Brunel International N.V.

Earnings Release • Oct 30, 2015

Appendix to the press release 30 October 2015 Q3 2015

Highlights for the period ended 30 September

Brunel International (unaudited)
P&L amounts in EUR million
	Q3 2015	Q3 2014	Change %	YtD 2015	YtD 2014	Change %
Revenue	290.9	348.5	-17%a	941.7	1,029.9	-9%b
Gross Profit	58.8	63.7	-8%	172.4	183.5	-6%
Gross margin	20.2%	18.3%		18.3%	17.8%
Operating costs	43.8	43.7	0%c	133.9	127.8	5%d
EBIT	15.0	20.0	-25%	38.5	55.7	-31%
EBIT %	5.1%	5.7%		4.1%	5.4%
Average directs	10,806	12,039	-10%	11,041	12,197	-9%
Average indirects	1,601	1,606	0%	1,632	1,564	4%
Ratio direct / Indirect	6.8	7.5		6.8	7.8

a -17% at constant currencies

b -14% at constant currencies

c -1% at constant currencies

d 2% at constant currencies

Brunel Oil & Gas (unaudited)

P&L amounts in EUR million
----------------------------

	Q3 2015	Q3 2014	Change %	YtD 2015	YtD 2014	Change %
Revenue	186.9	246.7	-24%a	639.3	727.5	-12%b
Gross Profit	23.2	28.8	-19%	76.2	85.4	-11%
Gross margin	12.4%	11.7%		11.9%	11.7%
Operating costs	16.7	17.2	-3%c	52.2	49.6	5%d
EBIT	6.5	11.6	-44%	24.0	35.8	-33%
EBIT %	3.5%	4.7%		3.8%	4.9%
Average directs	6,189	7,534	-18%	6,560	7,736	-15%
Average indirects	707	745	-5%	736	729	1%
Ratio direct / Indirect	8.8	10.1		8.9	10.6

a -25% at constant currencies

b -20% at constant currencies

c -5% at constant currencies

d -2% at constant currencies

Brunel Energy (unaudited)

P&L amounts in EUR million
	Q3 2015	Q3 2014	Change %	YtD 2015	YtD 2014	Change %
Revenue	159.0	202.3	-21%a	546.0	596.0	-8%b
Gross Profit	20.3	24.1	-16%	66.2	71.9	-8%
Gross margin	12.7%	11.9%		12.1%	12.1%
Operating costs	15.8	16.0	-1%c	49.1	46.2	6%d
EBIT %	2.8%	4.0%		3.1%	4.3%
Ratio direct / Indirect	8.5	9.7		8.6	10.2
EBIT Average directs Average indirects	4.5 5,836 683	8.1 6,967 718	-45% -16% -5%	17.1 6,104 711	25.8 7,113 700	-34% -14% 2%

a -24% at constant currencies

b -17% at constant currencies

c -4% at constant currencies

d -2% at constant currencies

Brunel Projects (unaudited)

P&L amounts in EUR million
	Q3 2015	Q3 2014	Change %	YtD 2015	YtD 2014	Change %
Revenue	27.8	44.4	-37%a	93.4	131.5	-29%b
Gross Profit	2.9	4.7	-37%	9.9	13.5	-26%
Gross margin	10.6%	10.6%		10.7%	10.2%
Operating costs	0.9	1.2	-27%c	3.0	3.4	-12%d
EBIT	2.0	3.5	-41%	6.9	10.0	-31%
EBIT %	7.3%	7.8%		7.4%	7.6%
Average directs	353	567	-38%	456	623	-27%
Average indirects	24	27	-11%	25	29	-14%
Ratio direct / Indirect	14.7	21.0		18.2	21.5

a -32% at constant currencies

b -29% at constant currencies

c -22% at constant currencies

d -13% at constant currencies

Brunel Europe (unaudited)

Q3 2015	Q3 2014	Change %	YtD 2015	YtD 2014	Change %
					0%
					-2%
					7%
		-7%			-24%
10.0%	10.9%		6.9%	9.1%
					0%
					7%
5.3	5.3		5.1	5.4
	104.1 35.6 34.2% 25.2 10.4 4,617 879	101.8 35.0 34.3% 23.9 11.1 4,505 846	2% 2% 6% 2% 4%	302.4 96.3 31.8% 75.3 21.0 4,481 881	302.4 98.1 32.4% 70.6 27.5 4,461 820

Brunel Germany (unaudited)

P&L amounts in EUR million
	Q3 2015	Q3 2014	Change %	YtD 2015	YtD 2014	Change %
Revenue	51.1	52.9	-3%	145.6	153.1	-5%
Gross Profit	19.8	20.5	-4%	51.7	55.5	-7%
Gross margin	38.8%	38.8%		35.5%	36.3%
Operating costs	13.2	12.7	4%	38.8	36.5	6%
EBIT	6.6	7.8	-16%	12.9	19.1	-32%
EBIT %	12.9%	14.8%		8.9%	12.5%
Average directs	2,083	2,169	-4%	2,050	2,176	-6%
Average indirects	435	431	1%	445	420	6%
Ratio direct / Indirect	4.8	5.0		4.6	5.2

Brunel Netherlands (unaudited)

P&L amounts in EUR million
	Q3 2015	Q3 2014	Change %	YtD 2015	YtD 2014	Change %
Revenue	45.9	42.4	8%	134.2	129.0	4%
Gross Profit	13.9	12.6	10%	38.9	37.4	4%
Gross margin	30.2%	29.6%		28.9%	29.0%
Operating costs	10.1	9.4	8%	30.4	28.7	6%
EBIT	3.8	3.2	18%	8.5	8.7	-2%
EBIT %	8.2%	7.6%		6.3%	6.8%
Average directs	2,199	2,009	9%	2,086	1,957	7%
Average indirects	374	352	6%	366	336	9%
Ratio direct / Indirect	5.9	5.7		5.7	5.8