2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 103 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 believe that the sampling methods and sample sizes we have used, based on our professional judgement, are sufficient to provide a basis for our limited assurance conclusion; a higher level of assurance would have required us to carry out more extensive procedures. Due to the use of sampling techniques and other limitations inherent to information and internal control systems, the risk of not detecting a material misstatement in the CSR information cannot be totally eliminated. Conclusion Based on the work performed, no material misstatement has come to our attention that causes us to believe that the CSR Information, taken as a whole, is not presented fairly in accordance with the Guidelines. Marseille, March 30th 2018 One of the Statutory Auditors Deloitte & Associés Christophe Perrau Julien Rivals Partner Partner, Sustainability Services