BOURBON: Sustainable reorganization of the major part of the financial debt

Paris, July 3, 2017

Sustainable reorganization of the major part of the financial debt

As a result of the agreements relating to the modification of the conditions precedent to the implementation of the €910.8 million debt rescheduling agreement of March 6, 2017, and particularly the timetable for obtaining new financing and the repayment of an advance granted to JACCAR Holdings during the negotiation of the proposed acquisition of gas activities, BOURBON announces that the fulfillment of the new conditions means that the deadline for the definitive completion is now set at July 28, 2017 at the latest.

The main features of the reorganization of the major part of the company's financial debt, applicable margins and maturities, remain unchanged.

"Bourbon has now secured the conditions for the success of its 'Stronger for longer' action plan, with the firm backing of financial institutions and ICBC Financial Leasing," said Jacques de Chateauvieux, Chairman and Chief Executive Officer of BOURBON Corporation. "The group will be in a position to take advantage of the resumption of activity when it will occur."

About BOURBON

Among the market leaders in marine services for offshore oil & gas, BOURBON offers the most demanding oil & gas companies a wide range of marine services, both surface and sub-surface, for offshore oil & gas fields and wind farms. These extensive services rely on a broad range of the latest-generation vessels and the expertise of more than 9,300 skilled employees. Through its 37 operating subsidiaries the group provides local services as close as possible to customers and their operations throughout the world, of the highest standards of service and safety.

BOURBON provides two operating Activities (Marine Services and Subsea Services) and also protects the French coastline for the French Navy.

In 2016, BOURBON'S revenue came to €1,102.6 million and the company operated a fleet of 514 vessels as of December 31, 2016.

Placed by ICB (Industry Classification Benchmark) in the "Oil Services" sector, BOURBON is listed on the Euronext Paris, Compartment B.

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