2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 136 CONSOLIDATED FINANCIAL STATEMENTS 4 Notes to the consolidated financial statements Financial liabilities related to fixed assets under finance lease arrangements correspond to the discounted value of the minimum payments for the lease. The amounts of the financial liabilities as well as their due dates are presented in note 3.14. 3 Details of depreciation and impairment on property, plant and equipment under finance leases (in € millions) Land Buildings Technical facilities Vessels and maintenance Other property, plant and equipment Total 01.01.2016 - - - (15.4) - (15.4) Provisions for amortization - - - (8.4) - (8.4) Disposals - - - 1.7 - 1.7 Impairment - - - - - - Change in scope - - - - - - Currency translation adjustment - - - 0.0 - 0.0 Reclassification and other changes - - - (9.7) - (9.7) 12.31.2016 - - - (31.9) - (31.9) Provisions for amortization - - - (9.5) - (9.5) Disposals - - - - - - Impairment - - - - - - Change in scope - - - - - - Currency translation adjustment - - - 0.0 - 0.0 Reclassification and other changes - - - 3.5 - 3.5 12.31.2017 - - - (37.8) - (37.8) 3.4 INVESTMENTS IN AFFILIATES UNDER THE EQUITY METHOD The interests in affiliates under the equity method include associates over which the Company has a significant influence as well as jointly controlled joint ventures. As of December 31, 2017, investments in associates amounted to €19.9 million. (in € millions) Investments in affiliates under the equity method 01.01.2016 16.6 Share of net income 0.3 Dividends paid (2.3) Change in consolidation scope and other 0.0 Currency translation adjustment 0.2 12.31.2016 14.8 Share of net income 2.0 Dividends paid (0.2) Change in consolidation scope and other 5.1 Currency translation adjustment (1.8) 12.31.2017 19.9 As of December 31, 2017, investments in affiliates under the equity method mainly consisted of equity interests held in joint ventures. It should be noted that, in accordance with revised IAS 28, the Group recognized a liability for the companies showing a negative net asset and for which there exists a legal or implied obligation for the Group. Liabilities thus recorded as of December 31, 2017 totaled €0.1 million. The share in income (loss) of affiliates under the equity method shown in the statement of comprehensive income includes the provision for the negative net assets recognized at December 31, 2017 (see note 3.13). Moreover, as of this date, there are no unrecognized liabilities associated with interests in companies consolidated by the equity method.