of 12 months, a term that may be extended once at the discretion of the Group, from one to five years. This brings the maximum term of the loan to six years as of its signing date. It is 90% guaranteed by the French government.

The funds will be available before the end of 2020.

The loan agreement has been aligned with the existing wording of the RCF and for first GBL for €200 M that the Group obtained earlier.

Compagnie des Alpes was advised by Herbert Smith Freehills Paris LLP. Société Générale served as coordinator and credit agent, and Allen & Overy advised the banks.

In the environment of crisis created by the Covid-19 crisis, the Group faces many uncertainties which makes assessing the various impacts on Group results over the short to medium term extremely complicated. These impacts will depend on multiple factors, in particular the date on which our businesses will be able to reopen, preventive measures enacted by the governments in countries where the Group operates, and the impact that this crisis will have short term on consumer behavior.

¹ The PGE Saison (Seasonal GBL) is one of the measures announced by the government designed to support the French tourist industry. It's a government-backed loan with more advantageous conditions than a traditional government-backed loan. For example, while the amount of a traditional GBL is 25% of 2019 sales, the Seasonal GBL is based on the three best months of 2019.

Upcoming events:

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• 1Q 2020/2021 Sales: Thursday, January 21, after stock market closes
• Shareholders' Meeting: Thursday, March 25, morning
• 2Q 2020/2021 Sales: Thursday, April 22, after stock market closes
• 1H 2020/2021 Results: Wednesday, May 26, after stock market closes

www.compagniedesalpes.com

Since it was founded in 1989, Compagnie des Alpes (CDA) has established itself as an uncontested leader in the leisure industry. Today, the Group operates 11 prestigious ski resorts and 13 renowned leisure parks, using an integrated approach that combines operational excellence and quality to achieve the Very High Satisfaction of its customers but also the local communities in which it is present. Compagnie des Alpes also exports its expertise, offering consulting and assistance services to projects in diverse regions around the world.

Compagnie des Alpes has, in addition, leveraged its expertise to adapt to changing patterns of consumption: an active force in the renovation of mountain lodging, it has also developed a network of real estate agencies, is developing its own thematic hotels adjacent to its parks with nationwide appeal and, since 2018, is the number 1 tour operator specializing in the online sale of ski holiday packages in France. Over the course of the financial year ended September 30, 2020, the Group welcomed more than 16.5 million guests and generated sales of €615.6 M.

With nearly 5,000 employees, Compagnie des Alpes works with its partners to build projects that generate unique experiences, the opposite of a standardized concept. Exceptional leisure activities for everyone.

• ➢ Ski Areas operated by CDA: La Plagne, Les Arcs, Peisey-Vallandry, Tignes, Val d'Isère, Les Menuires, Méribel, Serre Chevalier, Les Deux Alpes, Flaine, Samoëns – Morillon
• ➢ Leisure Parks operated by CDA: In France: Parc Astérix, Futuroscope, Walibi Rhône-Alpes, Grévin Paris, France Miniature; in Belgium: Walibi Belgium, Aqualibi, Bellewaerde, Bellewaerde Aquapark; in the Netherlands: Walibi Holland; in Switzerland: Chaplin's World; in Austria: Familypark; in Canada: Grévin Montréal.

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CDA is included in CAC All-Shares, CAC All-Tradable, CAC Mid & Small, and CAC Small. ISIN: FR0000053324; Reuters: CDAF.PA; FTSE: 5755 Recreational services

CONTACTS:

Compagnie des Alpes:	Denis HERMESSE	+33 1 46 84 88 97	denis.hermesse@compagniedesalpes.fr
	Sandra PICARD	+33.1 46 84 88 53	sandra.picard@compagniedesalpes.fr
	Alexis d'ARGENT		+33 1 46 84 88 79 alexis.dargent@compagniedesalpes.fr
Corpus :	Xavier YVON	+33.6 88 29 72 37	xavier.yvon@corp-us.fr