2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 102 MANAGEMENT REPORT 3 Report by one of the Statutory Auditors, appointed as independent third party, on the consolidated humanresources, environmental and social information included in the management report We compared the CSR Information presented in the management report with the list provided in article R.225-105-1 of the French Commercial Code. For any consolidated information that is not disclosed, we verified that explanations were provided in accordance with article R.225-105, paragraph 3 of the French Commercial Code. We verified that the CSR Information covers the scope of consolidation, i.e., the Company, its subsidiaries as defined by article L.233-1 and the controlled entities as defined by article L.233-3 of the French Commercial Code within the limitations set out in the methodological note, presented in section 5.4 of the management report. Conclusion Based on the work performed and given the limitations mentioned above, we attest that the required CSR Information has been disclosed in the management report. 2. Conclusion on the fairness of CSR Information Nature and scope of our work We conducted around twenty interviews with the persons responsible for preparing the CSR Information in the departments in charge of collecting the information and, where appropriate, responsible for internal control and risk management procedures, in order to: 3 assess the suitability of the Guidelines in terms of their relevance, completeness, reliability, neutrality and understandability, and taking into account industry best practices where appropriate; 3 verify the implementation of data-collection, compilation, processing and control process to reach completeness and consistency of the CSR Information and obtain an understanding of the internal control and risk management procedures used to prepare the CSR Information. We determined the nature and scope of our tests and procedures based on the nature and importance of the CSR Information with respect to the characteristics of the Company, the human resources and environmental challenges of its activities, its sustainability strategy and industry best practices. Regarding the CSR Information that we considered to be the most important (1) : 3 at the consolidating entity level, we referred to documentary sources and conducted interviews to corroborate the qualitative information (organisation, policies, actions), performed analytical procedures on the quantitative information and verified, using sampling techniques, the calculations and the consolidation of the data. We also verified that the information was consistent and in agreement with the other information in the management report; 3 at the level of a representative sample of entities selected by us (2) on the basis of their activity, their contribution to the consolidated indicators, their location and a risk analysis, we conducted interviews to verify that procedures are properly applied and we performed tests of details, using sampling techniques, in order to verify the calculations and reconcile the data with the supporting documents. The selected sample represents 16% of headcount and between 11% and 20% of quantitative environmental data disclosed. For the remaining consolidated CSR Information, we assessed its consistency based on our understanding of the company. We also assessed the relevance of explanations provided for any information that was not disclosed, either in whole or in part. (1) Quantitative information Social: Total Group workforce as at December 31, 2017 (staff under contract as well as seagoing personnel hired on a non-contractual basis working rotating shifts and due back on board); Distribution of the workforce under contract ashore, and at sea and by geographical zone; Distribution of the workforce between internal agencies and external agencies; Number of hiring and departures by category; Absenteeism rate by category; Number of training hours by category; Percentage of subsidiaries with their own salary scales in place; Percentage of subsidiaries declaring as referring to collective agreements for managing the working time; Percentage of subsidiaries who use part-time working; Percentage of subsidiaries proposing the use of teleworking; Percentage of subsidiaries which have their onshore and/or seagoing personnel covered by private medical insurance; Total Recordable Incidents Rate (TRIR); Lost Time Injury Rate (LTIR); Number of occupational illnesses recognised in 2017. Environmental: Total volume of waste generated; Volume of used oil treated; Marine Gas Oil consumption; CO 2 emissions and main category of indirect emissions; SOx emissions; NOx emissions Societal: Percentage of local procurement in purchases of parts and supplies; Percentage of local workforce for each operating zone. Qualitative information Social: Operational Safety Management Standard (OSM); Monthly accident prevention tool “safety post”; Development of collective competence; Environment: Training in good operational practices of crews (environment); Societal: Supplier Code of conduct; Compliance program. (2) Sonasurf (SA), Bourbon Management (BM) and Bourbon Offshore MMI (BOMMI)