Management Board Update

SBM Offshore announces that Philippe Barril has decided to step down on August 31, 2022 from his role as Chief Transition Officer (CTO) further to his appointment as CEO of Heerema Marine Contractors on September 1, 2022.

Philippe was appointed member of the Management Board and Chief Operating Officer in 2015, becoming CTO in April 2022 with responsibility for Human Resources, Legal & Compliance, Health, Safety, Security and Environment and some other corporate functions.

Following Philippe’s departure, it has been decided to simplify the structure of the Management Board. The CTO portfolio will therefore be allocated among the remaining three Management Board members with the aim of ensuring continued focus on SBM Offshore’s advancement as an energy transition company.

Bruno Chabas, CEO, said: “I would like to thank Philippe for his partnership and significant contribution to the Company over the past seven years. He has played a key role in the delivery of our strategy and our performance as a full lifecycle energy transition company, overseeing the realization of the Fast4Ward^® program and the substantial increase in our order book that this has enabled. Further, I would like to acknowledge the role Philippe has played in enhancing the focus on safety and health management and the continuation of our outstanding operating performance of our fleet. He is a great colleague and team player. We wish him every success in his new role.”

Philippe Barril, CTO, said: “The last seven years have been an amazing experience and I would like to thank all my colleagues at SBM Offshore for their commitment, resilience and delivery of our group vision. A particular note for my Management Board colleagues whether past or present for their remarkable team spirit. I look forward to joining Heerema Marine Contractors, a leader of the offshore industry and to contribute with its teams to its unique positioning within the energy transition space.”

Corporate Profile

SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for renewable energy sources.

More than 5,000 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.

For further information, please visit our website at www.sbmoffshore.com.

The Management Board

Amsterdam, the Netherlands, June 3, 2022

For further information, please contact:

Investor Relations

Bert-Jaap Dijkstra

Group Treasurer and IR

Media Relations

Vincent Kempkes

Group Communications Director

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This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Disclaimer

Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Risk Management’ section of the 2021 Annual Report.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.

Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

“SBM Offshore^®“, the SBM logomark, “Fast4Ward^®”, “emissionZERO^®” and “Float4Wind^TM” are proprietary marks owned by SBM Offshore.