SBM Offshore Nominates New Chief Financial Officer

Douglas Wood to be proposed for appointment at EGM

SBM Offshore is pleased to announce that the Supervisory Board has nominated Mr. D.H.M. Wood as Management Board member and Chief Financial Officer (CFO).

On February 10, 2016 the Company announced the intention of the current CFO, Mr. P.M. van Rossum, to retire after the Annual General Meeting (AGM) in 2017.  The Supervisory Board assigned the Appointment & Remuneration Committee to lead the selection process for a successor and make a recommendation to the Supervisory Board.  On August 10, 2016 the Supervisory Board nominated Mr. Wood at the recommendation of the Appointment & Remuneration Committee.

The Company will hold an Extraordinary General Meeting (EGM) on November 30, 2016 where it will be proposed that Mr. Wood be appointed as a member of the Management Board for a period of four years until the 2021 AGM.  This means that during the EGM of November 30, 2016 Mr. van Rossum will step down as Management Board member and CFO.

Mr. Wood (British, 45 years) has worked at Royal Dutch Shell plc since 1993 in various financial and management positions, including as Vice President Finance & Planning Exploration (at Shell Upstream International) and most recently as CFO of Showa Shell Sekiyu K.K. in Japan, a company listed on the Tokyo Stock Exchange.

Mr. Wood obtained his degree in Classics in 1993 at Oxford University (Wadham College) and became a Fellow of the Chartered Institute of Management Accountants in 2006.

Mr. Wood has thorough industry knowledge, extensive international experience in finance matters including project financing, project control, M&A and management board experience as CFO of a publicly listed company.  Mr. Wood will join the Company per October 1, 2016. Additional details on Mr. Wood’s background as well as his contract will be provided with the invitation to the Company’s EGM of November 30, 2016.

Bruno Chabas, CEO of SBM Offshore commented:

“We are pleased to welcome Douglas to our team. His wealth of experience in finance and the energy industry will be a valuable addition to SBM Offshore. We very much look forward to having him join the Management Board.”

Corporate Profile

SBM Offshore N.V. is a listed holding company that is headquartered in Amsterdam.  It holds direct and indirect interests in other companies that collectively with SBM Offshore N.V. form the SBM Offshore group (“the Company”).

SBM Offshore provides floating production solutions to the offshore energy industry, over the full product life-cycle.  The Company is market leading in leased floating production systems with multiple units currently in operation and has unrivalled operational experience in this field.  The Company’s main activities are the design, supply, installation, operation and the life extension of Floating Production, Storage and Offloading (FPSO) vessels.  These are either owned and operated by SBM Offshore and leased to its clients or supplied on a turnkey sale basis.

As of December 31, 2015, Group companies employed approximately 7,000 people worldwide.  Full time company employees (4,900) are spread over five regional centers, eleven operational shore bases and the offshore fleet of vessels.  A further 2,100 are working for the joint ventures with several construction yards.  Please visit our website at www.sbmoffshore.com.

The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate entities.  In this communication “SBM Offshore” is sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies.

The Management Board
Amsterdam, The Netherlands, August 10, 2016

For further information, please contact:

Investor Relations

Nicolas D. Robert

Head of Investor Relations

Media Relations

Vincent Kempkes

Head of Communications

Disclaimer

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.  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.  Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company’s business to differ materially and adversely from the forward-looking statements.  Certain such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would be”, “expects” or “anticipates” or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions.  Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected.  SBM Offshore NV 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 subsequent events or circumstances.  Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.