SBM Offshore N.V — Capital/Financing Update 2012

Aug 3, 2012

Press release

FPSO Cidade de Ilhabela - US\$ 1.05 Billion Loan Facility - Financial close

03 August 2012

SBM Offshore N.V. is pleased to announce that together with its Joint Venture partners, QGOG Constellation and Mitsubishi Corporation, a Limited Recourse Project Loan has been secured for US\$ 1.05 billion to finance the construction of the FPSO Cidade de Ilhabela. The Facility has been designed to allow acceding Banks to join the transaction up to a maximum amount of US\$ 1.2 billion on a pari passu basis.

The loan will be repaid over a 10 year period starting at First Oil expected in September 2014 and benefit from a competitive pricing package arranged on a Club Deal basis with reputable International Commercial Banks.

"We are delighted to have closed this loan facility for a record 1.05 billion US\$ with our partners for this very large FPSO for Petrobras. We are very grateful for such strong support from our lenders in the current difficult environment in the banking market. This arrangement confirms the financing capacity available for good projects and supports our strategic focus to develop our core FPSO business." Bruno Chabas, CEO of SBM.

Financial Calendar	Date	Year
Half-year Results 2012 - Press Release (07.30 CET)	16 August	2012
Half-year Results 2012 - Analysts Presentation (Amsterdam)	16 August	2012
Trading Update Q3 2012 - Press Release (07.30 CET)	15 November	2012
Full-year Results 2013 – Press Release (07:30 CET)	7 March	2013
Full-year Results 2013 – Analysts Presentation (Amsterdam)	7 March	2013
Trading Update Q1 2013 - Press Release (07.30 CET)	23 May	2013
Annual General Meeting of Shareholders (Rotterdam 14.30 CET)	23 May	2013
Half-year Results 2013 - Press Release (07.30 CET)	8 August	2013
Half-year Results 2013 - Analysts Presentation (Amsterdam)	8 August	2013
Trading Update Q3 2013 - Press Release (07.30 CET)	14 November	2013

Corporate Profile

SBM Offshore N.V. provides floating production solutions to the offshore energy industry, over the full product lifecycle. 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 activity is the design, supply, installation and operation of Floating Production, Storage and Offloading (FPSO) vessels. These are either owned and operated by the Company and leased to our clients or supplied on a turnkey sale basis.

The Company has built over several years a large in-house engineering, procurement and project management capability, to ensure consistency from project to project, and so enable a continuous improvement process for enhancement of product quality.

Headquartered in Schiedam, the Company employs over 6,200 people worldwide, who are spread over seven execution centres, eight operational shore bases, several construction yards and the offshore fleet of vessels.

The Board of Management Schiedam, 3 August 2012

For further information, please contact: Sebastiaan de Ronde Bresser

Telephone:	(+377) 92 05 85 15
Mobile:	(+33) 643 919 312
E-mail:	sebastiaan.derondebresser@sbmoffshore.com
Website:	www.sbmoffshore.com

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.