2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 202 PARENT COMPANY FINANCIAL STATEMENTS 5 Notes to the Company financial statements 21/ Subsidiaries and equity interests (in € thousands) Form Share Capital Equity other than capital % owned Detailed information on subsidiaries and equity interests whose inventory value exceeds 1% of BOURBON Corporation’s share capital A − Subsidiaries (more than 50% owned by BOURBON Corporation) BOURBON Maritime – France SASU 3,049 327,704 100 Financière BOURBON – France SNC 626 319 52 B − Equity interests (10% to 50% of capital held by BOURBON Corporation) Information regarding the other subsidiaries and equity interests A − Subsidiaries (more than 50% owned by BOURBON Corporation) 1. French subsidiaries - - - - 2. Foreign subsidiaries - - - - B − Equity interests (10% to 50% of capital held by BOURBON Corporation) 1. French subsidiaries - - - - 2. Foreign subsidiaries - - - - N.B.: for foreign companies, the share capital and equity are converted at the closing rate, while the result and revenues are converted at the average rate.