SBM Offshore nominates Øivind Tangen as member of the Management Board

January 13, 2022

SBM Offshore is pleased to announce the proposed appointment of Øivind Tangen as Chief Operating Officer (COO) and member of its Management Board. Øivind Tangen (1973, Norwegian) has been working for the Company for 19 years and has a wealth of experience in engineering and operational roles, as well as in strategy and project execution. He is currently a Managing Director of the Company, responsible for SBM Offshore’s Lease and Operate segment, which includes the Company’s FPSO fleet.

Øivind Tangen holds an MSc in Naval Architecture from the Norwegian University of Science and Technology and ENSTA, Paris, as well as a Master of Management and Economics of Energy and the Environment from ENI Corporate University.

Øivind Tangen’s proposed appointment to the Management Board will be submitted for approval at the General Meeting to be held on April 6, 2022 (AGM).

The proposed appointment of Øivind Tangen to the Management Board underlines the Company’s focus on excellence in operations and project execution. At the same time, it will enable additional focus on delivery of SBM Offshore’s strategy through the energy transition.

Philippe Barril (currently COO) will be appointed Chief Transition Officer (CTO). The creation of a CTO role at the Management Board confirms the Company’s ambition to play a leading role in the energy transition. Human Resources, Legal & Compliance, Health, Safety, Security and Environment (HSSE) and some other corporate functions will report to the CTO.

Douglas Wood will continue as Chief Financial Officer. In the new set up of the Management Board, he will also assume responsibility for Communications in addition to Investor Relations.

Erik Lagendijk (1960, Chief Governance & Compliance Officer) has decided to step down from the Management Board after the AGM.

Bruno Chabas, CEO, said: "It is with great pleasure that we welcome Øivind to the Management Board. His nomination marks the quality of our pool of talent. Øivind has demonstrated his leadership over many years at SBM Offshore. By adding Øivind to the Management Board and with Philippe and Douglas taking a broader role as well, SBM Offshore is well positioned to deliver results in both our traditional business and strengthen our position in New Energies. I would like to thank Erik for his considerable contribution to SBM Offshore and in leading our commitment to do business with integrity.”

Erik Lagendijk said: "It is extremely satisfying to see that the Company has overcome its past issues and is now well positioned for the future. After 7 years on the Management Board, I welcome the change and the opportunity to hand over to the next generation.”

Corporate Profile

The Company’s main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry over the full lifecycle. The Company is market leading in leased floating production systems, with multiple units currently in operation.

As of December 31, 2020, the Company employs approximately 4,570 people worldwide spread over offices in our key markets, operational shore bases and the offshore fleet of vessels.

SBM Offshore N.V. is a listed holding company headquartered in Amsterdam, the Netherlands. It holds direct and indirect interests in other companies.

Where references are made to SBM Offshore N.V. and /or its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies "SBM Offshore” or "the Company” are sometimes used for convenience.

For further information, please visit our website at www.sbmoffshore.com.

The Management Board
Amsterdam, the Netherlands, January 13, 2022

For further information, please contact:

Investor Relations
Bert-Jaap Dijkstra
Group Treasurer and IR

Media Relations
Vincent Kempkes
Group Communications Director

Disclaimer

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. 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. Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.

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• SBM Offshore nominates Øivind Tangen as member of the Management Board