2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 142 CONSOLIDATED FINANCIAL STATEMENTS 4 Notes to the consolidated financial statements 3.11 BONUS SHARE ALLOCATION The Combined General Meeting of June 1, 2011 authorized the Board of Directors, in its 18th extraordinary resolution, in accordance with and under the conditions stipulated in Articles L. 225-197-1 to L. 225-197-5 of the French Commercial Code, to allocate, in one or several stages, to salaried Company employees or certain categories among them, and/or to the Directors referred to in Article L. 225-197- 1 II of the French Commercial Code, and to salaried personnel and Directors of the companies or economic interest groupings linked to the Company under the conditions outlined in Article L. 225-197-2 of the French Commercial Code, free Company shares, existing or new. In 2013, the Board of Directors authorized a restricted stock award of existing or new shares to the salaried members of staff, or certain categories of them, of all of BOURBON Corporation’s subsidiaries. The vesting of the shares was subject to fulfillment of the conditions and criteria laid down by the Board of Directors, as described below: 3 60% of the shares were contingent on employment at the end of two years: recipients still employed by BOURBON on December 2, 2015 fulfilled this condition; 3 40% of the shares were subject to employment at the end of two years and the attainment of performance criteria: 3 20% was awarded if the 2013/2014/2015 average TRIR (Total incidents recorded per million hours worked based on 24 hours per day) was 0.65 or less; 100% of this criterion was attained with an average of 0.60, 3 20% was granted if the fleet availability rate in 2015 was greater than or equal to 95%; 100% of this criterion was attained with an average of 96.4%. The allotted shares were covered by the share buy-back that took place in 2015. The main features and assumptions used were as follows: December 2, 2017 Date of authorization by the Combined General Meeting June 1, 2011 Date of authorization by the Board of Directors December 2, 2013 Total number of allotted bonus shares adjusted as at 12.02.2015 631,400 Number of beneficiaries 2,103 Price per share: Price per share on the grant date (before adjustment) €19.11 Fair value: Original fair value (before adjustment) €17.53 / €16.08 Dividend yield 4.1% Contractual acquisition period 2 to 4 years N.B.: the only grounds for early exercise are the death or disability (subject to certain conditions) of the employee. The final expense recognized during the fiscal year for the bonus share award plan was -€1.2 million (versus -€1.4 million in 2016). This bonus share award plan thus ended on December 2, 2017. 3.12 TREASURY SHARES The treasury shares held by the Group on the closing date were deducted from consolidated shareholders’ equity. The cumulative impact at the end of 2017 was -€1.2 million, as compared with -€5.7 million as of December 31, 2016. The number of BOURBON treasury shares as of December 31, 2017 was 127,140 after final allocation to the bonus share plan.