FACTS & FIGURES2018

CHAIRMAN’SMESSAGE

Since it was first listed on the stock market over 20 years ago, BOURBON has confirmed its position as a major player in the offshore oil and gas marine services sector, with recognized operational performance.

Despite the current stabilization of the price of the oil barrel above $60 and the recovery in investments by our oil and gas clients, the group is still operating in a difficult context that is characterized by the overcapacity of the OSV market, that affects any significant rise in utilization rates and prices.

Even if the recovery of our clients’ activity is now perceptible, BOURBON’s results for 2018 reflect the impacts of this complex environment. Constant currency adjusted revenue decreased by 13% compared to 2017 and operational profitability dropped by 3.1 points to 26.2% at constant currency compared to 29.3% in 2017, notably due to rationalization efforts by the group and its operating affiliates and increased maintenance costs.

H oweve r , 2 0 1 8 a l s o s a w t h e d e p l oy m e n t o f o u r #BOURBONINMOTION strategic action plan, with:

• the establishment of three stand-alone companies: Bourbon Marine & Logistics, Bourbon Subsea Services and Bourbon Mobility,

• continuing cost reduction through the progressive deployment of our Smart shipping program,

• and the evolution toward offers of integrated services for the logistics needs of our clients. The initial success of these new offers reveals the validity of our strategic choices.

This letter will enable you to better grasp this strategic plan and the evolution of our group. I thank you for your confidence and the attachment you have shown to BOURBON and look forward to seeing you in Marseille next Friday, June 28.

Jacques de ChateauvieuxChairman of the Board of Directors

Proportion of revenues per region

1 Adjusted figures derived from internal reports (IFRS 8 standard) 2 Variation 2018/2017

55%11%

14%

20%

Europe MMI Africa Americas Asia

Adjusted revenues 1

689.5 M€ -19.9 %2

Adjusted earnings before interest, taxes, depreciation, amortization and rent costs 1 (EBITDAR)

> 142.7 M€ -43.5 %2

Net income, group share

> -457.8 M€

2018 RESULTS

95.8%TECHNICAL

AVAILABILITY1st

Floating wind farminstallation contractor

BOURBONMARINE &LOGISTICS

KEY FIGURESas of 31 December 2018

BOURBONSUBSEASERVICESKEY FIGURES

as of 31 December 2018

OPERATING IN

38COUNTRIES

34cranes: 12t to 250t

DIVERSIFIED CLIENTS PORTFOLIO

• SUPERMAJORS• CONTRACTORS• NAT. OIL COMPANIES• INDEPENDENTS

4,600EMPLOYEES

84% of seamen

211 moderns and standardized

VESSELS

925 EMPLOYEES

97.4%TECHNICAL

AVAILABILITY

4INTERNATIONALSHIPMANAGERS

€

€

357million

adjusted revenues

133million

adjusted revenues

20IMR vessels

BOURBONMOBILITYKEY FIGURES

as of 31 December 2018

30 yearsof experience

1st

WORLD LEADERin offshore personel transport

2,300 EMPLOYEES

78% of seamen

252CREW BOATS

€187millionadjusted revenues

15COUNTRIES OF OPERATION

8,000passengers

transported per day

1minto transfer

7 personsby boat landing

25 ROVsremote operated vehicles

• Results oriented• Simplification• Accountability

CULTURAL CHANGE

RESHAPE COSTSTRUCTURE

SERVICES ORIENTEDBUSINESS MODELS

RESTORE FINANCIALLEEWAY

• Cash focus• Financial e�ciency

DIGITAL FOR ALL• Applications• Business intelligence• Artificial intelligence• Machine learning• IoT for maintenance• Internal E-learning

NEW SERVICES• Integrated logistics• Turnkey projects in renewable energies• Onboard passengers entertainment (VOD, games, etc.) & "door-to-rig" o�ers

• Barrel price: 60$/70$• Clients needs in deep evolution• Loss of 40% of o�shore services market• 30% OSV fleet stacked

OIL & GASNEW NORMAL ENVIRONMENT

BOURBON’s 4 pillars:

• Safety• Technical availability of the fleet• Competences• Cost reductions

CLIENTS DEMAND:OPERATIONAL EXCELLENCE

Be the preferred company in o�shore marine services.#BOURBONINMOTION 2021 Strategic plan

3 Stand-alone companies, ready to deliver fit for purpose services to their customers and capture sustainable growth.

Operational Support CenterRemote control

Local shore support

Local & technological partnerships

Head O�ce

SMART SHIPPING PROGRAM

• Target: • 25% cost reduction by simplifying and digitalizing our operations • Increased safety and quality of services• Deployment on more than 100 "smart vessels"

SMART G&A• Adapt organization & cost structure to the new size of BOURBON (-40% of turnover since 2015)

BOURBONMARINE &LOGISTICS

BOURBONSUBSEASERVICES

BOURBONMOBILITY

With the fall in the price of a barrel in 2014, the oil industry experienced its most serious crisis in the past 30 years. The Offshore services market was hit hard and contracted by 30 to 40% in three years. BOURBON is convinced that, once the crisis is over, the Offshore services sector’s current model will have changed. This is why the group launched its #BOURBONINMOTION strategic action plan in 2018 to keep it competitive and meet the new requirements of its customers.

This plan is structured around four priorities:• Adapting our business model to more services for Bourbon Marine & Logistics,

Bourbon Subsea Services and Bourbon Mobility

• Optimizing our operational and organizational cost structure by capitalizing on the digital revolution

• Restore financial leeway

• Meeting the human challenge involved in the scope of the #BOURBONINMOTION plan by supporting changes in the Group’s culture.

This infographic gives a schematic overall view of the strategic plan and a comprehensive look at its main pillars and actions in progress.

SHAREHOLDER’S LOGBOOK

FINANCIAL CALENDAR

28 juin 2019 : Assemblée Générale annuelle 2019

05 Septembre 2019 : Publication des résultats du 1er semestre 2019

07 Novembre 2019 : Publication du chiffre d’affaires du 3ème trimestre et 9 mois 2019

REGISTRATION DOCUMENT

Le Document de Référence est consultable sur le site www.bourbonoffshore.com, rubrique « Investisseurs ».Des exemplaires papier seront disponibles sur demande lors de l’Assemblée Générale du 28 juin 2019.

LISTING DETAILS

• Euronext Compartiment B• Sicovam code: 6590• Mnémo: GBB• ISIN code: FR0004548873• FTSE code: 6063630• Numbers of share on

12/31/2018: 77 499 214

GOUVERNANCE

At 0424 / 2 019, t h e B o a rd o f Directors, assisted by a Censor, consisted of 9 members, 1 of whom was representing employees and 4 of whom were independants. Jacques de Chateauvieux, in his role of CEO, chaired it, assisted in his work by the Audit Committee and the Committee for Nominations, Remuneration and Governance, each composed of 3 members, 2 of whom were independent, and by the Director representing employees and the ad hoc committee, consisted of 4 members, 2 of whom were independants.

In the context of the next General Meeting, the Board of Directors proposes to: - renew the mandate of:

Mrs Xiaowei Wang M. Jacques d’Armand de Chateauvieux & Christian Lefèvre

Other members of the board whose mandate is in progress:

M. Mahmud B. Tukur M. Antoine Grenier M. Adrien de Chomereau de Saint-André Mme Adeline Challon-Kemoun Mme Elisabeth Van Damme

Director representing employees:M. Stéphane Leroux

STOCKMARKET INFORMATION

CONTACTInvestor relations, analysts, shareholders:

investor-relations@bourbon-online.com

All group information, including a space dedicated to shareholders, is available at: www.bourbonoffshore.com

Follow BOURBON on the social networks:

0 800 871 457

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A

2016 2017 2018 2019

BOURBON Corp. France CAC 40 Brent Crude (IFEU $/bbl) Continuous

0

50

100

150

200

250

*Shareholder structure as of 31 December 2018

33 %Public

1 %Employees

7,5 %Mach-Invest

International SA6 %Monnoyeur SA

52,5 %JACCAR

Holdings SAS