Maintaining the operational procedure system and the control system to boost operational efficiency

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According to the definition of the AMF’s reference framework, internal control is a Bolloré Group system which aims to ensure compliance with legislation and regulations, the application of instructions given and strategies set by General Management, the proper functioning of the company’s internal processes, particularly those helping to safeguard its assets, the reliability of financial information and, more generally, helping it to manage and carry out its business effectively and use its resources efficiently. Thus, the Bolloré Transport & Logistics division has a dedicated team which reports to the Bolloré Transport & Logistics Financial Department. The internal control mechanism covers the following areas: • an organization with clearly defined responsibilities and adequate resources and skills, using appropriate information systems, operating procedures or methods, tools or practices; • the internal distribution of relevant and reliable information, knowledge of which enables each person to carry out their duties. Thus, internal control is in charge of collating, regularly updating and distributing the financial and operational procedures. Any procedure issued by Bolloré Transport & Logistics internal control is also applicable to the Bolloré Logistics business unit; • a risk management system intended to list, analyze and tackle the main identifiable risks with regard to the company’s objectives and to ensure that procedures are in place to manage these risks. Internal control is in charge of drafting, regularly updating and distributing the internal control standard to the subsidiaries’ financial departments. The aim is to ensure that the latter are informed, and control and manage the financial risks inherent to their activities; • control activities proportionate to the issues involved in each process and designed to ensure that all necessary measures are taken to manage risks that may affect the achievement of objectives. Internal control has various duties within the Bolloré Logistics subsidiaries: it controls the proper deployment of action plans following the

Internal Audit assessments, supports the subsidiaries’

Chief Financial Officers when taking up the position or with any requests for assistance, and carries out ad hoc fraud detection and financial process assessment tasks to ensure an internal standard of control in subsidiaries on an ongoing basis; • Permanent management and monitoring of the internal control mechanism and regular examination to ensure that it is working correctly. In terms of fraud prevention, the Bolloré Transport & Logistics internal control department: • centralizes all information on fraud attempts and proven cases and reports it to the Group Financial Department; • educates the subsidiaries’ Chief Financial Officers on these risks during annual financial seminars.

The operational methods used in these cases of fraud or fraud attempts are presented and the mandatory controls required to prevent fraud of this type are recalled; • works closely with the SICF (Accounting and Financial

Information Systems) Department to secure financial information and ensure compliance with internal control principles (segregation of duties and system access, securing of treasury operations). In addition to the proper distribution of accounting, financial and control procedures established by the Group on the central processes, Bolloré Logistics has its own accounting, financial, administrative and control procedures collected on an intranet site and regularly sent out to the entities by email in order to distribute and manage the standard framework created by the Group. The Internal Audit Department regularly assesses the entities’ control mechanisms, ensuring observance of Group procedures and specific Bolloré Logistics procedures, and advises them on the most relevant improvements. It works on an annual plan developed alongside the divisions and General Management, based on an assessment of the risks specific to each subsidiary and a cyclical audit for the whole Group. This program includes routine reviews of the financial and operational risks, follow-up assignments and the implementation of the recommendations made, as well as more targeted interventions depending on the needs expressed by the divisions or General Management. As a first priority, it aims to cover the most sensitive risks and review the other major risks in the medium term for all Group entities, namely Bolloré Logistics. The auditors receive internal training on the divisional business lines in order to better grasp the operational particularities of each one. It is the Audit Department’s responsibility to assess the workings of the internal control mechanism and make any recommendations for its improvement within the scope of its responsibility. Audit reports are sent to the companies audited, the divisions to which they report and the Group’s Finance Department and General Management.