2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 110 CONSOLIDATED FINANCIAL STATEMENTS 4 Statement of changes in equity STATEMENT OF CHANGES IN EQUITY (in € millions) Notes Capital and related reserves Capital Share premium and reserves related to share capital Reclassification of treasury shares Perpetual Deeply Subordinated Notes Shareholders’ equity as of January 1, 2017 48.5 88.7 (5.7) 118.5 Net income for the period - - - - Other components of comprehensive income (net of tax): - - - - Cash flow hedge (IAS 39) 3.19.2 - - - - Employee benefit obligations 3.13 - - - - Profits and losses from the currency translation of the statements of foreign subsidiaries - - - - Comprehensive income for the period - - - - Capital increase 3.9 - - - - Dividends paid in cash - - - - Dividends paid in shares 0.7 9.8 - - Capital repayment - - - - Issue of Perpetual Deeply Subordinated Notes - - - - Recognition of share-based payments 3.11 - - - - Reclassification of treasury shares 3.12 - - 4.5 - Other changes - 2.3 - - Total transactions with shareholders 0.7 12.1 4.5 - SHAREHOLDERS’ EQUITY AS OF DECEMBER 31, 2017 49.2 100.8 (1.2) 118.5