2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 179 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements 4 6/ Financial Glossary Adjusted data: Internal reporting (and thus adjusted financial information) records the performance of operational joint ventures in which the Group has joint control by the full consolidation method. The adjusted financial information is presented by activity and by Segment based on the internal reporting system and shows internal segment information used by the principal operating decision maker to manage and measure the performance of BOURBON (IFRS 8). Moreover, internal reporting – and therefore adjusted financial information – does not reflect the application of IAS 29 (Financial Reporting in Hyperinflationary Economies), applicable for the first time in 2017 (retroactively to January 1) to an operating joint venture based in Angola. EBITDAR: revenue less direct operating costs (except bare-boat rental costs) and general and administrative costs. EBITDA: EBITDAR less bareboat charter costs. EBIT: EBITDA after depreciation, amortization and provisions and capital gains on equity interests sold, but excluding share of net income of companies under equity method. Operating income (EBIT) after share of results from companies under equity method: Operating income (EBIT) after share of results from companies under the equity method Capital invested or employed: including (i) shareholders’ equity, (ii) provisions (including net deferred tax), (iii) net debt; they are also defined as the sum of (i) net non-current assets (including advances on fixed assets), (ii) working capital requirement, and (iii) net assets held for sale. Average capital employed excl. advances: is understood as the average of the capital employed at the beginning of the period and end of the period, excluding installments on fixed assets. Freecashflow: net cash flows fromoperating activities after including incoming payments and disbursements related to acquisitions and sales of property, plant and equipment and intangible assets.