2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 161 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements 4 The capital employed as presented in the segment information includes the following item s: 3 goodwill; 3 the consolidated net book value of the vessels; 3 installments on vessels under construction; 3 other intangible assets and property, plant and equipment; 3 non-current financial instruments (assets and liabilities); 3 long-term financial assets (mainly loans); 3 working capital, which includes current assets (with the exception of cash and cash equivalents) as well as current liabilities (with the exception of borrowings and bank loans and provisions). Commercial transactions between segments are established on a market basis, with terms and conditions identical to those in effect for supplying goods and services to customers outside the Group. The segment information for 2017 is as follows: (in € millions) Total Marine Services Of which Total Subsea Services Other Adjusted total by activity/ segment Adjustments Consolidated Total Deep Shallow Crew Revenues 627.4 256.9 154.2 216.3 220.1 13.1 860.6 67.0 793.6 Direct costs excluding bareboat leases (386.5) (151.4) (101.6) (133.5) (106.3) (6.7) (499.6) (43.2) (456.4) General and administrative costs (79.3) (32.5) (19.5) (27.3) (27.8) (1.6) (108.7) (11.5) (97.2) EBITDAR* excluding capital gains 161.7 73.1 33.2 55.4 86.0 4.7 252.4 12.3 240.0 Bareboat charters (119.0) (61.7) (57.2) - (45.4) - (164.4) (0.0) (164.4) Capital gains (0.4) - (0.4) 0.1 - 0.1 (0.2) (0.0) (0.2) Gross operating income (EBITDA) 42.4 11.3 (24.5) 55.5 40.6 4.9 87.8 12.3 75.4 EBIT (374.5) n/a n/a n/a (27.6) (1.8) (403.9) 2.7 (406.6) Goodwill 6.1 - 6.1 - 19.2 - 25.2 - 25.2 Vessels 1,546.4 n/a n/a n/a 337.9 0.0 1,884.3 55.0 1,829.3 Installments on vessels under construction 10.4 n/a n/a n/a 48.0 - 58.4 0.2 58.2 Other non-current assets and liabilities 65.8 n/a n/a n/a 21.0 21.0 107.8 (7.8) 115.6 Working capital 67.9 n/a n/a n/a 23.8 (0.1) 91.6 (10.3) 102.0 Capital employed 1,696.6 n/a n/a n/a 449.9 20.8 2,167.4 37.1 2,130.3 Capital employed excluding installments on vessels under construction 1,686.3 n/a n/a n/a 401.9 20.8 2,109.0 36.8 2,072.1 * EBITDA excluding bareboat charters.