2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 174 CONSOLIDATED FINANCIAL STATEMENTS 4 Notes to the consolidated financial statements 5.8 SCOPE OF CONSOLIDATION 5.8.1 List of BOURBON Corporation’s fullyconsolidated companies % control of capital held directly or indirectly % interest in capital held directly or indirectly Country 2017 2016 2017 2016 BOURBON Corporation Parent company Parent company France (Marseille) Aequo Animo Shipping Navegação Lda 100.00 100.00 100.00 100.00 Portugal (Madeira) Aries Marine Pte.Ltd (formerly Marine Network Asia Pte.Ltd) 90.00 90.00 90.00 90.00 Singapore Bahtera Sri Kandi Asset Ltd (formerly Bourbon Labuan Asset) 100.00 100.00 49.00 100.00 Malaysia Bahtera Sri Kandi Marine SDN.BHD (formerly Bourbon Offshore Mitra SDN.BHD) 100.00 100.00 49.00 49.00 Malaysia Bahtera Sri Kandi Offshore Ltd (formerly Bourbon Offshore Labuan Ltd) 100.00 100.00 49.00 90.00 Malaysia BAOS Holding Ltd 50.00 50.00 50.00 50.00 Cyprus BAOS Provider Ltd 50.00 50.00 50.00 50.00 Cyprus BON Crewing AS 100.00 100.00 100.00 100.00 Norway BON Management AS 100.00 100.00 100.00 100.00 Norway Bourbon AD4 100.00 100.00 100.00 100.00 France Bourbon AD5 100.00 0.00 100.00 0.00 France Bourbon AD6 100.00 0.00 100.00 0.00 France Bourbon Asia Asset Pte Ltd 100.00 100.00 100.00 100.00 Singapore Bourbon Assets Singapore Pte Ltd 100.00 100.00 100.00 100.00 Singapore Bourbon Baltic Ltd Liability Company 100.00 100.00 100.00 100.00 Russia Bourbon Black Sea 100.00 100.00 100.00 100.00 Romania Bourbon Brazil Participações 100.00 100.00 100.00 100.00 Brazil Bourbon Cap RE 100.00 100.00 100.00 100.00 Luxembourg Bourbon Capital 100.00 100.00 100.00 100.00 Luxembourg Bourbon Capital Holdings USA 100.00 100.00 100.00 100.00 United States Bourbon China Group Ltd 100.00 100.00 100.00 100.00 China Bourbon Cormorant Lease SAS 100.00 100.00 0.00 0.00 France Bourbon Docking and Sourcing DMCEST (ex Bourbon Sourcing DMCEST) 100.00 100.00 100.00 100.00 United Arab Emirates Bourbon East Asia Pte Ltd 90.00 90.00 90.00 90.00 Singapore Bourbon Far East Pte Ltd 100.00 100.00 100.00 100.00 Singapore Bourbon Gabon SA 60.00 60.00 60.00 60.00 Gabon Bourbon Gaia Supply 100.00 100.00 100.00 100.00 France Bourbon Ghana International 49.00 49.00 49.00 49.00 France Bourbon Ghana Ltd 49.00 49.00 49.00 49.00 Ghana Bourbon International Mobility SA 100.00 100.00 100.00 100.00 Switzerland Bourbon Interoil Nigeria Ltd 40.00 40.00 40.00 40.00 Nigeria Bourbon Logistic Nigeria Limited 100.00 100.00 100.00 100.00 Nigeria Bourbon Logistics Indonesia 100.00 100.00 95.00 95.00 Indonesia Bourbon Management (formerly CFG) 100.00 100.00 100.00 100.00 France Bourbon Marine Services Austral 100.00 100.00 100.00 100.00 Mauritius Bourbon Marine Services Greenmar 100.00 100.00 100.00 100.00 Mauritius Bourbon Maritime 100.00 100.00 100.00 100.00 France Bourbon Mauritius 100.00 0.00 100.00 0.00 Mauritius Bourbon Mobility (formerly Saint Nikolas, formerly Setaf) 100.00 100.00 100.00 100.00 France