2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 163 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements 4 5/ Other information 5.1 CONTRACTUAL OBLIGATIONS AND OTHER OFF-BALANCE SHEET COMMITMENTS 5.1.1 Off-balance sheet commitments related to the Group scope of consolidation (in € millions) 12.31.2017 12.31.2016 Commitments given 3.4 1.3 TOTAL COMMITMENTS GIVEN 3.4 1.3 Commitments received - - TOTAL COMMITMENTS RECEIVED - - 5.1.2 Off-balance sheet commitments related to financing a) Lines of credit Unused lines of credit are listed below by period: (in € millions) 12.31.2017 12.31.2016 Short-term lines of credit - 24.2 TOTAL COMMITMENTS RECEIVED (SHORT-TERM LINES) - 24.2 b) Guarantees relating to medium- and long-term debt (in € millions) 12.31.2017 12.31.2016 Commitments given Mortgages and pledges on loans (equipment or marketable securities used as collateral) 1,382.0 1,308.7 Guarantees given by the parent company on behalf of companies in the Group (excluding one mortgage) 1,240.0 1,577.5 TOTAL COMMITMENTS GIVEN 2,622.0 2,886.2 Commitments received 67.0 76.3 TOTAL COMMITMENTS RECEIVED 67.0 76.3 In connection with certain restructured “club deal” and bilateral financings and syndicated loans, the companies that own BOURBON’s vessels consented to mortgages on some of their vessels in favor of the lending institutions concerned to guarantee the repayment of said loans. As of December 31, 2017, although the total amount of mortgages recorded with the appropriate authorities stood at €5,269.4 million, the total amount that may be called was limited to the remaining capital effectively owed by the Group for the loans guaranteed by these mortgages and personal pledges, i.e . €1,382.0 million. The mortgage is released when the loan guaranteeing it is repaid in full. Parent company guarantees were given on behalf of Group entities for €1,240.0 million.