Company statement further to the article published by Dutch magazine Vrij Nederland on February 4th.

The article contains no new information. SBM contests that there was any attempt on the part of the new management of the company to “cover-up” the facts leading to the investigation, which is borne out by the facts, some of which are set out below or elsewhere in this section of our website.

The company made public on 10 April 2012 that it would pursue an internal investigation and report the matter to the authorities. SBM Offshore gave access to its records and employees to the forensic investigators and the authorities before Mr Taylor contacted the press. The investigation was evidence-based meaning that as facts and allegations surfaced they were investigated.

The Dutch Public Prosecutor (OM) conducted its own investigation and on the basis thereof the OM and SBM Offshore concluded the settlement that was announced on 12 November 2014. Through its statement on 4 February 2015, the OM, responding to the article, stated that the article contains no new information and reiterated that the OM drew its conclusions from a thorough facts based investigation.

The investigation of the OM established, through means inaccessible to SBM Offshore, that payments were made from the Company’s Brazilian agent to Brazilian government officials. As a result, SBM Offshore is a party in a number of investigations in Brazil, notably by the Federal Prosecutor, the Federal Accounts Tribunal and the Comptroller General’s Office, who recently confirmed in writing that they have opened an investigation. Group companies continue to cooperate with all requests for information and the Company is in active dialogue with the Comptroller General’s Office in order to close the matter in Brazil.

On 19 September 2014, SBM filed criminal charges against Mr. Taylor with the “Juge d’Instruction près le Tribunal de Première Instance” in Monaco for, amongst other things, attempted extortion. Last week, a representative of SBM gave a statement concerning the charges to the investigating judge, who indicated he would like to hear Mr. Taylor.

Management of SBM Offshore regrets that issues from the past continue to cast a shadow over the company in its current condition, which is a very different one in terms of robustness of compliance and integrity.