Promoting infrastructure solutions for sustainable mobility / Profi le / COLAS 2017 1

Colas, a subsidiary of the Bouygues Group, is a world leader in the construction and maintenance of transport infrastructure. Its 55,000 employees on fi ve continents work together to serve a mission: promoting infrastructure solutions for sustainable mobility. In a world where mobility needs are constantly growing, Colas relies on worldwide collective expertise and know-how in innovation to design and build solutions that optimize mobility infrastructure: highways, roads, streets, railways, reserved-lane public transport, airports, logistics hubs, etc. Colas thus provides a full range of solutions from engineering, fi nancing, construction to maintenance and services. The great challenge of today’s world is to invent new forms of mobility that respond to the expectations and needs of all stakeholders – customers, users, employees, public authorities, etc. – in terms of social, societal and environmental responsibility. Colas is fully committed to this approach, and continues to pave the ways to the sustainable mobility of tomorrow. Key indicators 2017 / Profi le /

2 COLAS 2017

55,0 00 800 construction €11.7 B employees business units in revenue 50 countries 2,000 material on 5 continents production units €328 M in net profi t 80,000 (attributable to the Group) projects

52% 22% 17% 9%

Revenue by geographic zone 52 % 48% (1) International 22% 17% 9% (1) Including French Overseas North America Europe Rest of the Departments and Regions. (excl. France) World COLAS 2017 3 2%

3%

5%

69% 13% 8%

Revenue by business segment 82 % 18% Roads Specialized activities

69% 13% 8% 3% Construction and Production and Railways: Road Safety maintenance of recycling of construction, and Signaling: roads, highways, construction renewal, and manufacture, runways, ports, materials maintenance of installation, logistics hubs, urban (aggregates, railway networks maintenance of development, emulsions and (high-speed and road equipment reserved lane binders, asphalt conventional lines, (safety, signing, public transport mixes, ready-mix tramways, metros). road marking, traffic networks for buses concrete, bitumen) management). and tramways, through a tight-knit 5% recreational network of Waterproofing: 2% facilities, production sites. production Networks: environmental of impervious installation and projects, etc., membranes, maintenance of along with civil and work pipes and pipelines engineering involving roofing, for fluids (oil, natural and building siding, cladding, gas, water) and dry in certain regions. waterproofing of networks (electricity, buildings, sidewalks, heating, telecom). flooring and roadways, sidewalks with mastic asphalt. Colas around the world / The Colas network /

4 COLAS 2017 Revenue by geographic zone 52% 22% 17% 9% France North Europe Rest of America (excl. France) the World

COLAS 2017 5 Canada France Africa, Middle East, Alberta Mainland Indian Ocean British Columbia France Northwest Algeria Territories Overseas Benin Nunavut Departments Botswana Ontario and Regions Burkina Faso Quebec French Guiana Comoros Saskatchewan Guadeloupe Congo Yukon Martinique Côte d’Ivoire Mayotte Egypt Reunion Island Equatorial Guinea United States Gabon Alaska Guinea Conakry Arkansas Northern Kenya California Europe Madagascar Mauritius Colorado Morocco Florida Mozambique Greenland Namibia Illinois Iceland Missouri Ireland Oman Nebraska Isle of Man Qatar New York Saudi Arabia Ohio Senegal Pennsylvania South Africa South Carolina Togo South Dakota Tunisia Virginia Central Uganda Wyoming Europe United Arab Emirates Zambia Croatia Asia, Oceania Slovakia Australia Slovenia Cambodia China India South Indonesia America Malaysia New Caledonia Chile Singapore Peru South Korea Venezuela Thailand Vietnam Global collective expertise serving a strong brand and profitable growth

6 COLAS 2017 In 2017, in a more favorable economic and M 25 in Hungary, as well as in Canada context, revenue at Colas totaled 11.7 billion where we are involved in the construction euros, up 6% compared to 2016 and 7% of the Southwest Ring Road in Calgary, and in at constant scope and exchange rates, after Madagascar where we are renovating and three consecutive years of decline. Operating expanding infrastructures at the Antananarivo income amounted to 357 million euros, and Nosy Be airports as part of a concession. a 33-million-euro improvement. The operating Colas Rail also secured three major contracts profi t margin increased slightly at 3% for the renewal and maintenance of rail compared to 2.9% in 2016. Net profi t networks in France and the United Kingdom, attributable to the Group came to 328 million along with extensions of in Mainland euros, down 27 million euros from 2016, France and Morocco, and light metros in which had benefi ted from 72 million euros Hanoi and Jakarta. With our subsidiary Colas in net capital gains from the sale of stakes Projects, created in 2017 and dedicated to in Atlandes and Adelac motorway concession major contracts, we hope to win more new / Interview / companies. At the end of December 2017, contracts in 2018. Colas had a high level of work on hand at Hervé Le Bouc, 7.6 billion euros, up 7% and 9% at constant Colas has acquired the Miller Chairman and CEO exchange rates compared to the end of McAsphalt Group in Canada. Why December 2016. is this deal such a major step for of Colas Colas in North America? Does 2017 mark the return On August 30, we signed a memorandum of Colas to growth? of understanding for the acquisition of 100% 2017 is the fi rst real year of growth for Colas in of the shares in Miller McAsphalt. The closing ten years. Revenue grew, and we secured more took place on February 28, 2018. This is Colas’ large contracts. We also got back on track to largest acquisition in Canada in its history. The external growth. As for our business activity, Miller McAsphalt Group, which specializes in we benefi ted from the recovery of the road road construction and bitumen distribution, is a market in mainland France and central Europe. perfect complementary fi t with Colas Canada. In France, local authorities are in the second We will increase our foothold in Ontario, which half of their electoral cycle, launching new has signifi cant growth potential, complete our projects for trams and bus network in Canada, and strengthen our bitumen networks. France’s second Highway Plan and storage and distribution business across Greater Paris projects boosted activity as well. the country. This major acquisition will In addition, we diversifi ed activities in our road substantially strengthen our North American subsidiaries, in line with our action plan: work footprint. We also made other smaller for private individuals, under the Colas & Vous acquisitions, mainly in the quarry business brand, deconstruction, depollution, and the in France and North America, but also in trading of materials. Thanks to EU funding, activities related to our core business, such Europe fully benefi ted from major road and as maintenance and airport services in the highway projects in Central Europe. In North United Kingdom, deconstruction and asbestos America, the subsidiaries were able to offset removal in Switzerland as well as building the impact of unfavorable weather. In the Rest project management in Hungary. of the World, we made headway, particularly in Australia. Lastly, our Specialized Activities Where is Colas’ innovation remained stable for the most part, with growth program heading? in Networks and Waterproofi ng, whereas Colas’ mission is to promote infrastructure Railways and Road Safety, Signaling solutions for sustainable mobility. In other remained stable. words, we design and build solutions that optimize mobility infrastructures, In 2017, Colas also won a great by integrating the expectations of our number of major contracts. Which stakeholders in terms of social, societal and business segments are involved, environmental responsibility. Our new slogan and where are the projects located? “We open the way” bears witness to the fact Indeed, 2017 was rich in successful that our approach to innovation is at the heart commercial endeavors. We won major of our mission, and continues to enrich our contracts in all our areas around the world, global collective expertise. In 2017, we paved both in Roads and in Railways. In central the way ahead with innovation in a number of Europe, of course, with Motorways M 30 fi elds. Digital transformation fi rst of all, with the creation of a dedicated unit called Mobility by Colas to develop a “Smart Mobility” offer for responsible, connected mobility. We are also partnering with Spallian, distributor of the TellMyCity app, which allows users in a local community to send back information about the conditions of the network. These initiatives are part of the drive to leverage the data we have and offer our customers mobility solutions. Also, the year was marked by the launch of a new technical innovation: the Flowell dynamic signaling solution, which aims to enhance safety on the road and to improve the way we share public space, depending on traffi c levels and plurimodality. At the end of the year, Flowell entered the full-scale experimental phase with in COLAS 2017 7 particular the installation of a trial site in western France. Last but not least, just a word on Wattway and BIM (Building Information Modeling). The Wattway team is still evaluating the uses of our breakthrough innovation, with feedback from trial sites in France and abroad. As for BIM, which helps optimize projects from start to fi nish, it is being rolled out around the world.

Faced not only with the upheavals caused by the major challenges the world is dealing with today, but also by the emergence of a new economy, are you confi dent in the future of Colas? The main underlying trends such as population growth, urbanization, environmental issues related in particular to the energy transition, new forms of mobility, etc. are in the long term favorable to the markets in which we operate. In addition, we hold leadership positions in the construction and maintenance of transport infrastructure, with recognized global collective expertise and a strong brand. We also benefi t from a vertical integration of our activities in most of our local units, a strong local network coupled with a capacity to respond to complex offers and to perform major projects worldwide, without forgetting about our innovative momentum and our solid fi nancial structure. I am therefore very confi dent in the future of Colas. Allow me slightly in 2018, in a market boosted by to underline the importance of Colas’ vision, the “Greater Paris” projects, by the second of what Colas represents as a global group, highway plan and by a resumption in and how important I think it is to draw public-funded projects. We plan to recruit more value from that. Colas boasts almost more than 3,200 people in 2018 in France. century-old experience, know-how, expertise, In Europe, the Roads business should be on human resources, data, and a strong brand. the rise. In North America, we still haven’t felt What I call the “Colas Way” is a sustainable the full impact of federal infrastructure plans. competitive edge. I am also confi dent in our Colas is positioning itself on major P3 projects development strategy, which is based on four in Canada and the acquisition of Miller priorities: enriching our range of offers, McAsphalt will already lead to a sharp sharing our collective operational expertise increase in Colas Canada’s revenue as early worldwide, mastering the two key resources of as 2018. In the Rest of the World, markets are our core business – aggregates and bitumen – mostly upbeat, except in a few specifi c areas, and strengthening and expanding our network and there are a number of opportunities on of permanent locations around the world. major projects. With work on hand at the end of December 2017 up a signifi cant 9%, both And in the immediate future, for Mainland France and the international what is your outlook for 2018? and overseas units at constant exchange rates, The return of a favorable economic revenue in 2018 should be signifi cantly background is positive for Colas. The markets higher than in 2017. In conclusion, I would in which Colas companies operate are buoyant remind you that Colas has the assets, skills, for the most part. The year 2018 should and fi nancial resources it needs to progress. therefore be another year of growth for most We do intend to keep making headway of the Group. Revenue for the Roads business in transport, road, and rail infrastructure in Mainland France is expected to increase solutions, all serving sustainable mobility. Development based on four strategic pillars / Development strategy /

8 COLAS 2017

“Continually “Share our collective enrich our range operational expertise of offers. at a global level. This ambition leads us to continue to develop Around the world, in every Colas location, in complex major projects for public clients we have renowned experience and know-how and large private accounts, to expand in key areas such as quarries, bituminous products, our activities to new business segments, and construction. We must always ensure that this and to design and offer innovative services operational expertise is shared at a global level, focused on customer expectations for in order to improve our local units’ competitive sustainable mobility.” edge and the quality of their services.”

Thierry Méline, Managing Director, France, Éric Haentjens, General Secretary Railways, Waterproofing, Safety Signaling and Philippe Tournier, Human Resources Manager COLAS 2017 9

“Master the two key “Strengthen and resources of our core expand our network business – aggregates around the world. and bitumen. We mainly expand by external growth. Our goal is to establish and develop local leadership positions, Vertical integration is a historical cornerstone of the both by strengthening our current operations and Group’s strategy. Our aggregates production and continuing to expand into new countries. We also bitumen storage and distribution activities are key, aim to benefi t from geographical diversifi cation both to ensure better supply availability and quality, that helps distribute risks.” and to improve our competitiveness.” Louis R. Gabanna, Managing Director, North America Frédéric Gardes, Managing Director, International (excluding Americas), Networks, Major Projects and Thierry Genestar, Special Advisor to the Chairman Growth markets, leadership positions, vertical integration, innovative momentum… / Strengths and Assets /

10 COLAS 2017

Long-term growth markets Leadership positions in The ability to respond energy transition issues, in every country around the the construction and to complex off ers and but also to use digital tools that world, boosted by population maintenance of transport to carry out major projects ensure productivity gains. growth, urbanization, infrastructure, including the worldwide. strong infrastructure needs production of construction A solid fi nancial structure, in emerging countries, materials (aggregates, Collective intelligence with the capacity to generate recurrent maintenance bitumen-based products), backed by 55,000 employees cash fl ow that allows Colas needs in developed countries, backed by renowned expertise who share history and common to continue to expand by environmental issues, new and a strong brand. values. investing in targeted assets. forms of mobility and the digital revolution. A tight-knit local network, Innovative momentum, not comprising 800 construction only to develop products and units and 2,000 material related services that offer production units in more than solutions focused on customer 50 countries on fi ve continents. needs, responding in particular 11

Vertical integration in most Construction local units, as materials are materials Aggregates produced upstream from the 741 quarries construction segment, helping 106 million tons to secure supplies and Emulsions contributing to operating 125 emulsion plants performance. 1.7 million tons

Asphalt mix 568 asphalt plants 42 million tons

Bitumen 1 bitumen production Ready-mix concrete plant 168 concrete plants 840,000 tons 2.4 million m3

2017, a year of major contracts / Highlights /

14 COLAS 2017

Extension of tramways in Bordeaux, Caen, Lyon, Construction of three sections of Motorways Évry, France and in Rabat-Salé, Morocco. M 30 and M 25 in Hungary.

Major contracts secured

Upgrading and widening of Motorway M 7 in Ireland.

Line 3 of the Cairo metro in Egypt, light metros in Jakarta, Indonesia, and Hanoi, Vietnam.

Construction and maintenance Three track renewal and of the Southwest Ring Road maintenance contracts in France in Calgary, Alberta, Canada. and in the United Kingdom. Major acquisition Innovation

Signature of a memorandum of Launch of Flowell, a dynamic signaling understanding for the acquisition of the solution designed to improve the way we road construction and bitumen distribution share public space, making it modular specialist Miller McAsphalt in Canada. in real time. As needed, it is possible This acquisition will enable Colas Canada to increase traffic flow and allow for easy to expand its coverage by reinforcing cohabitation between different modes its foothold in Ontario and by boosting its of transport, thus improving safety bitumen storage and distribution capacities on the road. across Canada.

COLAS 2017 15

Construction and renovation of the Antananarivo and Nosy Be airports in Madagascar.

Completed projects Major projects in progress

Iqaluit Airport in Nunavut, Canada. Construction of sections of Motorway M 35 and Route 47 Line 6 of Santiago metro in Chile. in Hungary. La Possession Interchange on the new Coastal Road in Reunion Island. Back on track to growth In 2017, Colas was back on track to growth after three consecutive years of decline. In a more favorable economic context, the Group benefi ted from the recovery of the road market, particularly in France and in central Europe. Revenue for the year amounted to 11.7 billion euros, up 6% compared to last year (+7% at constant scope and exchange rates).

16 COLAS 2017

ROADS Revenue, which amounted to 9.7 billion euros in 2017, is up 8% compared to 2016 (+8% at constant scope and exchange rates).

In North America Revenue amounted to 2.5 billion euros in 2017, up by a slight 2% compared to 2016 (+1% at constant scope and exchange rates).

In the United States, revenue was practically stable at constant scope and exchange rates compared to 2016, with a good fourth quarter offsetting the delays recorded in previous quarters. The road market has not yet really benefi ted from the impact of the eight-year Federal Fast Act Infrastructure Plan, but has been boosted by a number of state-funded In Mainland France In Europe (excluding France) initiatives. Acquisitions included assets at Revenue for 2017 (4.3 billion euros) is up 8% Revenue totaled 1.6 billion euros in 2017, Graymont Materials and a quarry in Missouri. compared to 2016, which had remained stable up 17% compared to 2016 (+19% at constant In Canada, against a backdrop of strong after several years of decline. scope and exchange rates). economic recovery but weak growth and highly competitive markets, revenue is up Despite continued cuts to State allocations In Northern Europe, revenue was 7% higher compared to 2016, with a level of activity to local authorities, towns and cities continued than in 2016 (+7% at constant scope and that varies from one province to another. to launch new projects for the second year of the exchange rates). Business was stable in the The ten-year federal infrastructure plan last half of the electoral cycle, including trams United Kingdom in a highly competitive has not yet begun to produce results. (Bordeaux, Caen, Lyon, etc.) and bus rapid market; the acquisition of the maintenance Acquisitions were completed in Quebec transit lanes (Lens, Poitiers, Rouen, etc.). and airport services company Allied (La Compagnie Meloche assets) and in the Business also benefi ted from a highway plan Infrastructure Management Ltd was Yukon. A memorandum of understanding and Greater Paris projects (preparatory works fi nalized. Business is up in Belgium, was signed on August 30 to acquire 100% for bypasses, earthworks, deconstruction, and Denmark, Ireland, Iceland, and stable of the Miller McAsphalt Group, a specialist disposal of excavated materials for lines 14 North in Switzerland. in road construction and bitumen and 15 South). There was also a slight recovery In central Europe, revenue was up sharply distribution. The acquisition of Miller in private investment. Diversifi cation at a by 35% (+45% at constant scope and McAsphalt will allow Colas Canada subsidiary level (work for private individuals exchange rates), as expected, boosted by to expand its geographic footprint by with a dedicated brand called Colas & Vous, a recovery mainly related to the launch of strengthening its network in Ontario and pollution remediation, sale of construction major road and highway projects fi nanced signifi cantly increasing its bitumen storage materials) also helped boost revenue. The by the European Union. In Hungary, where and distribution capacity across Canada. increase concerned all six regional subsidiaries. a number of call for bids were launched In addition, acquisitions and equity stakes in this year and contracts for Motorway M 30 quarry companies (Malet, Carayon Languedoc) and the M 25 Expressway were secured, were fi nalized. construction on Motorway M 35 and the Route 47 Bypass continued. In Slovakia, conventional activity was complemented by private projects. In the Czech Republic, two contracts for the widening and reinforcing of Motorway D 1 were won. In Poland, business benefi ted from private investment. Markets were stable in Romania and Croatia, and recovering in Slovenia. In the United Kingdom, the level of business SPECIALIZED is high, notably with the upgrading of the ACTIVITIES Wessex rail infrastructure and the launch of the extension of the Birmingham tramway; Specialized Activities posted a major track maintenance contract for 2.0 billion euros in revenue for 2017, the national railway network was won. up 1% compared to 2016 In the Rest of the World, business is (+3% at constant scope and growing in North Africa with the continued exchange rates). construction of the Tangiers-Kenitra high-speed line, the extension of the Rabat-Salé tramway in Morocco and the Railways Algiers metro in Algeria; in South America, At 940 million euros, revenue was down business is focused on the construction of a slight 3%, almost stable at constant scope lines 3 and 6 of the Santiago de Chile metro; and exchange rates, with international units construction began on line 3 of the Hanoi accounting for 57% of business. metro in Vietnam. 17 In France, activity was stable overall, with an Waterproofi ng increase in the metro and tramway business Revenue is up a slight 3% at 562 million euros linked to the launch of several projects (Paris, as the building market in Mainland France Bordeaux, , etc.), offsetting a decline is recovering. due to the completion of high-speed rail projects; two major contracts for the renewal Road Safety, Signaling and maintenance of the national rail network Revenue totaled 304 million euros, practically were won. stable compared to 2016 (+1%), in markets that appear to be stabilizing, but remain highly competitive due to overcapacity in the sector.

Networks This activity recorded revenue of 231 million euros, a sharp increase of 22%, mainly due to the completion of two major natural gas pipeline projects in France.

In the Rest of the World activity remains focused on the production Revenue totaled 1.2 billion euros in 2017, up and sale of emulsions. In Madagascar, after 7% compared to 2016 (+7% at constant scope signing a 28-year concession contract, work and exchange rates), refl ecting contrasting on the Antananarivo and Nosy Be airports situations: started. In Mauritius, activity is up; in the Middle East: in the United Arab in the French Overseas Departments and Emirates, Oman and Qatar, where Regions, revenue was down 3%. The the subsidiaries are consolidated using the Caribbean-French Guiana zone remained equity method, business was satisfactory, at a low level on the whole, as Martinique despite a diffi cult political and economic and French Guiana were impacted by environment; the halt of funding for new projects and in Asia/Australia/New Caledonia, revenue maintenance work. In Reunion Island, is up 18% (at constant scope and exchange traditional business in public works, civil rates). In Asia, where business is focused engineering and building was comparable on the production, distribution and sale to that of 2016, and the La Possession of bituminous products, through a network Interchange on the new Coastal Road was consisting of a bitumen production plant in completed. In Mayotte, business was stable; Malaysia, 26 emulsion plants, 21 bitumen in Africa and the Indian Ocean, revenue depots and 10 dedicated tankers, business increased 10%. In Morocco, the subsidiary is stable in India and Thailand. In Australia, maintained its market share in a highly business, which includes road works and competitive environment. In West and the sale of bitumen and emulsions, was on Central Africa, business trends refl ect the rise. In New Caledonia, the subsidiary how much these countries depend on oil maintained a stable level of business. and raw material prices; projects were completed (Bettié bridge in Côte d’Ivoire, Tchetti-Savalou and Logozouhé-Glazoué roads in Benin, reconstruction of Route 4 in Togo); work continued on other projects (National Route 1 in Gabon) and some projects were delayed (mining contract in Guinea-Conakry). In southern Africa, Back on track to growth

18 COLAS 2017

HIGHLIGHTS OF PROJECTS IN 2017 During the year, nearly 80,000 projects were completed in more than 50 countries on fi ve continents. The following examples illustrate the diversity of ongoing and completed projects and the Colas network.

In Mainland France In Europe (excluding France) In South America Completion of the construction of the Upgrading and maintenance of central Construction of lines 3 and 6 of the Santiago Nîmes and Montpellier high-speed train line London streets under an eight-year contract, de Chile metro. bypass (PPP). refurbishment of the East Midlands Airport Construction of the northern section of the runway, rehabilitation and extension In Africa and the Indian Ocean L 2 Ring Road in Marseille (PPP). of the Birmingham Midland Metro Alliance Construction of the Tangier-Kenitra high Paving of the central median of a 70-km line, and upgrading of Wessex rail speed train line and extension of the section of Highway A 10. infrastructure in the United Kingdom. Rabat-Salé tramway line 2 in Morocco. Rehabilitation of sections of Highways A 20, Maintenance of a 250-kilometer road Extensions A and C of Algiers metro line 1 A 40, A 48, A 64, A 71, A 75. network under a fi ve-year contract and in Algeria. Extension of line 14 of the Paris metro, widening of a section of Motorway M 7 Earthworks and civil engineering construction of line 2 of the Rennes metro. in Ireland. on a mining site in Guinea-Conakry. Construction and extension of tramway lines Pavement rehabilitation on Motorway E 34 Construction of the Tchetti-Savalou and in the Paris region (T1, T3, T4), in Bordeaux, in Belgium. Logozohoué-Glazoué roads in Benin. and in Avignon. Repairing runways and taxiways at Kefl avik Pavement rehabilitation on Route 4 between Development of bus rapid transit lanes Airport (Iceland). Tabligbo and Aného in Togo. in Aix-en-Provence, Bayonne, Lens, Pau, Construction of Motorway M 35 and Rehabilitation and widening of the National Poitiers. a bypass on Route 47 in Hungary. Route 1 at the exit of Libreville in Gabon. Supply of 60 km of guardrails for Widening two sections of Motorway D 1 Construction of Hoima Airport in Uganda. Highway A 10. in the Czech Republic. Construction and repairs of runways Cladding on the Tribunal de Paris courthouse, at Antananarivo and Nosy Be airports as part and on the Aix-en-Provence Arena Stadium. In North America of a concession in Madagascar. Installing natural gas pipelines for the Widening sections on Interstate 64 in Midi-Gascogne and Val-de-Saône networks. Virginia and Seward Highway in Alaska In Asia, Australia, and New Caledonia (United States). Refurbishing a runway at the Bangkok In the French Overseas Departments Repaving Highway 285 in Arkansas and International Airport in Thailand. and Regions Interstate 40 in California (United States). Construction of line 3 of the Hanoi metro Building a causeway and an interchange Refurbishing engineering structures on in Vietnam. for the new Coastal Road and an engineering Interstate 78 in Pennsylvania (United States). Road maintenance in New South Wales, structure over the Rivière des Galets and Repairing runways, taxiways and access Australia. expanding the Saint-Pierre Hospital roads at Iqaluit International Airport Construction of the Nouville clinic in in Reunion Island. in Nunavut (PPP) (Canada). Noumea, New Caledonia. Earthworks, roads, and networks for Upgrading of a section of Highway 20 West a biomass plant in Martinique, for an in Quebec (Canada). eco-district in French Guiana. Refurbishing bridges in Ontario (Canada). Completion of multiyear road maintenance contracts in Edmonton, bus rapid transit lanes in Calgary, Alberta (Canada). Construction of a section of Highway 5 in the Northwest Territories (Canada).

Consolidated key figures / Financial data /

20 COLAS 2017

11,7 386 11.0 362 52% 52% 234

48% 48%

In billions In millions of euros of euros

2016 2017 2016 2017 Mainland France and French Overseas Departments and Regions. International, including French Overseas Territories.

Revenue Current operating income Consolidated revenue for 2017 amounted Current operating income in 2017 amounted to to 11.7 billion euros, up 6% compared to 362 million euros, compared with 386 million euros in 2016 (+7% at constant scope and exchange 2016, down 24 million euros. Roads generated stable rates), mainly due to the recovery of the current operating income compared with 2016, as good Roads segment, essentially in Mainland performance in the French road subsidiaries offset the France and central Europe. Business grew decline observed in North America, due in particular by 6% in France and 7% internationally (+8% to harsh weather in Canada and a less favorable at constant scope and exchange rates). market for bituminous products in the United States. The downturn in current operating income for Specialized Activities is attributable almost entirely to Railways. Current operating profit margin stood at 3.1% in 2017 compared to 3.5% in 2016.

Breakdown of revenue by business segment

82 % Roads: 69% Road construction 13% Sales of construction materials

18 % Specialized Activities: 8% Railways 5 % Waterproofing 3% Road Safety, Signaling 2 % Networks Net profi t attributable to the Group After nonrecurring operating expenses of 5 million euros related to the closure of the Dunkirk site (SRD), compared to 62 million euros in 2016 mainly related to the discontinuation of the refined products business, tax expense of 75 million euros, down 33 million, and a share of income from joint ventures and associates of 61 million 355 euros (2016: 82 million euros), net profit 328 attributable to the Group amounted to 328 million euros, compared to 355 million euros in 2016, which included 72 million euros in net capital gains on the sale of stakes in the highway concession companies Atlandes and Adelac.

COLAS 2017 21 In millions of euros

2016 2017

Shareholders’ equity, net cash The financial structure is solid, with shareholders’ equity at 2.8 billion euros and positive net cash at 433 million euros at the end of December 2017, compared to 517 million euros at the end of December 2016.

2,849 2,713

517 In millions 433 of euros

20162017 2016 2017 Shareholders’ equity Net cash

Net cash fl ow, net capital expenditure, free cash fl ow(1) In 2017, net cash flow amounted to 675 million euros, an improvement of 97 million euros compared to 2016 (578 million euros). Net capital expenditure totaled 355 million euros, compared to 384 million euros in 2016. As a result, free cash flow stood at 320 million euros 675 355 in 2017, a clear improvement over 2016 578 384 (194 million euros).

(1) Free cash flow: net cash flow minus net capital expenditure.

320

194

In millions of euros

2016 2017 Net cash flow Net capital expenditure Free cash flow Colas Share / Financial data /

22 COLAS 2017 Shareholder base as of December 31, 2017 96.6% 0.8% 2.6% Bouygues Colas Employee Public Savings Plan

Share price

225

200

175

150

125

100

75

In euros 50 January January January January January January 2013 2014 2015 2016 2017 2018

Quotation: Euronext Paris France, Compartment A, continuous market. ISIN code: FR0000121634. Identification codes: COLP.PA (Reuters); RE: FP (Bloomberg). Industry Classification (ICB): Heavy Construction. Other: eligible for deferred settlement service (SRD) and equity savings plan (PEA). The share price has been adjusted for the period prior to April 27, 2015.

Key fi gures for Colas share 2016 2017 Highest (in euros) 142.40 189.90 Lower (in euros) 121.80 140.50 Price on December 31 (in euros) 140.85 181.50 Market capitalization at December 31 (in billions of euros) 4.60 5.90 Average daily transactions (in number of shares) 1,262 1,654 Dividend per share paid out in a given year in respect of the previous year’s results If approved by the Annual General Shareholders’ Meeting on April 12, 2018, the dividend per share distributed in 2018 for fiscal 2017 will amount to 8.20 euros (representing a distributed amount of 268 million euros(1), i.e., 82% of net profit attributable to the Group), identical to the dividend paid out in 2017. 8.20 8.20 (2) (1) Based on 32,654,499 shares as of December 31, 2017. (2) Subject to approval by the Annual General Shareholders’ Meeting of April 12, 2018.

5,45

COLAS 2017 23 In euros per share

2017 2018

Yield per share Dividend paid out in a given year/year-end share price of previous year Based on the price as of December 31, 2017, the Colas share offers a yield of 4.52%(1), down 1.30 points from 2017.

(1) Subject to approval by the Annual General Shareholders’ Meeting of April 12, 2018.

5.82

4.52 (1)

In percentage

2017 2018

SHAREHOLDER INFORMATION

Calendar Contacts Annual General Shareholders’ Meeting: Shareholder and investor relations April 12, 2018 Tel.: + 33 1 47 61 75 61 2018 First quarter financial information: May 17, 2018 Share Services Payment of the dividend: May 3, 2018(1) As an issuing company, Colas provides Half-year results 2018: August 30, 2018 share services and financial services.

(1) Subject to approval by the Annual General Shareholders’ Information Meeting of April 12, 2018. Annual Report www.colas.com Promoting infrastructure solutions for sustainable mobility / 2 / COLAS 2017 2525 Providing solutions for basic needs

Let’s imagine and build tomorrow’s mobility. With growing urbanization, the energy transition, and the digital revolution, Colas relies on the driving force of its innovation and global collective expertise to design, build, and optimize infrastructure solutions for sustainable mobility. These solutions are rolled out over fi ve continents, integrating issues such as safety, traffi c, environment, cost control, asset management for local authorities and project optimization, backed by digital technologies whenever possible. 26 COLAS 2017

Installing of road safety Esthetically pleasing equipment in central France pavement in Doha, Qatar As part of the widening of The client wanted a “red carpet” Highway A 71 linking Orléans leading up the avenue from to Clermont-Ferrand, guardrails the Qatar National Theater to the were installed on a 7-km section Prince’s Palace. Colclair® asphalt to reinforce safety on this heavily- mix with Bituclair® BHNS in red trafficked stretch. was chosen. COLAS 2017 27

Flowell dynamic road marking trial in western France The Flowell dynamic road marking solution was installed at a school bus stop in Montréverd, Vendée in western France. Unveiled in 2017, the innovation is in full-scale trial phase. It is designed to reinforce user safety and make a better share of public space. 28 COLAS 2017 Wind turbine platforms Expansion of a platform at the in southeast France port of Antwerp in Belgium The Val d’Ay wind farm in Lalouvesc Upgrading work on the infrastructure will produce nearly 12 MW per of Europe’s second largest year, equivalent to the electrical commercial port is undertaken consumption of 11,500 households. to meet the needs of sea transport as global trade is expanding.

COLAS 2017 29 30 COLAS 2017

Mobility by Colas in the Greater Paris Area The integrated mobility offer proposed by Mobility by Colas, an activator of connected mobility services, was selected by TFI to improve accessibility to the Seine Musicale concert hall, located in Boulogne-Billancourt, which is impacted by construction for Greater Paris projects. COLAS 2017 31

Construction of the Construction of a hospital Tangiers-Kenitra high-speed infrastructure in Noumea, train line in Morocco New Caledonia Built as part of a design-build The hospital of the peninsula contract, the high-speed train line of Nouville will include three health linking the cities of Tangiers and care facilities that were previously Kenitra will come into service in located on separate sites. It will be 2018. The first high-speed line on the delivered in 2018. African continent, this 180-kilometer section is the first step of the Moroccan Atlantic high-speed rail project, which will extend to Agadir. Road infrastructure development in Calgary, Alberta, Canada Installing a natural gas A divergent diamond interchange pipeline of the Val-de-Saône was built at the intersection line between Étrez and of Macleod Trail and 162nd Avenue Palleau in central France to improve traffic flow. This work is part of a project launched by GRTgaz consisting of the construction of a 190-km natural gas pipeline.

32 COLAS 2017 COLAS 2017 33 34 COLAS 2017

Driveway and landscaping at a private home by Colas & Vous in eastern France Under the brand Colas & Vous, an offer specifically designed for people wishing to beautify their outdoor spaces has been created in France. A team dedicated exclusively to this type of project, with their own website, toll-free number, etc. is made available to the client. COLAS 2017 35 Quality redesign in Bordeaux, Developing a greenway France in central France As part of the transformation For the creation of a hiking trail of the Bassins à flot district, around the Lac des Bretonnières, a visually-appealing design for in Joué-lès-Tours, an esthetic, the pedestrian-only Pierre-Cétois environmentally-friendly, beige Square helps create a pleasant ocher surfacing was chosen by the living environment for residents. client to preserve the harmonious natural setting. 36 COLAS 2017 Development of a bus Cladding and roofing on rapid transit network a stadium in southern France in southwest France The architecture of the Pays d’Aix The bus rapid transit network in Arena Stadium in Aix-en-Provence Mandelieu-la-Napoule helps is one of a kind. The rings on the benefit users by improving façade took more than two years to traffic flow. study, design and build. The stadium is host to a number of sports events and concerts, thus contributing to the quality of life in the region.

COLAS 2017 37 38 COLAS 2017 Upgrading road infrastructure on the island of Mljet, Croatia The rehabilitation of the Polace Building an engineering Bypass makes traffic safer and structure on Reunion Island smoother near the city. Between Le Port and Saint-Paul, a new 430-meter-long bridge with seven traffic lanes, two of which are reserved for pedestrians and cyclists, is being built over the Rivière des Galets. The goal is threefold: to decongest existing infrastructure, to promote soft mobility, and to be able to withstand cyclones. COLAS 2017 39

Construction of lines 3 and 6 of the Santiago de Chile metro Built under a 20-year design, build and maintain contract, these new metro lines will complete an extensive network serving most of the capital’s suburbs. Line 6 was delivered in 2017 and line 3 is expected to be completed in 2018. Winter maintenance on highway and road networks in the Province of Alberta, Repaving Route RD 1001 Canada in the north of Paris This work is carried out under Route RD 1001 was repaved at a renewable five-year contract. Fresnoy-en-Thelle, in order to restore It includes snow removal operations safe and comfortable driving in a region subject to harsh conditions for users. winter weather.

40 COLAS 2017 COLAS 2017 41 42 COLAS 2017

Refurbishing Route D 1 Building infrastructure at the in the Czech Republic Jaguar Land Rover Plant in Nitra, Slovakia The renovation and widening of the country’s main road between Brno The project, which included and Prague will help make traffic earthworks, roads, parking lots, smoother and safer. and underground networks, benefited from the use of BIM, or Business Information Modeling, a collaborative digital modeling tool that everyone on a project can share. BIM makes it possible to optimize infrastructure design, preparation, construction, and maintenance. COLAS 2017 43

Rehabilitation and widening of Route 4 between Aného and Tabligbo in Togo Upgrading this 43-km road contributes to the economic development of the region. 44 COLAS 2017

Refurbishing a taxiway at the Anchorage Airport, Alaska, United States The infrastructure often has to bear extremely harsh weather and must be refurbished on a regular basis. COLAS 2017 45

Building the Costwise pavement Hódmez vásárhely rehabilitation in the state Bypass on Route 47 of Victoria, Australia in Hungary Surface dressings used in the This new 12.6-km section, which Macedon Regional Park are includes an underpass, two railway an effective road maintenance bridges and a bridge for bicycles technique, designed to protect and pedestrians, will help relieve damaged pavement at a lower cost. congestion in the city center and free up traffic in the area. Extending the Saint-Louis tram line in eastern France The extension of the tram line Wattway photovoltaic from Basel to Saint-Louis makes road surface trials in it easier for people in the region Reunion Island to get around. Wattway panels were applied on a private site in the city of Le Port for self-consumption, powering a building in electricity, and installing a charge station for electric vehicles.

46 COLAS 2017 COLAS 2017 47 Sustainable mobility issues

48 COLAS 2017

Colas aims fi rst and foremost to respond to safety issues for users and neighboring residents, while improving traffi c, preserving the environment as a whole, providing solutions that help control costs, managing network assets and optimizing projects. Lastly, the Group aims to reinvent its expertise to fi nd solutions for new uses.

Environment Saving resources, saving energy, Visually appealing surfacing reducing its carbon footprint Colas offers a wide range of products Colas promotes the use of recycled and know-how aimed at improving the construction materials, in-place cold esthetic integration of infrastructures: treatment of existing pavement with processes that enhance the natural color Novacol® and Valorcol®, lower production of aggregates, Colclair® colored surfacing, temperatures for asphalt mixes (warm, paving stones, sparkling asphalt mixes, etc. semi-warm, cold mixes) and the use of products with plant-based ingredients Wattway such as Vegecol® and Vegeflux®. Developed by Colas R&D teams in partnership with the French National Reducing noise Institute of Solar Energy (INES), and the Reducing traffic noise has been a priority at winner of a COP21 Climate Solutions Trophy Colas for many years. The latest-generation at the end of 2015, the photovoltaic road acoustic mixes Nanosoft® and Rugosoft® surface Wattway is currently being tested make it possible to reduce vehicle rolling on trial sections in France and around the noise very effectively. They are especially world. The target is to use full-scales trials designed for heavily trafficked roads. to test functionalities as well as energy and economic potentialities of the process in a variety of road, weather and regulatory conditions. Safety Traffi c fl ow Colas has designed special products Colas has expertise in the field of to enhance infrastructure safety: traffic control systems and dynamic for example, high-grip road surfaces, flow management. The Group’s latest such as Rugosoft®, which reduce vehicle innovation, Flowell, a dynamic signaling braking distances, or colored surfacing solution currently in a trial phase, is a major that differentiates lanes. Its subsidiaries step forward in this field, as it enables public also install equipment to secure road space to be adapted to specific needs transport infrastructure (road markings, in real time. Furthermore, backed by solid guardrails, etc.), airports (marking, etc.) experience in the construction of reserved- and railway infrastructure (signaling lane public transport infrastructure (rapid and safety systems). In this respect, Flowell, transit bus networks, trams, metros), Colas a dynamic signaling innovation unveiled helps to ensure smooth traffic flows. Thanks in 2017, is a promising solution. Lastly, to new technologies and access to open COLAS 2017 49 regular infrastructure maintenance prior data, opportunities are opening up in terms to any damage is also key to user safety. of multimodal offers. R&D teams are working on vehicle detection sensors for dynamic parking management.

Controlling costs Managing assets Optimizing projects Against backdrop of public spending cuts, Colas is a distributor of the TellMyCity Thanks to BIM (Building Information Modeling), Colas offers economical road processes application proposed by its partner Spallian: a collaborative digital modeling technology that provide equivalent quality to users provide information on the condition which is currently being rolled out across conventional techniques and are adapted of the road network in their towns and cities; the Colas network in France and around the to service requirements: for example, local authorities thus have a detailed world, projects are optimized during design ® ® Colgrill R or Optibase surfacings, mapped and real-time dashboard of and site preparation as well as during which reduce the thickness of pavement maintenance issues at hand. This “Smart the actual construction, maintenance and ® layers, the very thin asphalt Ecofast City” offer was tested in Bethune in 2017. even demolition phases. BIM is a useful or surface dressing techniques including tool throughout the entire service life Colbifibre®, which protects worn pavement of infrastructure. at a lower cost.

Responsible development / Colas policy /

52 COLAS 2017

The Group’s responsible development policy is guided by eight priority targets in addition to a multitude of local initiatives.

Three strategic targets that Renewing and enriching are crucial for the development human capital Societal acceptance and long-term success of production sites of Colas’ activities. Business ethics

Five major targets Safety at the workplace and that impact Colas’ businesses on the road to diff erent degrees. Corporate citizenship actions in developing countries Energy and greenhouse gas emissions Circular economy and recycling materials Controlling chemical risks (to benefit employees, clients, users)

Multiple local Initiatives in social, environmental, and societal issues undertaken initiatives locally by Colas companies The teams’ motivation and and profit centers worldwide collective appropriation of CSR throughout the Group are also reflected in the wide variety of local outreach initiatives.

The complete report on social, environmental, and societal information in compliance with French article 225 resulting from the Grenelle 2 law is available at www.colas.com/responsible-commitment. Figures from 2017 are Group scope (world), unless otherwise mentioned. 53 THREE KEY TARGETS These targets are crucial for the development and long-term success of Colas’ activities. The Group has a genuine scope of action on each of these targets.

Renewing and enriching human capital Diversity issues. An agreement on the quality of life at Colas’ Diversity policy comprises four areas work was signed in France on December 1, Attractiveness, diversity, retaining employees of progress: social inclusion, disability, 2017 by Colas and social partners. In particular, and training are the priority areas of action for gender diversity, and older employees. it provides for teleworking, occasional remote the Group’s human resources development. In France, in 2017, the Chairman and working, more fl exible time savings account, Attractiveness CEO of Colas and the presidents of benefi ts and services related to parenthood, Colas was rewarded for the quality of its 10 subsidiaries signed the Diversity Charter, a right to disconnection. demonstrating the Group’s commitment employer brand on the occasion of the Development via training fourth edition of Victoires des leaders to non-discrimination and equal opportunities • 60% of employees in France and 75% in the du capital humain. in the workplace. Outside of France, international units participated in a training • Attractive recruitment policy: nearly subsidiaries in the United States and in the course in 2016(2). 17,600 employees recruited in 2017 (23% United Kingdom are particularly active • 99% of Group companies(3) have a training in France and 77% outside of France(1)). in the fi ght against discrimination. plan. • Strong-willed internship policy for young • Colas Universities (fi ve levels of training for graduates: 1,351 trainees in 2017, 15% more Retaining employees managers): nearly 5,000 employees trained than in 2016. In addition to a proactive policy on employee in Colas Universities to date in France (some • Apprenticeships and professionalization benefi ts and compensation, Colas pays special of whom come from subsidiaries outside contracts (in France): up 37% compared attention to the quality of life and well-being at of France). to 2016. work and endeavors to make headway in these

The Chairman and CEO ambassadors. As part of a accompanied for one year Gender diversity of Colas has set a target of loyalty program, training by a mentor from top 30% of women managers dedicated solely to women management. Finally, in 2020. In 2017, many was set up and a Women’s in order to change mind actions were undertaken Leadership course was frames, Colas launched in France to attract more designed. In order to foster WE, a network for women to apply for jobs women’s progress and gender equality. To date, at Colas: school relations, enhance their visibility, nearly 800 employees participation in Gender a major mentoring program have joined, some 60% Diversity & Professions has been rolled out to allow of whom are men. forums, pairing and training Group employees to be

(1) This fi gure includes seasonal workers in the international units (United States, Canada, Asia). (2) 2017 fi gures not available at publication. (3) Scope limited internationally to companies with more than 300 employees. Responsible development

54 COLAS 2017

Societal acceptance Business ethics Process of production sites • A head of compliance for each area in which Complying with business ethics is an Colas operates worldwide is appointed. Colas’ action plans to ensure societal intangible principle of the Colas Group • A whistleblowing system is in place. acceptance of its production sites focus on and is part of the internal control system • Instructions are provided on thresholds and two issues: the professionalism of stationary backed by four compliance programs. reference values for gifts and invitations from production sites and ongoing dialogue with These programs (fair competition, confl icts third parties, as well as a directive governing local stakeholders (residents, elected offi cials, of interest, anticorruption, fi nancial sponsorship and patronage actions (applicable administrations). information and stock market transactions) to all entities of the Colas Group). complete the code of ethics of the Bouygues Professionalism of production sites group (of which Colas is a subsidiary). • 85% of the material production revenue is covered by environmental certifi cation Training ISO 14001 or by self-assessment by Colas • “Ethics and business responsibility” integrating checklists. compliance programs: 3,000 employees • 51% of the aggregate production revenue in worldwide trained in 2017. quarries and gravel pits have actions favoring • “Ethical, responsible leadership”: the objective biodiversity (target: develop an action is to refl ect on ethics and collective/individual in favor of a protected or threatened species responsibility of the Group’s subsidiaries’ on each site). managers. • Specifi c training in subsidiaries outside Dialogue with local residents, of France. elected offi cials, administrations 47% of materials production revenue is performed on sites with a formalized dialogue in place with local residents, elected offi cials and administrations. COLAS 2017 55

FIVE MAJOR Corporate citizenship Education, training, promoting actions in developing local staff, partnerships, supplying equipment, TARGETS reforestation, biodiversity awareness countries programs, water supply, etc. For example, that impact Colas’ business to different in Madagascar, since 2008, Colas has been degrees. Colas’ scope for action may Colas carries out corporate citizenship actions in developing countries where it has a running an education and awareness program be more limited regarding these targets. long-standing presence, such as Madagascar for the protection of biodiversity by supporting and West and Central Africa. Its fi elds of a private lemur reserve and a botanical Safety at work and action are: park. For the past nine years, more than on the road 29,000 children and 1,000 teachers have Health care discovered the importance of their country’s The safety policy is based on four cornerstones: Colas is committed to fostering public health natural heritage. complying with the rules; training and staying programs (in particular AIDS, intestinal informed; designing safe worksites; checking, infections, malaria) that benefi t employees, analyzing, and planning. In 2017, new their families and local populations. requirements were set: mandatory use of seatbelts in construction machines, a Safety Culture Induction Day for all new employees in Mainland France (about 700 employees Developed after three years of trials trained in 2017) and an action plan on dust risks. Exopush in partnership with the startup • Safety at work: number of lost-time accidents: RB3D, the exoskeleton Exopush down 4.9% in 2017; accident frequency rate is a Cobot-type tool designed to index: 6.4. physically assist workers in the • Road safety: frequency rate of accidents manual task of applying asphalt involving Group vehicles: down 44% between mix. It reduces workers’ effort by 2004 and 2017. ten, thus improving their working • Training of employees in fi rst aid: 38% of the conditions. global workforce (close to 21,000 employees). Responsible development

56 COLAS 2017

Controlling chemical risks Managing chemical risks involves working to reduce bitumen fumes, limiting the use of chlorinated solvents or using them in a closed atmosphere, as well as developing eco-designed products. Bitumen fumes Global health authorities have confi rmed that bitumen fumes cannot be classifi ed as carcinogens. These fumes are irritating to the skin and the eyes: Colas is a driving force to reduce its employees exposure by reducing the temperature of its mixes (warm mix accounts for 23% of the total production of Energy and greenhouse Circular economy and asphalt mixes in the Group) and bituminous gas emissions recycling of materials fume extraction devices on its construction equipment (51% of pavers are equipped). Three-quarters of Colas’ direct energy Due to the nature of its businesses, Colas consumption is divided almost equally responds to circular economy issues mainly Solvents between three uses: asphalt burners, through the recycling of materials which leads While continuing to provide collective construction machines and vehicles. to savings in materials. Given the amount of and individual protection for employees Colas’ energy effi ciency requires measuring very heavy materials involved in its businesses, and strictly supervising the products used, fossil fuel consumption, as electricity is only recycling can only be optimized at a very Colas has undertaken systematic substitution a small part of the total energy footprint: local level to minimize transport. This local for chlorinated and petroleum solvents. • software for monitoring the production dimension naturally leads to industrial Alternative solutions may be subject to and energy consumption of asphalt plants: ecology initiatives and Colas offers numerous technical conservatism, be more expensive, deployed on about 32% of these plants; examples of how to integrate quarries, unavailable in some countries or require • onboard systems for monitoring the energy recycling centers, asphalt plants, etc. adaptation of working methods. 82% of the consumption of construction machines • Recycling of rubble and cut: 9 million chlorinated solvents are used in a closed circuit and vehicles: 21% of the Group’s vehicles tons = 12% of the total aggregate production and more than three-quarters of the Group’s worldwide and 26% of construction of the Group = production of 17 quarries grease cleaning units use vegetable, biological machines; avoided. or laundry solvents. • 153,000 tons of CO2 equivalent avoided in • Reclaimed asphalt pavement: 5.8 million Eco-design 2017 through energy savings and recycling; tons = 15% of the Group’s total asphalt mix R&D projects systematically take into • using rail and waterways to transport production = annual bitumen production account reduction/substitution goals to reduce materials means that the traffi c of 295,000 at a medium-sized refi nery avoided. chemical risks, for people and the environment. 30-ton trucks was avoided. 57

Circular economy and the Greater Paris projects

Backed by its long-standing strategy on urban Another illustration, an exemplary operation projects, Colas Île-de-France Normandie is was carried out in Bagneux (see photo below) positioned as a leading player in the circular by its subsidiaries SNPR and Brunel economy, able to meet the challenges of the Demolition, as part of a project involving the Greater Paris projects. conversion of a former industrial site into a Issues related to excavation and construction housing/commercial real estate project. sites of all types are an integral part of its The subsidiaries cleaned, decommissioned and business, with a network of about forty deconstructed almost all the buildings: 80% of business units spread over the Île-de-France the materials were thus recycled, including all region: recycling platforms/professional waste the concrete from the buildings (25,000 tons), disposal facilities, inert waste storage facilities, and reused as backfill after crushing. asbestos waste cells and asphalt plants that Lastly, Colas Île-de-France Normandie has recycle asphalt pavement. developed an innovative product made from It also works on the specific development pretreated inert waste material using the of transit and sorting platforms for excavated Ecosol® process. This product can replace materials from tunnel boring in the Greater concrete in road, rail, and industrial structures Paris projects. A platform is already operational as well as in backfill operations. It is possible in Saint-Witz and other projects are under to recover excavated material on projects way to expand permits for existing platforms like the Greater Paris program, and thus save to include this type of activity. natural resources. Governance

58 COLAS 2017

/ Board of Directors / On April 12, 2018(1)

Directors

Hervé Le Bouc Chairman and Chief Executive Officer

François Bertière Director

Olivier Bouygues Director Auditors Martine Gavelle(2) Director KPMG Audit IS SAS Colette Lewiner(2) Statutory Auditor Director Mazars Philippe Marien Statutory Auditor Permanent representative of Bouygues KPMG Audit ID SAS Substitute Catherine Ronge(2) Director Thierry Colin Substitute (1) Subject to the approval by the Annual General Shareholders’ Meeting of April 12, 2018. (2) Independent Director.

Non-voting Director

Jean-François Guillemin COLAS 2017 59

4

6 52 3 1 7

/ Executive Management Committee /

1. Hervé Le Bouc 5. Philippe Tournier Chairman and Human Resources Manager Chief Executive Officer 6. Éric Haentjens 2. Louis R. Gabanna General Secretary Managing Director, North America 7. Thierr y Méline Managing Director, France, 3. Thierry Genestar Rail, Waterproofing, Road Special Advisor to the President Safety, Signaling.

4. Frédéric Gardes Managing Director, International (excluding the Americas), Networks, Major Projects The Colas Group

60 COLAS 2017

Hervé Le Bouc Chairman and Chief Executive Officer

Éric Haentjens General Secretary

Philippe Tournier Human Resource Manager

Bernard Sala Deputy Managing Director Prospective, Research and Development

Étienne Gaudin Development and Mobility

Philippe Raffin Techniques, Research and Development

Sophie Baudoux Information Systems, Telecom and New Technologies

Jean-Yves Bignon Risks and Insurance

Alain Clotte Legal Affairs

Daniel Ducroix Deputy Managing Director, Equipment

Olivier Grévoz Accounting and Consolidation

Samuel Guillon Finance

Jean-Paul Jorro Forecasting and business plans

Delphine Lombard Corporate Communications

Henri Molleron Environment, Responsible Development

Daniel Righetti Procurement

Valérie Tualy Audit and Internal Control COLAS 2017 61 FRANCE NORTH AMERICA

Thierry Méline Louis R. Gabanna Managing Director, France Managing Director, North America Railways (Colas Rail) Waterproofing (Smac) Safety, Signaling (Aximum) / United States / / Canada /

Michel Boltz Jean Vidal Frédéric Roussel Deputy Managing Director Deputy Managing Director Deputy Managing Director Administration and Finance President, Colas Inc. President, Colas Canada Inc.

Jean-Luc Begasse de Dhaem Jean-Yves Llenas / Mainland France / Deputy Managing Director Deputy Managing Director Philippe Durand Vice President and CFO, Vice President and CFO, President, Colas Sud-Ouest Colas Inc. Colas Canada Inc. Philippe Guilmant Robert Doucet Terry Gale President, Colas Rhône-Alpes Auvergne Vice President, Colas Inc. Vice President, Colas Canada Inc. President, Barrett Industries President, Standard General Inc. – Christophe Guy Corporation Calgary President, Colas Nord-Est John Harrington François Vachon Joël Hamon Vice President, Colas Inc. Vice President, Colas Canada Inc. President, Colas Centre-Ouest President, Sully-Miller Contracting President, Sintra Inc. President, Roadworks Ontario Ltd Didier Manseau Robert Ponton President, Colas Île-de-France Normandie Vice President, Colas Inc. Ken Day Pascal Trouf President, Reeves Construction President, Terus Construction Ltd Company President, Colas Midi-Méditerranée Doug Ellett Jon Fuglestad President, E Construction Ltd President, Colaska Inc. / Waterproofi ng / Curtis Prosko Zach Green President, Canadian Road Builders Inc. Franck Davoine President, Delta Companies Inc. President, Smac Rick Taskey Brett Baker President, Standard General Inc. – President, Simon Contractors Edmonton / Safety, Signaling / George B. League William Turner Didier Manseau President, Branscome Inc. President, Wapiti Gravel Suppliers Président, Aximum

/ Railways / Francis Grass Deputy Managing Director Chairman and CEO, Colas Rail The Colas Group

62 COLAS 2017

INTERNATIONAL (excluding the Americas)

Frédéric Gardes Managing Director, International Networks (Spac) Major Projects (Colas Projects) / Networks / / Major Projects / Christophe Mansuy Fabrice Monnaert Laurent Le Boulc’h President, Spac President, Colas Projects Deputy Managing Director Administration and Finance

/ Asia, Oceania / / Europe / / Africa /

Jacques Pastor Thierry Le Roch’ Benoit Chauvin Deputy Managing Director Deputy Managing Director, Europe Deputy Managing Director, Africa Asia, Oceania Hungary, Croatia, Slovenia, Romania West Africa

Thailand, China, Malaysia, Cambodia, István Sokorai Benin, Côte d’Ivoire, Guinea-Conakry, Togo Vietnam, Indonesia, Singapore Regional Manager Stéphane Knebel Chaiwat Srivalwat Hungary Manager Managing Director, Tasco István Sokorai India General Manager, Colas Hungária Central Africa Croatia, Slovenia Radha Krishnan Gabon Siniša Koscak Managing Director, Hincol Jean-Christophe Deux Manager, Colas Croatia Manager South Korea J. I. Lee Czech Republic, Slovakia, Poland Managing Director, ISCO Southern Africa, East Africa Renaud Roussel Regional Manager South Africa, Kenya, Namibia, Oceania Czech Republic Uganda, Zambia Cédric Monnet Thierry Madelon Thomas Krones Manager, Czech Republic Manager Regional Manager Slovakia Dust-A-Side Australia Philippe Corbel Johan Geyser Thierry Madelon Manager, Slovakia Manager General Manager, Colas Australia Group Poland Sébastien Picaut North Africa New Caledonia Manager, Poland Gilles Guillier Patrick Rivaud Belgium Regional Manager Pierre Majoral General Manager, Colas Belgium

Switzerland Andreas Rogenmoser General Manager, Colas Suisse

Denmark, Iceland Hans Oluf Krog General Manager, Colas Danmark

Austria Walter Draxler COLAS 2017 63

/ Indian Ocean, French / British Isles, Overseas Departments Middle East / and Regions /

Indian Ocean François Lhote Raphaël Llobregat Regional Manager Regional Manager

La Réunion Travaux United Kingdom, Isle of Man Jean-Marie Maillet Lee Rushbrooke Manager, GTOI Chief Executive, Colas Ltd La Réunion Industries Fabrice D’Ascoli Ireland Manager, SCPR Gearoid Lohan General Manager, Colas Teoranta Mayotte Vincent Delaitre Abou Dhabi, Dubai, Oman, Qatar Paul-Henri Aumont Mauritius Manager Bertrand Hanauer Manager, Transinvest Construction Gamma Materials

Madagascar, Comoros Richard Ferrazi Manager

Caribbean – French Guiana Boris Duverger Regional Manager

Martinique Boris Duverger Manager

Guadeloupe Pascal Clemence Manager

French Guiana Jean-Pierre Dupuy Manager

7, place René-Clair Blog 92653 Boulogne-Billancourt Cedex – France

Tel.: +33 1 47 61 75 00 – Fax: +33 1 47 61 76 00 Colas Group www.colas.com

Colas, a French Société Anonyme with share capital of 48,981,748.50 euros RCS Nanterre 552 025 314