2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 192 PARENT COMPANY FINANCIAL STATEMENTS 5 Notes to the Company financial statements 2.2 CHANGES IN EQUITY (in € thousands) Share Capital Share premiums Reserves and retained earnings Profit (loss) for the period Total Balance as of December 31, 2016 prior to the appropriation of income 48,493 91,021 582,099 28,371 749,984 Capital increase 735 9,767 10,502 Appropriation of 2016 income 28,371 (28,371) - Dividends paid (1) (18,973) (18,973) Profit (loss) for the period 71,925 71,925 Other changes - BALANCE AS OF DECEMBER 31, 2017 PRIOR TO THE APPROPRIATION OF INCOME 49,228 100,788 591,498 71,925 813,440 (1) of which €10,502 thousand paid in shares. 3/ Stock option (subscription or purchase) plans, bonus share award plans 3.1 STOCK OPTION SUBSCRIPTION OR PURCHASE PLANS BOURBON Corporation issued 11 stock option subscription or purchase plans, two of which were in force as of December 31, 2017, representing 793,700 stock options at that date. Their main features are shown in the table below: November 2012 December 2013 Date of authorization by the Combined General Meeting June 1, 2011 June 1, 2011 Date of authorization by the Board of Directors November 30, 2012 December 2, 2013 Number of stock options authorized 29,700 1,037,000 Total number of allotted stock options adjusted as at 12/31/2017 29,700 764,000 Number of beneficiaries 2 68 Start date November 2016 December 2017 Expiration date November 2018 December 2019 Subscription price in euros adjusted as at 12.31.2017 €19.82 €19.68 Subscription price in euros (before adjustment) €21.80 €19.68 N.B.: the only ground for early exercise is the death of the employee.