SBM Offshore N.V — M&A Activity 2012

Jun 15, 2012

Press release Press release

SB under framework agreement under framework agreementM under from interim award FPSO receives interim for Fram

15 June 2012 15 June 201215

SBM Offshore is pleased to announce that it has supply, lease and operation of Offshore to commence planned SBM Offshore is pleased to announce that it has supply, lease and operation of Offshore to commenceplanned In March 2012, Shell and SBM Offshore signed five year that Fram FPSO SBM supply, Offshore In s, with an option to extend for another five SBM Offshore project, which is subject to a Final Investment Decision enginee on FPSOs 's provider. The agreement earlier in award for Shell agreement signed in Fram FPSO from Shell supply, lease a FPSO engineering and procurement of Offshore is pleased project, with FPSO, subject to a Final Investment Decision, will be pleased received a letter of interim award (LOIA) in the UK sector of interim award (LOIA) lead items to ensure Decision. timel timely completion of the Sea. y . The LOIA allows SBM from Shell The LOIA allows y completion of the for the

In March 2012, Shell and SBM Offshore signed five lease and operate basis. The Fram FPSO developed under the terms of th years th In March The hull will be based on a an lease and under the to focus for the Fram field Shell and an of in Enterprise Framework Agreement years project long lead items to years, to supply supply small and medium sized FPSOs North Sea position as the the North Sea Enterprise (EFA) as This from Shell the first project covering a term covering a term small and medium sized FPSOs globally the first project turret globally to be of on a

The hull of the FPSO permanent mooring system. The crude will be Fulmar pipeline. system. The crude will be said: are delightedlease developed The permanent Fulmar Bruno and project in the North Sea for Shell. This award reaffirms our strategy to focus on FPSOs converted Aframax tanker to shuttle tankers and the g Decision, the and will incorporate an gas exported via the existing internal turret

Bruno Chabas CEO of SBM Offshore said: "We are delighted and operate develop is a commitment to work with Shell on a long term basis developing many more FPSO projects with Shell around the world in the future" www.sbmoffshore.comSBM O lease and operate basis. The Fram FPSOdeveloped under the terms of thThe hull of the FPSO permanent mooring system. The crude will be Fulmar pipeline.Bruno Chabas CEO of SBM Offshore said: "We are delightedand operatedevelopis a commitment to work with Shell on a long term basis developing many more FPSO projects with Shell around the world in the future" SBM with Shell on a long term basis with Shell around the world in the future" www.sbmoffshore.comOffshore is developing the ffshore , Offshore future"reaffirms our strategy to focus on FPSOs Offshore's position as the world's leading FPSO provider. The agreement signed earlier in is a in ffshore receives interim award for Fram FPSO from Shell to ring EFA. Chabas CEO SBM commitment work developing many under , offloaded to project, which , SBM Offshore develop offshore floating solutions. by t floating solutions. the e letter of interim award the world's future". for this FPSO lease We look forward to as exported this FPSO leaseproject in the North Sea for Shell. This award reaffirms our strategy as we 's position world's leading forward to leading FPSO provider. the year

Financial Calenda Financial Financial Calendar	r	Date	Year
Extraordinary Extraordinary	General Meeting of Shareholders General	27 June	2012
Half-year Results 2012 Half year Results	- Press Release Release (07.30 CET)	16 August	2012
Half-year Results 2012 Half year Results	- Analysts Presentation (Amsterdam) Analysts Presentation	16 August	2012
Trading Trading Update Q3 2012 Update	- Press Release (07.30 CET)	15 November	2012
Full-year Results 2013 Full year	– Press Release (07:30 CET) Press	7 March	2013
Full-year Full year Results 2013	– Analysts Presentation (Amsterdam) Analysts	7 March	2013
Trading Trading Update Q	Q1 2013 1 - Press Release (07.30 CET)	23 May	2013
nnual nnual General Meeting	Annual General Meeting of Shareholders (Rotterdam 14.30 CET) Shareholders (Rotterdam	23 May	2013
Half-year Results 201 Results 2013 Half year	- Press Release (07.30 CET)	8 August	2013
Half-year Results 201 Half year Results 2013	- Analysts Presentation (Amsterdam) Analysts Presentation	8 August	2013
Trading Trading Update Q3 201 Update	2013 - Press Release (07.30 CET)	14 November	2013
Offloading Offloading (FPSO) vessels. supplied on The Company The Company has capability, enhancement enhancement of product quality. Headqu artered execution execution centres,	These These are either owned and operated by the Company and leased to our clie are are either owned and and operated on a turnkey sale basis basis. The Company has built over several years a large in has built over several years a large in house engineering, house house consistency from project to project, and project, enable a capability, to ensure consistency from project to project, and so enable a continuous improvement process for from project and so enable Headquartered in Schiedam, the Company employs over 6,200 people in Schiedam, Schiedam, the Company Company employs over 6,200 people people execution centres, eight operational shore bases, several construction yards and the offshore fleet of vessels. centres, eight operational shore bases, several operational construction construction	and leased to our clie leased in-house engineering, procurement and project management and project a continuous improvement continuous improvement process for worldwide, who are spread over seven worldwide, who are several construction yards and the offshore fleet yards and the offshore	our clie clients nts or seven fleet of vessels. vessels.
The Board The The Board of Management Schiedam, 15 June Schiedam,	2012
For further information, For For further information Sebastiaan de Sebastiaan Sebastiaan de Ronde Bresser Sebastiaan de Ronde Bresser	contact: please contact
Telephone: Telephone: Mobile: E-mail: mail: Website:	(+377) 92 05 85 15 (+33) 643 919 312 312 sebastiaan.derondebresser@sbmoffshore.com sebastiaan.derondebresser@sbmoffshore.com sebastiaan.derondebresser@sbmoffshore.com www.sbmoffshore.com www.sbmoffshore.com
www.sbmoffshore.com www.sbmoffshore.com

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Disclaimer

Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward which may cause actual results and performance of the Company's business to differ materially and adversely from the forward forward similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentio 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 in obligation, to update any industry information or forward subsequent events or circumstances. contained are not facts statements could cause actual or events to differ results performance differ and thereof, or thereof, or comparable terminology, or intentio should underlying assumptions prove incorrect, actual results may vary materially from those described in this or Offshore NV or in that historical are statements of future expectations results, performance, or differ materially statements. cause and of Company's business differ materially and adversely forward forward-lo negative other variations thereof, comparable terminology, by or actual from those described in this believed, SBM in update forward www.sbmoffshore.comDisclaimerSome and and from which results from looking terminology such as "believes", "may", "will", "should", "would be", "expects" or "anticipates" or similar discussions intentioshould assumptions described release NV obligation, subsequent could oking forward-looking statements based on forward-looking statements. Certain such forward "will", "should", "would be", "expects" or "anticipates" or looking statements on events in statements. looking Certain forward assumptions those update "expects" or "anticipates" or assumptions may in as Offshore statements. Some to looking oking thereof, discussions should from release subsequent events as forwardvariations by assumptions looking oking intentions. Should one or more of these risks or uncertainties materialize, or materially materially forwardadversely ns. or these risks uncertainties materialize, or SBM inlooking management's current views and assumptions and involve known unknown -looking statements are subject to vari forwardvary materially looking views assumptions and involve known are thereof, or of statements risks actual of such may SBM forward-looking statements set forth in this release to reflect management's views uncertainties that statements may performance statements. such forward-looking statements can be identified by the use of or ns. Should or vary materially this anticipated, looking statements forth looking statements can be identified the in release and may looking as anticipated, assumptions looking can as variations performance intend, and does not assume any contained this historical current various risks and uncertainties, the "may", one actual this tend, and looking release ous assumptions the uncertainties "may", or other incorrect, in set this current and unknown and and actual and use terminology such "believes", "will", "should", the one of uncertainties incorrect, actual from those tend, does not this to and which the the are that cause the expressions, other underlying prove described looking terminology risks statements similar management's and the business expressions, Should those