2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 213 OTHER LEGAL AND FINANCIAL INFORMATION Information regarding the Company 6 The Board of Directors shall determine the compensation of the Executive Vice Presidents. In the event of the departure or unavailability of the Chief Executive Officer, the Executive Vice Presidents shall retain their positions and powers until appointment of a new Chief Executive Officer, unless the Board of Directors shall decide otherwise. 1.7 ADVISORS (ARTICLE 18 OF THE BYLAWS) A college of advisors may be instituted, composed of a maximum of two advisors and appointed by the Board of Directors for a three- year term. It assists the Board of Directors in carrying out its duties and participates in Board meetings in an advisory and non-voting capacity. 1.8 SHAREHOLDERS’ MEETINGS (ARTICLE 19 OF THE BYLAWS) Shareholders’ Meetings shall be called and shall deliberate under the conditions set by law and regulations. They shall be held in any location specified in the meeting notice. Any shareholder, however many shares he or she owns, may participate in the meetings in person or by proxy, provided they give proof of identity and proof of ownership of their shares, either in registered form or in bearer form where held in a bearer securities trading account held by a certified intermediary, no later than the second business day preceding the meeting at midnight Paris time. Account registration or entry of shares in the bearer share accounts kept by the authorized intermediary must be evidenced by an attendance certificate issued by the latter and appended to the postal voting form or the proxy form or to the application for an admittance card. Once a shareholder has already cast his postal vote, sent off a proxy form or applied for an admission card or certificate of participation, he may no longer choose another method of participation in a meeting. In the absence of the Chairman and failing any mandatory provisions to the contrary, the meeting is chaired by the Director specially delegated by the Board. If there is no appointed Director, the meeting elects a Chairman. 1.9 OWNERSHIP THRESHOLDS The bylaws do not stipulate specific requirements for ownership thresholds. 1.10 APPROPRIATION AND DISTRIBUTION OF NET INCOME (ARTICLES 24 AND 25 OF THE BYLAWS) The income statement summarizing income and expenses for the year shows the profit or loss for the year after deduction of depreciation, amortization and provisions. At least 5% of the earnings for the year minus any prior losses shall be used to fund the legal reserve. This withdrawal shall cease to be mandatory when the legal reserve fund equals one tenth of the share capital; it shall resume when the legal reserve falls below one tenth of the capital for any reason. Distributable earnings consist of the profit for the year less prior losses and sums placed in reserve as required by law and the bylaws, plus any retained earnings. The Shareholders’ Meeting may withdraw from these earnings any sums it deems appropriate to be carried forward to the following year or to be placed in one or more general or special reserves, the use of or allocation to which to be determined by it. The balance, if any, is divided among all shares. Dividends are first taken from the distributable earnings for the year. The General Meeting may also decide to distribute sums taken from the reserves at its disposal, and must expressly note the reserve items from which these sums are taken. Excluding the case of a capital reduction, no distribution may be made to shareholders when the shareholders’ equity is or would become, after any distribution, less than the amount of the capital plus reserves which may not be distributed under the law or bylaws. The revaluation reserve may not be distributed. It may be capitalized in whole or in part. The loss, if any, is carried forward after approval of the financial statements by the shareholders and is charged against the profits from subsequent years until it is extinguished. The Shareholders’ Meeting has the option of granting to each shareholder for all or part of the dividend paid out an option between payment of the dividend in shares, subject to the legal conditions, or in cash. The procedures for payment of the dividends in cash shall be set by the Shareholders’ Meeting or by the Board of Directors. Cash dividends must be paid within a maximum period of nine months after the close of the fiscal year unless this deadline is extended by court order. However, when a balance sheet prepared during or at the end of the year and certified by a Statutory Auditor shows that the Company has earned a profit since the end of the previous year and after the required depreciation, amortization and provisions, and after deduction of any prior losses and sums to be placed in reserve as required by the law or bylaws, interim dividends may be paid before approval of the financial statements for the year. The amount of such dividends may not exceed the amount of the profit as shown.