Hamon & Cie : Trading Update Q1 2017

Hamon booked new orders amounting to EUR 94 million during the first quarter of 2017 vs. EUR 473 million for the whole year 2016.

The sale of the US affiliate Thermal Transfer Corporation has been completed in order to focus on its core activities and enhance the Group's financial resources (liquidity & equity) 1.

New orders booked in Q1 2017 amount to EUR 42,5 million mainly driven by some dry contracts signed in Middle East and Asia and by several new contracts in wet, both for new units and for revamping and maintenance works in Europe, US and Asia.

Despite this relatively low figure, the Cooling System BU is confident regarding its possibility to reach a satisfactory level in 2017 thanks to new product developments, to the penetration of new markets in Middle East & Latin America and to the reinforcement of aftersales activities.

Despite a relative recovery of crude oil barrel price in 2016 compared to the end of 2015, investment projects are nevertheless slow to start. Orders from Q1 2017 however remain at a reasonable level,

1 Details of the transaction as their impacts on the consolidated financial statements will be part of the press release regarding financial results as at 30 June 2017.

notably thanks to our diversification in the energy production market which represents more than a third of bookings.

PHE management is however fully confident in its ability to achieve in 2017 a total amount of bookings above 2016. The order book and on-going projects allow a continual workload for our factories.

The Business Unit has successfully close major contracts in India and in Brazil. The award in India is a major breakthrough in our strategy of participating in the Indian domestic market. The BU has overcome the qualification process and is now an active player on the Utility market on the Indian sub-continent. The BU is negotiating some major contracts.

The NAFTA region had solid bookings through Q1 2017 of approximately EUR 13 million. Each market segment generated bookings with larger awards for the chimney product line and aftermarket contracts along with a mix of smaller awards across a variety of product lines contributing to the total. The margins on NAFTA projects increased compared to Q1 2016 despite difficult market conditions.

• New order bookings: new projects for which a contract or a letter of award has been signed between Hamon and the customer, during a given period.
• Backlog: at a given date, the residual value of all new orders booked by Hamon, i.e. the difference between the value of these contracts and the revenue recognized so far on these contracts.

In view of the general economic environment, Hamon does not release any guidance on its future results.

This presentation contains forward-looking information that involves risks and uncertainties, including statements about Hamon's plans, objectives, expectations and intentions. Readers are cautioned that forward-looking statements include known and unknown risks and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Hamon. Should one or more of these risks, uncertainties or contingencies materialize, or should any underlying assumptions prove incorrect, actual results could vary materially from those anticipated, expected, estimated or projected. As a result, neither Hamon nor any other person assumes any responsibility for the accuracy of these forward-looking statements.

For all additional information, please contact:

Hamon Investors Relations investorsrelations@hamon.com

Bernard Goblet corporate@hamon.com+32.10.39.04.39 Christian Leclercq, CFOchristian.leclercq@hamon.com +32.10.39.04.22

Publication of the first half-year 2017 results 5 September 2017

The Hamon Group is a world player in engineering & contracting (design, installation and project management). Its activities include the design, the manufacturing of critical components, the installation and the after-sale services of cooling systems, process heat exchangers, air quality systems (AQS), Heat Recovery Steam Generators (HRSG) and chimneys, used in power generation, oil & gas and other heavy industries like metallurgy, glass, chemicals.