Brunel International N.V.

Earnings Release • Nov 3, 2017

Appendix to the press release 3 November 2017 Q3 2017

Highlights for the period ended 30 September

Brunel International (unaudited) P&L amounts in EUR million
Revenue	194.5	204.7	-5%	a	579.8	674.3	-14%	b
Gross Profit	46.3	45.3	2%		133.3	140.9	-5%
Gross margin	23.8%	22.1%			23.0%	20.9%
Operating costs	39.3	37.2	6%	c	121.7	116.2	5%	d
EBIT	7.0	8.1	-14%		11.6	24.7	-53%
EBIT %	3.6%	4.0%			2.0%	3.7%
Average directs	9,665	8,931	8%		9,283	9,398	-1%
Average indirects	1,500	1,456	3%		1,485	1,494	-1%
Ratio direct / Indirect	6.4	6.1			6.3	6.3

a -5 % like-for-like

b -15 % like-for-like

c 6 % like-for-like

d 4 % like-for-like

Like-for-like is measured excluding the impact of currencies and acquisitions

Brunel Global Business (unaudited)

P&L amounts in EUR million
	Q3 2017	Q3 2016	Δ%		YTD 2017	YTD 2016	Δ%
Revenue	82.7	98.3	-16%	a	245.9	346.7	-29%	b
Gross Profit	9.5	10.5	-10%		28.2	37.8	-25%
Gross margin	11.4%	10.7%			11.5%	10.9%
Operating costs	10.7	11.1	-4%	c	33.4	36.1	-7%	d
EBIT	-1.2	-0.6	97%		-5.2	1.7	-404%
EBIT %	-1.5%	-0.6%			-2.1%	0.5%
Average directs	4,804	4,275	12%		4,502	4,700	-4%
Average indirects	515	554	-7%		510	587	-13%
Ratio direct / Indirect	9.3	7.7			8.8	8.0

a -15 % like-for-like

b -30 % like-for-like

c -3 % like-for-like

d -9 % like-for-like

Like-for-like is measured excluding the impact of currencies and acquisitions

Brunel Europe (unaudited)

P&L amounts in EUR million
	Q3 2017	Q3 2016	Δ%	YTD 2017	YTD 2016	Δ%
Revenue	111.8	106.4	5%	333.9	327.7	2%
Gross Profit	36.9	35.6	4%	105.1	104.0	1%
Gross margin	33.0%	33.4%		31.5%	31.7%
Operating costs	25.8	25.0	3%	80.7	74.3	9%
EBIT	11.1	10.6	5%	24.4	29.7	-18%
EBIT %	9.9%	9.9%		7.3%	9.1%
Average directs	4,861	4,656	4%	4,782	4,698	2%
Average indirects	929	867	7%	924	866	7%
Ratio direct / Indirect	5.2	5.4		5.2	5.4

Brunel Germany (unaudited)

Q3 2017	Q3 2016	Δ%	YTD 2017	YTD 2016	Δ%
56.5	54.4	4%	164.8	156.9	5%
21.1	20.5	3%	58.4	56.3	4%
37.3%	37.8%		35.4%	35.9%
12.8	12.6	2%	40.0	37.1	8%
8.3	7.9	4%	18.4	19.2	-4%
14.7%	14.6%		11.1%	12.2%
2,331	2,247	4%	2,287	2,188	5%
424	399	6%	416	410	2%
5.5	5.6		5.5	5.3

Brunel Netherlands (unaudited)

Q3 2017	Q3 2016	Δ%	YTD 2017	YTD 2016	Δ%
46.8	44.1	6%	141.3	145.0	-3%
13.9	12.9	7%	40.5	41.4	-2%
29.7%	29.3%		28.7%	28.5%
11.0	10.3	7%	34.4	31.1	11%
2.9	2.6	14%	6.1	10.3	-41%
6.2%	5.8%		4.3%	7.1%
2,204	2,081	6%	2,170	2,177	0%
435	399	9%	436	385	13%
5.1	5.2		5.0	5.7