2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 107 CONSOLIDATED FINANCIAL STATEMENTS Statement of comprehensive income 4 STATEMENT OF COMPREHENSIVE INCOME (in € millions) Notes December 31,2017 December 31,2016 Revenues 4 793.6 1,020.6 Direct costs excluding bareboat leases 4 (456.4) (538.8) General and administrative costs 4 (97.2) (115.0) Bareboat leases 4 (164.4) (188.7) Capital gains 4 (0.2) 0.4 EBITDA 75.4 178.5 Increases and reversals of amortization, depreciation and provisions (288.9) (316.4) Impairment (196.8) (36.0) Capital gains on equity interests sold - - Operating income (EBIT) (410.3) (173.9) Share of results from affiliates under the equity method 3.4 3.7 (1.4) Operating income (EBIT) after share of results from companies under equity method (406.6) (175.3) Cost of net debt 3.15 (54.6) (43.0) Other financial expenses and income 3.15 (134.9) (20.8) Income from current operations before income tax (596.1) (239.1) Income tax 3.17 (12.8) (23.9) Net income before discontinued operations net income (608.9) (263.0) Net income from discontinued operations/operations held for sale - - NET INCOME (608.9) (263.0) Group share (576.3) (279.6) Non-controlling interests (32.6) 16.6 Basic net earnings per share 5.2.1 (7.47) (3.68) Diluted net earnings per share 5.2.2 (7.45) (3.67) Net earnings per share – excluding income from discontinued operations/ operations held for sale 5.2.1 (7.47) (3.68) Diluted net earnings per share – excluding income from discontinued operations/ operations held for sale 5.2.2 (7.45) (3.67) Net dividend allocated to each share adjusted - (1) 0.25 (1) Further to the proposal made by the Board of Directors’ meeting of March 14, 2018.