February 3, 2021

SBM Offshore intends to collect financial estimates from sell-side equity analysts covering the Company every half-year ahead of the semiannual and annual earnings announcements. The Company compiled consensus is calculated as a simple arithmetic average of forecasts made by these analysts, which is subject to change. The below estimates were collected between the 8th of January and the 2nd of February, 2021.


1/ As Directional reporting has been adopted by the majority of the analysts, only Directional estimates are provided.

2/ Consistent with Half Year 2020 earnings update and Third Quarter 2020 Trading update Guidance, Full Year 2020 estimates exclude the exceptional positive impact on revenue and EBITDA resulting from the redelivery of the Deep Panuke platform but includes the negative impact on EBITDA resulting from the Company restructuring costs. As such, for 2020, the revenue and EBITDA were restated to exclude the positive effect from the recognition of the result related to 2021 – in line with cash receipts.

3/ Full Year 2021 estimates include the positive impact on revenue and EBITDA related to Deep Panuke platform financial contribution to be received in 2021. This contribution was excluded from results in 2020 per note 2/ and is in line with cash receipts.



Forward-looking statements: The information above is a collection of future expectations and other forward-looking statements of sell-side analysts who cover SBM Offshore (also “the Company”). The views and assumptions (and, therefore, the consensus estimate numbers) are theirs alone. The presence of this consensus on SBM Offshore’s website does not constitute or imply any validation, concurrence or approval of the estimates presented, or of any element thereof, by the Company. The information presented is not and cannot be construed as an invitation or a recommendation to buy or sell securities or to effect any transaction of any kind. Consensus on SBM Offshore’s financial results is also available from other sources, such as Bloomberg and Thomson Reuters I/B/E/S. The Company will not provide any commentary on the consensus or answer questions on it. The circulation of the consensus by the Company is not mandatory and the Company may amend its practice on this at any time. The Company assumes no liability for the accuracy of such estimates and undertakes no obligation to update or revise such estimates.

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