2017 REGISTRATION DOCUMENT

BOURBON 2017 Registration Document 130 CONSOLIDATED FINANCIAL STATEMENTS 4 Notes to the consolidated financial statements The results of the value in use assessment as at December 31, 2016 are as follows: (in € millions) Goodwill Economic assets as of 12.31.2016 including goodwill* ** Estimated going concern value* Excess of estimated going concern value over the value* of assets including goodwill** Marine Services – DEEP 8.2 960.3 924.3 (36.0) Marine Services – SHALLOW 6.1 867.0 962.4 95.4 Marine Services – CREW - 368.0 906.8 538.8 Subsea Services 19.2 534.2 884.5 350.3 * Adjusted data: operating joint ventures over which the Group exercises joint control are fully consolidated. ** Economic assets = goodwill, intangible assets and property, plant and equipment, and working capital requirement. Taken together, these valuations of value in use resulted in recording impairment on the Marine Services DEEP CGU in the amount of €36 million. For the year ended December 31, 2017, the results of the sensitivity analyses performed on individual changes in the assumptions used are presented below and represent the impacts as compared with the estimated values in use presented in the previous table: Sensitivity of the value in use measurement of the CGUs (in € millions) Decrease of 0.5 pt in the discount rate Increase of 0.5 pt in the discount rate Decrease of 0.5 pt in the growth rate Increase of 0.5 pt in the growth rate 10% decrease in cash flows 10% increase in cash flows Marine Services – DEEP 67.4 (57.7) (47.5) 55.5 (73.7) 73.7 Marine Services – SHALLOW 76.0 (64.9) (54.5) 63.6 (69.5) 69.5 Marine Services – CREW 54.2 (46.6) (37.4) 43.7 (73.3) 73.3 Subsea Services 73.3 (62.8) (51.5) 60.1 (83.8) 83.8 Taking into account the individual changes to the assumptions used, the value in use of each CGU would be as follows: Value in use of CGUs (in € millions) Decrease of 0.5 pt in the discount rate Increase of 0.5 pt in the discount rate Decrease of 0.5 pt in the growth rate Increase of 0.5 pt in the growth rate 10% decrease in cash flows 10% increase in cash flows Marine Services – DEEP 118.4 (6.7) 3.5 106.5 (22.7) 124.7 Marine Services – SHALLOW 159.9 19.0 29.3 147.5 14.4 153.3 Marine Services – CREW 496.3 395.4 404.6 485.7 368.8 515.3 Subsea Services 486.9 350.8 362.0 473.7 329.7 497.4 Under each scenario, the individual rates according to which an impairment would have to be recorded are the following: DEEP SHALLOW CREW SUBSEA Discount rate of: 9.4% 9.7% 21.5% 14.8% Growth rate of: 1.9% 1.7% no impairment even in the event of a growth rate of zero Decrease in cash flows of: 6.9% 12.1% 60.3% 49.3%