SMB OFFSHORE/MEMORANDUM OF UNDERSTANDING SIGNED WITH BRAZIL’s CGU-Comptroller General Office and the AGU- Attorney General Office

SMB OFFSHORE/MEMORANDUM OF UNDERSTANDING SIGNED WITH BRAZIL’s CGU-Comptroller General Office and the AGU- Attorney General Office

March 17, 2015

The Comptroller General’s Office (Controladoria-Geral da União – “CGU”), the Attorney General’s Office (Advocacia-Geral da União – “AGU”) and SBM Offshore announce that they today signed a Memorandum of Understanding (MoU).  This MoU sets a framework between the Company, the CGU and the AGU for discussions on a potential mutually acceptable settlement and for the disclosure by SBM Offshore of information relevant to the CGU’s investigations.

Corporate Profile

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

Group companies employ over 10,200 people worldwide.  Full time company employees totalling 6,400 are spread over five regional centres, eleven operational shore bases and the offshore fleet of vessels.  A further 3,800 are working for the joint ventures with several construction yards.  Please visit our website at www.sbmoffshore.com<http://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 concerned.

The Management Board

Schiedam, The Netherlands, March 17, 2015

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