Shareholder Remuneration

Shareholder Return Policy

The Company’s shareholder return policy is to maintain a stable annual cash return to shareholders which grows over time, with flexibility for the Company to make such cash return in the form of cash dividend and the repurchase of shares. Determination of the annual cash return is based on the Company’s assessment of its underlying cash flow position. The Company prioritizes a stable cash distribution to shareholders and funding of growth projects, with the option to apply surplus capital towards incremental cash returns to shareholders.

Dividend Distribution

As announced in its press release on February 20, 2025, SBM Offshore proposes to the General Meeting an all-cash dividend of US$155 million (equivalent to c. EUR150 million based on the EUR/US$ exchange rate on February 11, 2025). The proposed all cash dividend will be payable in Euro whereby the minimum Euro dividend shall amount to EUR150 million to ensure compliance with Dutch tax rules applicable to share repurchase programs. This equals a minimum amount of c.EUR0.85¹ per share. The final amount of dividend per share in Euros will be declared at the 2025 AGM. The proposed ex-dividend date is April 11, 2025. The dividend will become payable on May 6, 2025.

Dividend in cash is in principle subject to Dutch dividend withholding tax, which will be deducted from the dividend in cash paid to the shareholders. Some shareholders may be eligible to claim a tax credit for or a refund of the tax withheld, if certain conditions are met. Shareholders are advised to consult their tax advisor.

Dividend Reinvestment Plan

ABM AMRO is responsible for executing the dividend payment on behalf of SBM Offshore and offers the Company’s shareholders the option to participate in a Dividend Reinvestment Plan (DRIP). By participating in this program, shareholders can reinvest their net dividend into shares of the Company. Further information regarding the DRIP will be made available by ABN AMRO to all financial intermediaries.

Dividend Timetable

Footnotes

¹ Based on the number of shares outstanding at December 31, 2024. Dividend amount per share depends on number of shares entitled to dividend. The final dividend per share will be dependent on the progress of the share repurchase program.