2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 156 CONSOLIDATED FINANCIAL STATEMENTS 4 Notes to the consolidated financial statements c) Equity risks As of December 31, 2017, the Group had no cash investments. As indicated in note 3.12 “Treasury Shares”, BOURBON Corporation held 127,140 treasury shares as of December 31, 2017. Treasury shares are presented as a deduction from consolidated shareholders’ equity. A 10% change either up or down in the BOURBON Corporation share price would result in a change in the market value of the treasury shares of €0.1 million. d) Supplyprice risk The Group’s exposure to price risk is minimal. The change in the price of raw materials does not constitute a risk of significant increase in operating costs. Clients generally take direct charge of the cost of fuel. 3.19 FINANCIAL INSTRUMENTS 3.19.1 Financial assets As of December 31, 2017 and December 31, 2016, financial assets were as follows: (in € millions) 12.31.2017 Available- for-sale assets Financial assets at fair value through profit and loss Loans and receivables Financial instruments measured at fair value Cash and cash equivalents Balance sheet total Non-current financial assets 0.1 - 20.5 0.0 - 20.6 Trade and receivables - - 347.6 - - 347.6 Current financial assets - - 44.5 0.4 - 45.0 Other current assets - - 27.5 - - 27.5 Cash and cash equivalents - - - - 243.6 243.6 TOTAL 0.1 - 440.0 0.5 243.6 684.2 (in € millions) 12.31.2016 Available- for-sale assets Financial assets at fair value through profit and loss Loans and receivables Financial instruments measured at fair value Cash and cash equivalents Balance sheet total Non-current financial assets 0.1 0.1 167.5 0.0 - 167.6 Trade and receivables - - 454.5 - - 454.5 Current financial assets - - 28.8 2.2 - 31.0 Other current assets - - 27.9 - - 27.9 Cash and cash equivalents - - - - 281.5 281.5 TOTAL 0.1 0.1 678.7 2.2 281.5 962.5 a) Available-for-sale assets Available-for-sale assets held by the Group totaled €0.1 million as of December 31, 2017. The profits and losses recorded in shareholders’ equity and in net income on available-for-sale assets represented €0.1 million in 2017 (-€1.0 million in 2016). b) Financial assets at fair value through profit and loss As of December 31, 2017 the Group no longer has any financial assets at fair value through profit and loss.