Brunel International N.V.

Earnings Release • May 4, 2016

Appendix to the press release 4 May 2016 Q1 2016

Highlights for the period ended 31 March

Brunel International (unaudited)
P&L amounts in EUR million
	Q1 2016	Q1 2015	Change %
Revenue	238.4	333.7	-29% a
Gross Profit	47.9	59.3	-19%
Gross margin	20.1%	17.8%
Operating costs	38.8	45.0	-14% b
EBIT	9.1	14.3	-36%
EBIT %	3.8%	4.3%
Average directs	9,771	11,400	-14%
Average indirects	1,503	1,683	-11%
Ratio direct / Indirect	6.5	6.8

a -27 % at constant currencies

b -13 % at constant currencies

Brunel Energy (unaudited)

P&L amounts in EUR million
	Q1 2016	Q1 2015	Change %
Revenue	128.8	231.6	-44% a
Gross Profit	14.0	26.3	-47%
Gross margin	10.9%	11.4%
Operating costs	12.3	18.3	-33% b
EBIT	1.7	8.0	-78%
EBIT %	1.3%	3.4%
Average directs	5,005	6,886	-27%
Average indirects	626	788	-21%
Ratio direct / Indirect	8.0	8.7

a -42% at constant currencies

b -31% at constant currencies

Brunel Europe (unaudited)

P&L amounts in EUR million
	Q1 2016	Q1 2015	Change %
Revenue	109.6	102.1	7%
Gross Profit	34.0	33.0	3%
Gross margin	31.0%	32.3%
Operating costs	24.5	24.4	0%
EBIT	9.5	8.6	11%
EBIT %	8.7%	8.4%
Average directs	4,766	4,514	6%
Average indirects	862	881	-2%
Ratio direct / Indirect	5.5	5.1

Brunel Netherlands (unaudited)

P&L amounts in EUR million
	Q1 2016	Q1 2015	Change %
Revenue	51.7	45.2	14%
Gross Profit	15.0	13.8	9%
Gross margin	29.0%	30.5%
Operating costs	10.5	9.8	8%
EBIT	4.5	4.0	10%
EBIT %	8.6%	8.9%
Average directs	2,270	2,034	12%
Average indirects	382	358	7%
Ratio direct / Indirect	5.9	5.7

Brunel Germany (unaudited)

P&L amounts in EUR million
	Q1 2016	Q1 2015	Change %
Revenue	49.6	48.6	2%
Gross Profit	16.9	16.9	0%
Gross margin	34.2%	34.8%
Operating costs	11.9	12.5	-4%
EBIT	5.0	4.4	12%
EBIT %	10.1%	9.1%
Average directs	2,167	2,131	2%
Average indirects	408	452	-10%
Ratio direct / Indirect	5.3	4.7