TechnipFMC : Investor Relations Overview

Investor Relations Overview

March 2020

Disclaimer

Forward-looking statements

We would like to caution you with respect to any "Forward-looking statements" made in this presentation as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Words such as "expect," "plan," "intend," "would," "will," and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, and include any statements with respect to the potential separation of the Company into RemainCo and SpinCo, the expected financial and operational results of RemainCo and SpinCo after the potential separation and expectations regarding RemainCo's and SpinCo's respective businesses or organizations after the potential separation.

Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections, including the following known material factors: risks associated with the impact or terms of the potential separation; risks associated with the benefits and costs of the potential separation, including the risk that the expected benefits of the potential separation will not be realized within the expected time frame, in full or at all; risks that the conditions to the potential separation, including regulatory approvals and consultation of employee representatives, will not be satisfied and/or that the potential separation will not be completed within the expected time frame, on the expected terms or at all; the expected tax treatment of the potential separation, including as to shareholders in the United States or other countries; changes in the shareholder bases of the Company, RemainCo and SpinCo, and volatility in the market prices of their respective shares; risks associated with any financing transactions undertaken in connection with the potential separation; the impact of the potential separation on our businesses and the risk that the potential separation may be more difficult, time-consuming or costly than expected, including the impact on our resources, systems, procedures and controls, diversion of management's attention and the impact on relationships with customers, governmental authorities, suppliers, employees and other business counterparties; unanticipated changes relating to competitive factors in our industry; our ability to timely deliver our backlog and its effect on our future sales, profitability, and our relationships with our customers; our ability to hire and retain key personnel; U.S. and international laws and regulations, including existing or future environmental or trade/tariff regulations, that may increase our costs, limit the demand for our products and services or restrict our operations; disruptions in the political, regulatory, economic and social conditions of the countries in which we conduct business; downgrade in the ratings of our debt could restrict our ability to access the debt capital markets; and such other risk factors as set forth in our filings with the U.S. Securities and Exchange Commission and in our filings with the Autorité des marchés financiers or the U.K. Financial Conduct Authority.

We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

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Contents

1. Q4 2019 Financial and operational highlights
2. Reshaping Our Future
3. Company overview

Section 1:

Q4 2019 Financial and operational highlights

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2019

Growth

• Total Company inbound orders of $22.7 billion, backlog of $24.3 billion
• Significant order growth, driven by LNG and acceleration of integrated Subsea awards
• Improved visibility, with $12.7 billion in backlog scheduled for execution beyond 2020

12019 growth versus 2018

59%		67%
Inbound growth1		Backlog growth1

>2x	37%
Value1 of scope	Subsea
in iEPCI™ awards	backlog growth1
>$8B	89%
LNG	Onshore/Offshore
awards	backlog growth1

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Higher activity across all segments drives revenue growth

Total Company revenue

	$15		$13.4B
		$12.6B
billions)(in
		+7%
Revenue	$10
$5
	$0
	2018	2019

Subsea Onshore/Offshore Surface Technologies

• Total Company revenue of $13.4 billion, representing 7% growth versus 2018
• Book-to-billof 1.7x for the full year

	 Higher mix of integrated project (iEPCI™) activity
Subsea	 15% revenue growth in Subsea Services
	 14% revenue growth in Subsea

	Onshore/	 Segment revenue inflected from 2018 trough
	 Three quarters of sequential revenue growth
	Offshore
	 Non-Yamal revenue growth exceeded 25%

	Surface	 International revenues 50%+ of segment total
	 15%+ revenue growth outside North America
	Technologies
	 2% revenue growth despite North America decline

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2020 outlook and segment guidance1

Subsea		Onshore/Offshore

Surface Technologies

• Continued strength in brownfield activity for small/mid-sized project FIDs; healthy outlook for greenfield project FIDs next 24 months (timing impacts 2020 order growth)
• Expect double-digit growth in services driven by digital monitoring, well intervention, and asset refurbishment
• Following normal seasonal impact in the first quarter, margin to improve due to project timing and increased asset utilization over remainder of year

• Natural gas a critical enabling fuel in the energy transition; additional LNG capacity required to meet growing demand
• Expect additional LNG projects to be sanctioned near-to-intermediate term
• Opportunity-richdownstream environment; leverage early engagement and process technologies in selective pursuit of refining, petrochemical, and biofuel projects
• Guidance includes the impacts that we can estimate at this time for the Coronavirus

• Anticipate double-digit growth in international markets driven by market activity; notable strength in the Middle East, Asia Pacific, and the North Sea
• Anticipate North America activity to decline 10% versus 2019; drilling and completions activity to improve in second half of 2020

2020 segment guidance is reflective of the new business perimeters related to the Company's announced separation.

Businesses with ~$120 million of revenue in 2019, most of which was in Surface Technologies, are now included in Onshore/Offshore guidance for 2020.

 Revenue in a range of $6.2-6.5 billion		 Revenue in a range of $7.5-7.8 billion		 Revenue in a range of $1.4-1.6 billion
 Adjusted EBITDA margin at least 11%		 Adjusted EBITDA margin at least 10%		 Adjusted EBITDA margin at least 12%

1Our guidance measures adjusted EBITDA margin (a non-GAAP financial measure) which excludes amortization related impact of purchase price accounting, and other charges and credits. We are unable to provide a reconciliation to a comparable GAAP measure on a forward-looking basis without unreasonable effort because of the unpredictability of the individual components of the most directly comparable GAAP financial measure and the variability of items excluded from such measure. Such information may have a significant, and potentially unpredictable, impact on our future financial results.

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	2020& Beyond
	TechnipFMC		Technip Energies
	Subsea		Surface Technologies		Onshore/Offshore
	Leading		Transforming		Transitioning
•	Maintaining market leadership	•	Leveraging strong international	•	New growth cycle underpinned
	position in Subsea		franchise for further growth		by strength in backlog
•	Maximizing flexibility to deliver	• Customer focus on efficiency,	•	Maintaining intense focus on
	integrated solutions (iEPCI™)		footprint and emissions		execution
• Aligning our assets with the	•	Optimizing North American	•	Selecting projects that provide
	right strategic partners and		services and operating		the best opportunity for success
	geographies		geographies		for customer and TechnipFMC
	Proactively taking actions to better position ourselves for 2020 and beyond
					Investor Relations Overview | 8

Technip

Energies

• A leading E&C player, poised to capitalize on the global energy transition
• Transaction remains on-track for completion in second quarter of 2020
• Technip Energies to host Capital Markets Day ahead of transaction

Reshaping

our	TechnipFMC
A fully-integrated technology and services

provider, continuing to drive energy development

Further optimization to strengthen our leadership position in Subsea

Leverage leading Surface Technologies position

future	to capitalize on international market growth as we
transform our North American business

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Q4 2019 Company results

Revenue of $3.7 billion

Adjusted EBITDA of $404 million

Q4 2019

Company results

Backlog of $24.3 billion

Operating cash flow of $559 million

		Q4 2019 EPS walk
				$ millions	$ / Share
	GAAP Net income,
	$	(2,414.0)	$	(5.40)
	as reported
	Charges and credits,	$	2,429.1	$	5.43
	after-tax
	Adjusted Net Income,	$	15.1	$	0.03
	as reported
	Other items impacting results:
	Foreign exchange (F/X) losses,	$	56.5	$	0.13
	after-tax
	Increased liability payable to	$	99.1	$	0.22
	joint venture partners (MRL 1 )
		Items of note
 Company does not provide guidance for F/X or MRL; if	these
		expenses were excluded, adjusted net income would have
		been $0.38 per diluted share
 F/X impact largely driven by the significant devaluation of the
		Angolan Kwanza
 Company fully remediated all previously disclosed
		material weaknesses
1MRL = Mandatorily redeemable financial liability
					Investor Relations Overview | 10

Q4 2019 Segment results

Subsea		Onshore/Offshore		Surface Technologies
USD, in millions		USD, in millions		USD, in millions

+21%		+40 bps	+10%	+120 bps		-2%	-190 bps
1,487	12.0%	12.4%	1,832	14.2%	417	408	15.6%
		1,672
1,233				13.0%			13.7%

Revenue

Adjusted EBITDA margin

Revenue

Adjusted EBITDA margin

Revenue

Adjusted EBITDA margin

4Q18

4Q19

4Q18

4Q19

4Q18

4Q19

Operational highlights

• Revenue increased 21%: double-digit growth in both project and service activities
• Adjusted EBITDA margin increased 40 bps to 12.4%: cost reduction activities and project completions offset the impact of more competitively priced backlog
• Inbound orders of $1.2 billion; book-to-bill of 0.8; period-end backlog at $8.5 billion

Operational highlights

• Revenue increased 10%: higher activity in Europe, Asia and North America as well as our Process Technology group, partially offset by lower activity on the Yamal LNG project
• Adjusted EBITDA margin increased 120 bps to 14.2%: benefited from strength in execution across the portfolio, particularly Yamal LNG
• Inbound orders of $1.1 billion; book-to-bill of 0.6; period-end backlog at $15.3 billion

Operational highlights

• Revenue decreased 2%: lower completions related activity in North America, largely offset by revenue growth in international markets
• Adjusted EBITDA margin decreased 190 bps to 13.7%: further declines in volume and pricing in North America, partially offset by cost reduction activities
• Inbound orders of $432 million; book-to-bill of 1.1; period-end backlog at $473 million

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Strong Q4 operating cash flow drives solid full year result

Operating cash flow

(in $ millions)

559

121	74	94
	1Q19		2Q19		3Q19		4Q19

Items of note

Q4 2019

• Operating cash flow of $559 million
• • Benefited from timing differences between project milestone and vendor payments
• Yamal JV partner payments of $119 million

FY 2019

• Operating cash flow of $849 million
• Shareholder distributions of $326 million
• • $233 million dividends, $93 million share repurchase

Q4 2019 Cash flow walk

(in $ millions)

5,190

4,504

Cash & cash	Cash flow	Capital	Shareholder	Mandatorily	Increased	All other	Cash & cash
equivalents at	from operating	equivalents at
expenditures	distributions	redeemable	borrowings	(incl. FX)
Sep 30, 2019	activities	Dec 31, 2019
		liability

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2020 Financial guidance

2020 Revenue coverage from backlog

		Subsea	Onshore/Offshore
(at midpoint of guidance range)	(at midpoint of guidance range)
Subsea Services /	Book & Turn
Book & Turn

$6.35B	$7.65B
midpoint	midpoint
2020	2020
Backlog	Backlog
	86%
71%
coverage	coverage

• Subsea revenue coverage driven by:
• • Backlog scheduled for 2020 execution is ~71% at revenue midpoint
  • Services revenue >$1 billion expected; minimal amount in backlog
• Onshore/Offshore revenue coverage driven by:
• • Backlog scheduled for 2020 execution is ~86% at revenue midpoint
  • Anticipate $400-500 million in revenue from Yamal LNG

2020 Corporate guidance

• Corporate expense, net $180 - 190 million for the full year (excluding the impact of foreign currency fluctuations)
• Net interest expense $80 - 90 million for the full year
  (excluding the impact of revaluation of partners' mandatorily redeemable financial liability)
• Tax rate 28 - 32% for the full year
• Capital expenditures approximately $450 million for the full year
• Cash flow from operating activities to exceed $1 billion for the full year

Additional items of note

• 2020 segment guidance is reflective of the new business perimeters related to the Company's announced separation
• Businesses with ~$120 million of revenue in 2019, most of which was in Surface Technologies, are now included in Onshore/Offshore guidance for 2020

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Highlights

• Subsea revenue benefited from increased activity; accelerated adoption of new technologies and iEPCI™
• Onshore/Offshore delivered third quarter of sequential

revenue growth; clear inflection from 2018 trough	Strong revenue coverage for both Onshore/Offshore and
Generated $559 million in operating cash flow; $849	Subsea with more than $24 billion of secured backlog
Taking action in support of our focus on market
million in 2019, positive in all four quarters
	leadership and continued business transformation
	Expect operating cash flow to improve versus 2019;
	anticipate exceeding $1 billion in 2020

Key takeaways

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Section 2:

Reshaping Our Future

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Successful merger and outstanding performance

Merger extended subsea leadership with integrated model

• Redefined subsea economics resulting in a transformation of the industry
• iEPCI™ model has become the industry standard
• Advanced technology development and innovation across a broader scope

Onshore/Offshore positioned for independent success

• Industry-leadingperformance through the successful delivery of landmark projects
• Order inbound provides unprecedented backlog to support future growth
• Well-positionedto capitalize on growth in natural gas consumption (LNG, ethylene)

Transaction to drive additional value of the two businesses

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Creating two diversified pure-play market leaders

RemainCo

• Proven winning strategy for Subsea
• Greater opportunity for integration in surface production

SpinCo

• Will capitalize on operational performance and strength in backlog
• Leadership in LNG; opportunities in biofuels, green chemistry and other energy alternatives

Each business will be

Strategic Rationale

• Diverging customer bases
• Distinct and compelling market opportunities
• Strong balance sheets and tailored capital structures
• Distinct business profiles with differentiated investment appeal
• Increased management focus
• Enhanced ability to attract, retain and develop talent

uniquely positioned to achieve even greater success

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Transaction summary

Creating two diversified pure‐play market leaders:

• SpinCo, a leading E&C player, poised to capitalize on the global energy transition
• RemainCo, a fully-integrated technology and services provider, continuing to drive energy development

Pursuing tax free spin of SpinCo for certain shareholders where permissible, including the United States

Anticipating investment grade credit metrics for both entities

Expect transaction to be completed in first half of 2020, subject to customary conditions and final Board approval

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TechnipFMC - Creating two undisputed industry leaders

RemainCo

Unlocking value, realizing potential

SpinCo

Capitalizing on structural growth trends

Revenue: $8 billion1,2

Backlog: $10 billion1,3

Listings: NYSE, Euronext Paris

HQ: Houston; Domicile: United Kingdom

Management: Chairman and CEO Doug Pferdehirt CFO Maryann Mannen

Employees: ~22,000

Revenue: $8 billion1,2

Backlog: $18 billion1,3

Listing: Euronext Paris

HQ: Paris; Domicile: Netherlands

Management: CEO-elect Catherine MacGregor CFO-elect Bruno Vibert COO-elect Marco Villa

Employees: ~15,000

1. In accordance with U.S. generally accepted accounting principles (GAAP). Following separation, RemainCo and SpinCo will be subject to immaterial carve-out adjustments.
2. As of February 26, 2020. For RemainCo, midpoint of TechnipFMC 2020e revenue guidance for Subsea ($6.35B) and Surface Technologies ($1.5B). For SpinCo, midpoint of TechnipFMC revenue guidance for Onshore/Offshore ($7.65B).
3. As of December 31, 2019. For RemainCo, backlog includes Subsea ($8.5B consolidated, $0.8B non-consolidated) and Surface Technologies ($0.5B). For SpinCo, backlog

includes Onshore/Offshore ($15.3B consolidated, $3B non-consolidated).	Investor Relations Overview |	19
	Investor Relations Overview	| 19

Distinct business profiles

		RemainCo	SpinCo
		Upstream focus	Midstream/Downstream leverage
Customers
		Medium	Low
Capital intensity
Investment horizon (cycle)		Medium	Long
Services opportunity		Very High	Medium
ROIC potential		High	Very High

Each company will have distinct investment appeal

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Creating two industry leaders

Distinct and compelling	Unique business profiles
market opportunities	with differentiated
	investment appeal

Strong balance sheets	Focus, agility and
and tailored capital	strategic flexibility
structures

Continuing to reshape the energy industry and create value for all stakeholders

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SpinCo

Investor Relations Overview | 22 Investor Relations Overview | 22

A differentiated E&C leader

Company overview

World-class execution supported by highly experienced engineers

Leading market positions

Unrivaled product and technology portfolios

Demonstrated ability to manage the most complex projects

Proven record of success

$18B		>20%		>25
Backlog		Of operating		Leading proprietary
		LNG capacity1		technologies

$8B		#1		~15K
Revenue		In Ethylene and		Employees;
		Hydrogen (installed base)		HSE is top priority

1. Percentage is based on 89 / 406 Mtpa of TechnipFMC delivered and operating / industry operating capacity as of July 2019; source: IHS.

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Leadership team

Catherine MacGregor

CEO-elect

23 years of international experience with Schlumberger

Currently serves as President Onshore/Offshore business unit

Previous responsibilities with Schlumberger have included leadership of global divisions representing up to $9 billion in annual revenues:

• President, Drilling Group
• President, Reservoir Characterization Group
• President, Europe and Africa
• President, Wireline
• Vice-President,Human Resources

Bruno Vibert

CFO-elect

5 years with TechnipFMC and more than 20 years of international experience in finance, public accounting and consultancy for the oil and gas industry

Currently serves as Vice-President Finance for the Onshore/Offshore segment and Joint Venture CFO for the Yamal project

Previous responsibilities have included:

• Chief Accounting and Treasury Officer (North America), Technip
• Partner, Fair Links
• Auditor/Senior Manager, Arthur Andersen and EY

Marco Villa

COO-elect

25 years with TechnipFMC and more than 30 years of international experience in operations and finance

Currently serves as President of Europe, Middle East, India and Africa (EMIA) and as deputy to the President of Onshore/Offshore

Previous responsibilities have included:

• Regional President and CFO, Technip
• Chief Financial Officer (Italy), Technip
• Head of Finance and Risk Management, Telespazio SpA (Telecom Italia Group)
• Group Treasury and Financial Planning, Finmeccanica

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Investor Relations Overview | 24

Market outlook

Gas

Total gas demand:

Bcm

4,468

3,92216%

3,65211%

LNG 11%

2017	2022e	2035e

• Gas is the only fossil fuel gaining share
• Unprecedented demand in LNG to drive future growth
• Significant greenfield and brownfield opportunities - selectivity is key

Liquids

Total liquids demand:

Crude, condensate and natural gas liquids; MMb/d

108

104

98

19%

15%

Chemicals 14%

Other

Sectors

2017	2022e	2035e

• Economics favorable for petrochemicals
• Significant refinery and petrochemical activity foreseen
• Increasing adoption of green chemistry

SpinCo is positioned at each major step of hydrocarbon transformation chain

Source: TechnipFMC, McKinsey & Company Energy Insights: Global Energy Perspective, January 2019

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Growth potential driven by LNG market leadership

Market leadership

105Mtpa	>20%	7.8Mtpa
Global production	Of operating LNG	World's largest
delivered	capacity	LNG trains
		delivered

50 year track record in LNG

• World's first LNG Algeria (1964)
• World's largest LNG trains Qatar
• Largest Arctic project Yamal

Pioneer in floating LNG (FLNG)

• World's first FLNG delivered Petronas Satu in Malaysia
• World's largest floating vessel Shell Prelude in Australia
• New frontier Eni Coral in Mozambique

Diversity in projects and technologies

Pioneer in modularization

• Onshore LNG trains on an unprecedented scale
• Greater cost and schedule certainty in extreme locations

Next generation mid-scale LNG

• Economic solutions for smaller reserves (1-3 Mtpa)
• Standardized, modularized design enables repeatability

Pioneer in next generation FLNG

• Liquefaction engineered for minimal footprint
• Split construction to minimize module integration

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Investor Relations Overview | 26

A diversified pure-play with extensive capabilities

Projects			Services
•	LNG	•	Gas monetization	•	Feasibility studies
•	Floating LNG	•	Refining	•	Consulting
•	Fixed and	•	Ethylene,	•	Project management consultancy
	floating platforms		petrochemicals

Process Technology	Products
•	Ethylene	•	Petrochemicals, polymers	•	Cryogenic loading arms
•	Hydrogen	•	Gas monetization	•	Reformers, heat exchangers
•	Oil refining	•	Renewables	•	Furnaces

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Investor Relations Overview | 27

Proven disciplined operating model

Risk and safety management

Early engagement

Project selectivity

Technology and innovation

Project execution

Consistency in financial performance

Best-in-class profitability though the cycle

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Well-positioned for the energy transition

Gas and green chemistry - a platform for sustainable growth

Gas

A fundamental role to play in the transition

Gas Processing

Top 3

LNG Leader

FLNG Leader

Petrochemicals

Top 3

Gas-enabled transition requires

significant infrastructure

Green Chemistry

A structural growth opportunity

Biological	Biofuels
Components	Biopolymers
Circular	Plastics
Chemistry	Waste to Fuel
Brown to Green	Hydrogens to
Chemistry	Chemicals

Market to triple over the next 10 Years1

1. Source: TechnipFMC, McKinsey & Company Energy Insights: Global Energy Perspective, January 2019

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Investor Relations Overview | 29

Building blocks for incremental growth

Installed base	Digital twin	Services maintenance	Revamp project
		opportunities	opportunities

Service and project opportunities driven by digital capabilities

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SpinCo - a compelling investment opportunity

A global leader in E&C

• Diversified pure-playwith undisputed leadership positions in major end markets
• Positioned to play a key role in the energy transition
• Broadening service capability and growing green portfolio

Proven, differentiated project execution

• Early engagement and strong risk management drive operational excellence
• Commercial discipline and selectivity
• Trusted partner executing the world's largest, most challenging projects

Attractive financial attributes

• Sector leading and consistent financial performance with high return on invested capital
• Order inbound provides unprecedented backlog to support future growth
• Well-capitalizedto support growth initiatives and shareholder returns

Capitalizing on unique attributes to capture market opportunity and drive sustainable value creation

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RemainCo

Investor Relations Overview | 32 Investor Relations Overview | 32

An integrated production-focused leader

Company overview

Pioneered proven fully-integrated Subsea model delivering sustainable improvements in project economics

Implementing Subsea model in surface production to drive similar success

Uniquely positioned for growth in deepwater, conventional and unconventionals

$10B		#1		#1
Backlog		iEPCI™		Precision robotics

$8B		>50%		~22K
Revenue		Of offshore production		Employees;
		flows through our		HSE is top priority
		technology

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Positioned to meet growing demand

Liquids production

Crude, condensate and natural gas liquids; MMb/d

				16	108
100
	41		13
		20
2018	Net Decline	Offshore	Shale oil	Conventional	2035e
				and other

• 49MMb/d of new liquids
  production is required to meet expected demand
• 20MMb/d is expected to come from offshore
• 13MMb/d is expected to come from Shale oil

Source: TechnipFMC, McKinsey & Company Energy Insights: Global Energy Perspective, January 2019

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Positioned to meet growing demand	49MMb/d of new liquids production is
required to meet expected demand

Liquids production

Crude, condensate and natural gas liquids; MMb/d

Offshore

				16	108
100
	41		13
		20
2018	Net Decline	Offshore	Shale oil	Conventional	2035e
				and other

• Subsea industry leader
• Proven success with integrated subsea commercial model
• Differentiated by proprietary technologies

Shale oil and conventional

• Leader in conventionals
• Leverage learnings from integrated commercial model

RemainCo uniquely positioned across all 3 resource classes	• Capitalize on Subsea
Source: TechnipFMC, McKinsey & Company Energy Insights: Global Energy Perspective, January 2019	technology innovation
	Investor Relations Overview | 35

Supporting the supply of gas for LNG

Gas production

Bcm

			943
	881	683
				4,460
3,715
2018	Net decline	Offshore	Onshore	2035e

Source: TechnipFMC, McKinsey & Company Energy Insights: Global Energy Perspective, January 2019

• 45% of new gas production is
  expected to come from offshore sources
• Onshore gas will primarily supply pipeline flows or be consumed near source
• Offshore gas will primarily supply LNG flows

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iEPCI™ - The industry standard

iEPCI™ is a structural transformation

Integrated awards to TechnipFMC are growing in both value and as a percentage of Subsea orders

$4							60%
$3							40%
$2
$1							20%
$0								0%
2016	2017	2018	2019
			iEPCI™ award value ($B)		iEPCI™ % of FTI Subsea orders

• Widespread adoption of integrated model across regions and clients
• Integrated awards a growing proportion of Subsea order inbound
• iEPCI™ provides a differentiated growth engine for TechnipFMC

iEPCI™ acceleration

$3B+ iEPCI™ awards as of December 31, 2019

13	5	5
New	Repeat	New
iEPCI™ projects	iEPCI™	iEPCI™
in 2019	customers	alliances

• iFEED™ conversion drives iEPCI™ momentum
• iEPCI™ >40% of TechnipFMC Subsea orders in 2019
• Expanding the iEPCI™ reach with new customers and alliances

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Investor Relations Overview | 37

Unique drivers of revenue growth

Services
CAGR = 12+%
2018	2020e

• Diversified, growing revenue base that exceeds $1billion
• Resilient, margin-accretive aftermarket services
• Service potential on ~50% of subsea installed base

Alliance partners

• Long-term,mutually beneficial relationships
• iEPCI™ alliances utilize full integrated offering
• Exclusive alliances result in direct awards

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iProduction™ leadership

Subsea

Surface Technologies

Proven playbook

Significant opportunity

•

iEPCI™

•

Integrated commercial model

•

Subsea 2.0™

•

Technology transfer from Subsea

•

Alliances

•

Alliances

Commercial model

50%

Technology

Market capital expenditures for surface >2x that of subsea

40%

Client intimacy

>40%

30%

20%

Market

Pilot

Introduction

Market

Penetration

10%

0%

iEPCI % of FTI Subsea orders

2016

2017

2018

2019

2019

2020

2021

2022

2023

2024

Applying proven integrated approach from Subsea to capture the significant opportunities in surface production

Source: TechnipFMC, McKinsey & Company Energy Insights: Global Energy Perspective, January 2019

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Technology leadership

Integration technologies

Subsea 2.0™

iProduction™

Using differentiated technologies to bring significant additional value as part of an integrated system

Digital and automation	Robotics

NextGen	Precision
subsea controls	robotics for ROV

Surface production	Subsea
automation	mechatronics

Applying Subsea digital and		Utilizing mechatronics to transform
automation technologies to transform		subsea production system via robotic
Surface Technologies		and mechanical systems integration

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Investor Relations Overview | 40

RemainCo - applying integrated model to drive further value

A global leader

A differentiated strategy

Attractive financial attributes

• Diversified pure-playuniquely positioned to capitalize on growth in deepwater, conventional and unconventional production
• Undisputed leader in subsea with pioneering iEPCI™ commercial model
• Leading provider of technologies and services for surface markets

• Extending market adoption of integrated model through iFEED™, iEPCI™ and iLoF™
• Continued growth through strengthening of long-term alliances and new partnerships
• Leveraging proven subsea integrated model to shale and conventional market

• Growth opportunity for both integrated model and services
• Well-capitalizedbalance sheet supports future growth initiatives
• Returns-focusedgrowth with commitment to shareholder distributions

Reshaping our future, again

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Creating two industry leaders

Distinct and compelling	Unique business profiles
market opportunities	with differentiated
	investment appeal

Strong balance sheets	Focus, agility and
and tailored capital	strategic flexibility
structures

Continuing to reshape the energy industry and create value for all stakeholders

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Section 3:

Company overview

Investor Relations Overview | 43

TechnipFMC snapshot

1		2		$7B
Integrated solutions		Stock exchange		Total company market
provider for the oil and		listings - NYSE		capitalization1
gas industry		and Euronext Paris

$13B		$24B		$5B
Total company		Total company		Total company cash
revenue2		backlog3		balance4

1. Public market quote from Bloomberg, LLP; TechnipFMC market capitalization as of February 26, 2020.
2. Trailing four quarters revenue as of December 31, 2019. Source: Form 8-K filed on February 26, 2020.
3. Backlog as of December 31, 2019; Source: Form 8-K filed on February 26, 2020.
4. Cash and cash equivalents as of December 31, 2019; Source: Form 8-K filed on February 26, 2020.

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Broadest portfolio of solutions for the oil & gas industry

SUBSEA

• Products and systems used in deepwater exploration and production of crude oil and natural gas
• Systems used to control the flow of crude oil and natural gas from the reservoir to a host processing facility
• Integrated design, engineering, manufacturing and installation services for infrastructure and subsea pipe systems

ONSHORE/OFFSHORE

• Onshore facilities related to the production, treatment and transportation of crude oil and natural gas, as well as transformation of petrochemicals such as ethylene, polymers and fertilizers
• Combines engineering, procurement, construction and project management within the entire range of fixed and floating offshore crude oil and natural gas facilities

SURFACE

▪ Products and systems used in offshore exploration and production of crude oil and natural gas

▪ Wellhead systems and high pressure valves and pumps used in stimulation activities for oilfield service companies

▪ Full range of drilling, completion and production wellhead systems

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Portfolio leverage to major energy growth platforms

Subsea

iEPCI™

Transforming subsea

project economics

Subsea 2.0™

Revolutionary product

platform - simpler,

leaner, smarter

iLoF™

A growth engine

LNG

>105Mtpa

Global production

delivered

7.8Mtpa

World's largest LNG

trains delivered

>20%

Of operating LNG

capacity1

Unconventional

Product

reliability

Leading positions in

several products

Technology

Extending asset life

and improving returns

Integrated

offering

$1m savings per well; unique growth platform

1 Percentage is based on 88.0 / 382.2 Mtpa (million metric tons per annum) of TechnipFMC / industry operating capacity as of December 31, 2018; source: IHS, TechnipFMC.

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Subsea competitive strengths

Market leading positions built	Differentiated offering of	Technology advancements to
upon innovation and deep	integrated products, services:	drive greater efficiency and
industry knowledge	iFEED™, iEPCI™ and iLoF™	simplification

FEED Studies

Subsea Production

Flexibles

Umbilicals

Installation

iEPCITM

Field Services

Systems

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SPS / SURF - critical components of offshore development

Oil & gas industry has strong history		SPS / SURF is one of the largest
of subsea tree orders		components of project costs

Subsea tree orders by region 2006-2019 (trees)

600							Drilling / Well	SPS / SURF
				551
						Construction
500
462	452	432
				413
400
		319	375	325			34%
			314
300								39%
				232	211
200					205
				153
100					83			27%

0

FPSO / Platform

• Brazil
• All other regions

Source: Wood Mackenzie, November 2019

Source: Morgan Stanley Research, TechnipFMC Internal Analysis

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Improving project economics for deepwater projects

• More than 400 deepwater discoveries have yet to be developed
• Good progress on deepwater cost reductions with potential for additional savings
• Standardization, technology
  and strong project execution can deliver sustainable savings
• Integrated business model
  can reduce costs of SPS/SURF scope

500

410 Projects

400

300

+40% to 60%

200

100

0

Historical costs				Costs (-20%)
$20-40		$40-60		$60-80		$80-100		> $100

Source: Wood Mackenzie, Rystad

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Subsea offers a full suite of capabilities

Conceptual Design		Project Execution
& FEED1
		Engineering	Procurement	Equipment	Construction	Installation
		supply
Rationalized subsea
architecture		Joint SPS+SURF R&D		Shortened time to first
and design		for improved technology		oil and offshore
Optimized technology		application and		installation through
	combination		better planning
applications
Improved field performance		Reduced project		Strengthen leverage
	interfaces and		on procurement
		contingencies
iFEED™ is an enabler		iEPCI™ is a differentiator

1 Genesis Oil & Gas Consultants TechnipFMC

Life-of-Field

and Maintenance

Maximized	Unique asset
reliability
and
and uptime
technological
Increased	capabilities
aftermarket
capabilities	Best possible
Improved	line-up to

performance over	undertake client
challenges
the life of field
iLoF™ is a growth
engine

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Subsea - integrated approach redefining subsea project economics

Traditional approach

Subsea 2.0™ an enabler to iEPCI™

Enhancements

One global contractor

• Integrated procurement

Optimized subsea architecture

Fewer subsea production system interfaces

Reduced flowline and riser lengths

Less complexity through reduced part counts

Key benefits

Reduced material costs

• Simplified equipment set-up

Optimized flow assurance

Reduced installation phase

Accelerated time to first oil

A field design incorporating Subsea 2.0™ and iEPCI™ can remove over half of the subsea structures while maintaining the same field operability

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Subsea - making subsea short-cycle with Subsea 2.0™ + iEPCI™

Shell Kaikias	Subsea	iEPCI™
2.0™

6 month	Break-even
schedule	price
reduction	<$30/bbl

TechnipFMC is changing the subsea paradigm from a long-cycle to a short-cycle business,

using Subsea 2.0™ and a truly integrated approach (iEPCI™) to field development

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Onshore/Offshore competitive strengths

A market leader, notably in the	Balanced portfolio of projects,	Mega-project capability,
areas of gas and downstream	clients, geographies, and contracts	world class execution

	Offshore				Onshore
Fixed Platforms	Floating	FLNG	LNG	Ethylene		Refining	Petrochemicals
Platforms

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Onshore/Offshore - differentiated growth opportunities

Process Technologies / PMC

• Rising demand for petrochemicals
• • Favorable feedstock to product differentials
  • Technology definition and selection activity
  • 2nd wave of ethylene crackers emerging
• Process Technologies
• • Ethylene
  • Hydrogen
  • Fluid catalytic cracking (FCC)
• Portfolio expansion
• • Epicerol
  • KEM ONE alliance on vinyls
• Project management consultancy (PMC)
• • Reimbursable opportunities

LNG

• Improving market dynamics
• • Rising FEED activity
  • Increasing tendering opportunities
  • Greenfield and brownfield projects
• FEED awards
• • Sempra Energia Costa Azul
• Execution
• • Yamal
  • Coral FLNG
  • Novatek-ledArctic LNG
• Adjacent opportunities
• • Gas FPSO

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Onshore/Offshore - industry leading financial performance

Differentiated operating model

delivering outperformance

• Early engagement
• Project selectivity
• Technology and innovation
• Risk management
• Project execution

2011-2019 Adjusted EBITDA Margin1

18%

15%

12%

9%

6%

3%

0%

2011 2012 2013 2014 2015 2016 2017 2018 2019

1 Adjusted EBITDA Margins for 2011 through 2016 were calculated from legacy Technip S.A.'s publicly available financial information. Adjusted EBITDA Margin is a non-GAAP measure. Adjusted EBITDA Margin as presented excludes the impact of restructuring charges as identified in the reconciliation of GAAP to non-GAAP financial schedule included in this presentation. Adjusted EBITDA Margin for 2017, 2018 and 2019 was provided in the Company's Forms 10-K filed with the Securities and Exchange Commission. We are unable to provide reconciliation to a comparable GAAP measure on a forward-looking basis without unreasonable effort because of the unpredictability of the individual components of the most directly comparable GAAP measure and the variability of items excluded from such measure. Such information may have a significant, and potentially unpredictable, impact on our future financial results.

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Surface Technologies competitive strengths

Leading market positions in		Delivering technology that	Integrated offering delivers up
several niche product offerings		extends asset life, improves	to $1m in savings per well,
		returns	creates unique growth platform

Wellhead	Flowline		Frac, Flowback and Pumps
Drilling			Completion		Production		Midstream/
				Transportation
								Investor Relations Overview | 56

‣

‣

‣

‣

Surface

Flowback and well testing services

‣ Frac-stackand manifold rental and operation services

Installation and maintenance services

treatment systems

‣ Flow metering products and systems

‣ Marine, truck, and railcar loading systems

Advanced separation and flow-

wellhead equipment, chokes, compact valves, manifolds and controls

‣ Treating iron, manifolds, and reciprocating pumps for stimulation and cementing

Drilling, completion and production

Comprehensive offering - from concept to project delivery and beyond

A unique global leader in oil and gas projects, technologies, systems and services

Subsea

Subsea products

• Trees, manifolds, control, templates, flowline systems, umbilicals & flexibles
• Subsea processing
• ROVs and manipulator systems

Subsea projects

• Field architecture, integrated design
• Engineering, procurement

Subsea services

• Drilling systems
• Installation using high-end fleet
• Asset management & production optimization
• Field IMR and well services

Onshore/Offshore

Project management, proprietary technology, equipment and early studies to detailed design

• Offshore
  Fixed platforms (jackets, self-elevating platforms, GBS, artificial islands) and floating facilities (FPSO, semi submersibles, Spar, TLP, FLNG)
• Onshore
  Gas monetization, refining, petrochemicals, onshore pipelines, furnaces, mining and metals
• Services
  Project management consultancy, process technologies

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Appendix

Glossary

Term	Definition	Term	Definition
Bcm	Billion Cubic Meters per Annum	MMb/d	Million Barrels per Day
CAGR	Compound Annual Growth Rate	MRL	Mandatorily redeemable financial liability
E&C	Engineering and Construction	Mtpa	Million Metric Tonnes per Annum
FID	Final Investment Decision	NAM	North America
FLNG	Floating LNG	ROIC	Return on Invested Capital
F/X	Foreign exchange	ROV	Remotely Operated Vehicles
GOM	Gulf of Mexico	ROW	Rest of World
HP/HT	High Pressure / High Temperature
HSE	Health, Safety and Environment
iEPCI™	Integrated Engineering, Procurement, Construction and
	Installation
iFEED™	Integrated Front End Engineering and Design
iLOF™	Integrated Life of Field
LNG	Liquefied Natural Gas

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2020 Financial guidance1

Subsea		Onshore/Offshore		Surface Technologies
 Revenue in a range of $6.2-6.5 billion		 Revenue in a range of 7.5-7.8 billion		 Revenue in a range of $1.4-1.6 billion
 EBITDA margin at least 11%		 EBITDA margin at least 10%		 EBITDA margin at least 12%
(excluding charges and credits)		(excluding charges and credits)		(excluding charges and credits)

2020 segment guidance is reflective of the new business perimeters related to the Company's announced separation.

Businesses with ~$120 million of revenue in 2019, most of which was in Surface Technologies, are now included in Onshore/Offshore guidance for 2020.

TechnipFMC

• Corporate expense, net $180 - 190 million for the full year (excluding the impact of foreign currency fluctuations)
• Net interest expense $80 - 90 million for the full year (excluding the impact of revaluation of partners' mandatorily redeemable financial liability)
• Tax rate 28 - 32% for the full year
• Capital expenditures approximately $450 million for the full year
• Cash flow from operating activities to exceed $1 billion for the full year

1Our guidance measures EBITDA margin (excluding amortization related impact of purchase price accounting, and other charges and credits), corporate expense, net (excluding the impact of foreign currency fluctuations), net interest expense (excluding the impact of revaluation of partners' mandatorily redeemable financial liability), and tax rate are non-GAAP financial measures. We are unable to provide a reconciliation to a comparable GAAP measure on a forward-looking basis without unreasonable effort because of the unpredictability of the individual components of the most directly comparable GAAP financial measure and the variability of items excluded from such measure. Such information may have a significant, and potentially unpredictable, impact on our future financial results.

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4Q19 Updates: Subsea opportunities in the next 24 months1

PROJECT UPDATES

	Added			Removed
	ENI			ENI
	Agogo Full Field			Zabazaba
	PETROBRAS			EQUINOR
	Lula			Carcara
	PETROBRAS			PETROBRAS
	Mero 3			Buzios V

$250M to $500M

$500M to $1,000M

above $1,000M

1February 2020 update; project value ranges reflect potential subsea scope

*Value of remaining scope is less than $250M following partial project award

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Financial disclosures - Yamal LNG

Project disclosure data

Source: Q4 2019 earnings release schedules (Exhibit 6)

Contract liabilities structure
Reduction in contract liabilities: $169m
September 30, 2019 to December 31, 2019
Payments to Vendors or JV partners
Vendor	Joint Venture
(cost)	(profit)
Continued strong execution will	50%	50%
reduce project cost, increasing	TechnipFMC	JV partners
Joint Venture profit	(remains with FTI)	(included in MRL)

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Backlog visibility

	Subsea1		4Q 2019 Inbound orders: $1,172 million
		$8.5 billion
	$4.5 billion		$2.5 billion		$1.5 billion
	2020	2021	2022 & beyond

1 Backlog does not capture all revenue potential for subsea services.

	Onshore/Offshore			4Q 2019 Inbound orders: $1,115 million
			$15.3 billion
	$6.6 billion		$5.1 billion		$3.6 billion
	2020	2021		2022 & beyond
	Surface Technologies			4Q 2019 Inbound orders: $432 million
			$473 million
	$473$418millillion				$20 million
	2020 & 2021

Non-consolidated Backlog2

	Subsea
20203	$138 million
2021	$136 million
2022+	$525 million

$799 million

Onshore/Offshore

20203	$893 million
2021	$874 million
2022+	$1,209 million

$2,976 million

1. Non-consolidatedbacklog represents our proportional share of backlog relating to joint venture work where we do not have a majority interest in the joint venture.
2. 12 months.

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Inbound orders reconciliation

													TechnipFMC Inbound Orders
in $ millions, unaudited
Inbound Orders				2014				2015				2016				2017				2018				2019
					Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
Exchange rate			1.37	1.37	1.33	1.25	1.13	1.11	1.11	1.10	1.10	1.13	1.12	1.08
		1			2,818	3,070	1,686	1,587	1,163	987	590	713	493	852	542	505
Technip Subsea
FMC Technologies Subsea	2	1,919	850	1,072	1,706	552	1,012	1,049	490	346	334	401	570
Subsea	3			4,737	3,920	2,759	3,293	1,715	1,999	1,639	1,203	839	1,186	943	1,074	666	1,773	980	1,725	1,228	1,516	1,554	881	2,678	2,633	1,510	1,172
Onshore/Offshore	4		991	6,636	1,246	2,444	527	683	1,353	2,363	533	823	1,147	1,180	682	1,104	1,153	874	1,850	2,301	1,666	1,609	3,139	8,131	696	1,115
			5		669	610	678	588	422	419	480	348	332	205	298	233	242	276	329	393	410	415	427	435	368	416	405	432
Surface Technologies
Eliminations				(7)	(3)	4	(5)	(5)	(3)	(4)	(7)	(1)	(7)	(9)
		6			6,397	11,159	4,680	6,328	2,660	3,096	3,469	3,910	1,697	2,213	2,381	2,478	1,590	3,153	2,462	2,992	3,487	4,232	3,647	2,925	6,185	11,180	2,611	2,718
Total Company
1	Order intake for Subsea business segment as reported by Technip S.A. Translated from Euros to U.S. dollars using a quarterly average exchange rate that is specified in the table above.
2	Inbound orders for Subsea Technologies business segment as reported by FMC Technologies, Inc.
3	Represents the combination of subsea order intake for the legacy companies for years 2014 through 2016; (Technip Subsea + FMC Technologies Subsea).
4	Order intake for Onshore/Offshore business segment as reported by Technip S.A. for years 2014 through 2016 Translated from Euros to U.S. dollars using a quarterly average exchange rate that is specified in the table above.
5	Combined inbound orders for Surface Technologies and Energy Infrastructure business segments as reported by FMC Technologies, Inc. for years 2014 through 2016.
6	Sum of "Subsea" + "Onshore/Offshore" + "Surface Technologies" for years 2014 through 2016.

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Select financial data

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Investor Relations contacts

Matthew Seinsheimer	James Davis	Phillip Lindsay
Vice President, Investor Relations	Senior Manager, Investor Relations	Director, Investor Relations (Europe)
Tel.: [phone]	Tel.: [phone]	Tel.: [phone]
Email: [e-mail]	Email: [e-mail]	Email: [e-mail]
	Radostina Mims	Melanie Brown
	Director, Investor Relations & Pension Investment	Investor Relations Officer (Europe)
	Tel.: [phone]	Tel.: [phone]
	Email: [e-mail]	Email: [e-mail]
	Alex Durkee
	Investor Relations Analyst
	Tel.: [phone]
	Email: [e-mail]

TechnipFMC.com