ANNUAL REPORT 2017

BUREAU VERITAS One of BUREAU VERITAS’ main business units supports customers through testing of oil and lubricants. This testing is done for a variety of commercial reasons, including to support reliable maintenance programs for equipment that uses lubrication through its rotating equipment. BUREAU VERITAS has 14 laboratories globally that provide this service, but until 2017 was without a laboratory in Europe, one of the main global markets. IK4-TEKNIKER has for 30 years managed an industry leading oil analysis laboratory focused on the Spanish market, and increasingly on the renewables sector. Following initial conversations between Bureau Veritas and IK4-TEKNIKER, it became clear that collaboration between the two parties may enable Bureau Veritas to complete its global network of laboratories, while systemically providing a broad and growth-focused future for the existing IK4-TEKNIKER laboratory. As BUREAU VERITAS, we were attracted to work with IK4-TEKNIKER due to the strong technological leadership shown in the European market, and its long standing customer relationships which demonstrate a focus on customer service. Ultimately, together we decided to create a ‘spin-off’ business, Lubrication Management SL, and BUREAU VERITAS now owns the majority stake in that business. During this process, the management team of IK4-TEKNIKER was constructive, innovative and focused on delivering a solution for the team members working in the laboratory, the customer base of the laboratory and future R&D efforts of IK4- TEKNIKER in this field and others. Today, we are joint shareholders of Lubrication Management SL, and look forward to growing this business to service the requirements of our customers in Spain and across Europe. 05.1. THE VOICE OF OUR CUSTOMERS AND COLLABORATORS 05.1. BUREAU VERITAS 05.2. PLADOMIN 05.3. TSK 05.4. ULMA HANDLING SYSTEMS BUREAU VERITAS is a global testing, inspection and certification company with over 70,000 employees around the world. Matthew Hopkinson Senior Vice President, BUREAU VERITAS INDEX 01 MESSAGE FROM THE CHAIR 02 REPORT BY THE GENERAL MANAGEMENT 03 MARKET MANAGEMENT 04 TECHNOLOGY MANAGEMENT 05 THE VOICE OF OUR CUSTOMERS AND COLLABORATORS 06 REVENUES AND BOOK BALANCE 07 COLLABORATING ORGANISATIONS & GOVERNING BOARD 08 IK4 RESEARCH ALLIANCE