SBM Offshore Supervisory Board Statement of Support

Following the recent charges made by the Brazilian Public Prosecutor’s Office (Ministério Público Federal – “MPF”) against SBM Offshore’s CEO, Mr. Bruno Chabas, and against a member of the Company’s Supervisory Board, Mr. Sietze Hepkema, the Supervisory Board has, together with its advisers, reviewed and discussed the allegations which have been published in relation to Messrs. Chabas and Hepkema.

The Supervisory Board has concluded that there are no impediments to Mr. Chabas continuing in his role as CEO of SBM Offshore and to his leadership of the Company through these challenging times.  Likewise, the Supervisory Board sees no impediments to Mr. Hepkema continuing to serve as member of the SBM Offshore Supervisory Board.  As always, due regard is given to potential conflicts of interest.

The Chairman of the Supervisory Board, Mr. Frans Cremers commented: “It is unfortunate that the very people who have been and still are doing the right things in this complex compliance case in Brazil, are now being questioned.  We have no doubts regarding the integrity of both Bruno Chabas and Sietze Hepkema, who continue to have our full support.”

Corporate Profile

SBM Offshore N.V. (the “Company”) 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 “Group”).

SBM Offshore provides floating production solutions to the offshore energy industry, over the full product life-cycle.  SBM Offshore is market leading in leased floating production systems with multiple units currently in operation and has unrivalled operational experience in this field.  The Group’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.

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 concerned.  Please visit our website at www.sbmoffshore.com.

The Management Board
Amsterdam, The Netherlands, December 21, 2015

For further information, please contact:

Investor Relations

Nicolas D. Robert
Head of Investor Relations

Media Relations

Anne Guerin-Moens
Group Communications Director

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. 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.

¹Directional view is a non-IFRS disclosure, which treats all lease contracts as operating leases and consolidates all vessel joint ventures are proportionally consolidated.