Bourbon, International leader in marine services for modern offshore

Audit Committee

The purpose of the Audit Committee is to assist the Board of Directors in order to ensure the accuracy and fairness of the BOURBON parent company and consolidated financial statements and the quality of the internal control and of the information issued to the shareholders and to the markets.

Its main responsibilities are listed below:

• managing the procedure for selecting auditors before submitting results to the Board
• reviewing in advance and giving its opinion on draft annual and midyear financial statements
• examining the relevance and permanence of the accounting rules and principles used in preparing the financial statements and preventing any violations of such rules
• ensuring that any changes in the scope of the consolidated companies are presented, and providing any necessary explanations
• interviewing, as it deems necessary, the auditors, the Management, Financial Management, internal audit or any other member of the management
• evaluating the effectiveness and quality of the group’s internal control systems and procedures, and in particular, seeing to it that the internal control committee is established and operating properly
• reviewing the group’s financial and cash position and any significant risks faced by it
• examining the procedures adopted to evaluate and manage risk

Work of the Audit Committee

The committee deals mainly with the following issues, among others:

• review of the financial statements
• review of cartography of risks
• management of foreign exchange risk
• following up on the BOURBON 2015 investment program

Composition

• Christian Munier
• Marc Francken, Chairman of the Audit Committee
• Agnès Pannier-Runacher