2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 211 OTHER LEGAL AND FINANCIAL INFORMATION Information regarding the Company 6 III – An employee of the Company may be appointed as Director only if his employment contract corresponds to an actual job. He shall not lose the benefit of such employment contract. The number of employee Directors may not exceed one third of the Directors in office. IV – In the event of a vacancy owing to death or to the resignation of one or more Directors, the Board of Directors may, between two Shareholders’ Meetings, make appointments on a temporary basis. If the number of Directors falls below the legal minimum, the remaining Directors must immediately convene the Ordinary General Meeting in order to fill the vacancies on the Board. Temporary appointments made by the Board shall be subject to ratification by the next Ordinary General Meeting. Failing ratification, the deliberations and acts carried out previously by the Board shall remain valid nonetheless. If the Board neglects making the required appointments or convening the meeting, then any interested party may ask the Chief Judge of the Commercial Court, ruling on request, to appoint a representative in charge of convening the Shareholders’ Meeting so that such appointments may be made or ratified as the case may be. V – Every Director must own 300 shares in the Company. If this is not the case on the date of his appointment or at any time in the course of his terms of office, he shall be considered as having automatically resigned if he fails to remedy the situation within a period of six months. 1.4 ORGANIZATION AND DELIBERATIONS OF THE BOARD (ARTICLE 14 OF THE BYLAWS) I – Chairman The Board of Directors shall elect a Chairman from among its members. The Chairman must be an individual for the appointment to be valid. The Board determines the Chairman’s compensation. The Chairman of the Board of Directors must be under 70 (seventy) years of age. If the Chairman reaches that age while in office, he or she shall be deemed to have resigned automatically and a new Chairman shall be appointed as provided for in the first article. The Chairman is appointed for a term that may not exceed his or her term as a Director. The Chairman may be reelected. The Chairman may be removed at any time by the Board of Directors. In the event of the temporary unavailability or death of the Chairman, the Board of Directors may delegate a Director to serve as chair. In the event of temporary unavailability, this delegation is for a limited time; it is renewable. In the event of death, it remains in effect until election of the new Chairman. II − Board meetings The Board of Directors meets as often as required by the interests of the Company, upon notice given by the Chairman. Furthermore, if the Board has not met for more than two months, Directors constituting at least one-third of the members of the Board may request that the Chairman call a meeting with a particular agenda. The Chief Executive Officer may also ask the Chairman to call a meeting of the Board of Directors with a particular agenda. The Board shall meet at the head office or at any other location in the same city, and is chaired by its Chairman or, if the Chairman is unavailable, by a member appointed by the Board to chair it. It may meet in any other location with the approval of the majority of the Directors. A register shall be kept and signed by the Directors participating in the meeting. In accordance with legal and regulatory provisions, meetings of the Board of Directors may be held by video conference or any other means of telecommunication. Internal rules defined by the Board of Directors determine the practical procedures to be followed in using such means. III − Quorum and majority The Board of Directors may validly deliberate only if at least one-half of its members are present. Decisions are made by the majority of members present or represented. In the event of a tie, the Chairman will have the casting vote. In accordance with legal and regulatory provisions, Directors who participate in meetings by video conference or any other means of telecommunication shall be deemed present for purposes of calculating quorum and majority. IV − Representation Any Director may give a proxy to another Director by letter, fax, email, or telegram to represent them at a meeting. At a given meeting, each Director may hold only one proxy received pursuant to the paragraph above. These provisions shall apply to the permanent representative of a legal entity appointed as Director. V − Confidentialityobligation The Directors and any other persons called to attend Board meetings are bound by a confidentiality obligation with respect to confidential information designated as such by the Chairman of the Board. V −Minutes of meetings Meetings of the Board of Directors shall be recorded in minutes prepared in a special register with numbered and initialed pages, and kept at the head office in accordance with regulatory requirements. Meeting minutes shall indicate the names of the Directors present, excused, or absent. The minutes shall state the presence or absence of persons called to the meeting of the Board of Directors pursuant to law, and the presence of any other person having attended all or part of the meeting. Minutes shall be signed by the meeting’s Chairman and at least one other Director. In the event that the meeting Chairman is unavailable, minutes may be signed by at least two Directors.