Press Release

Weekly share repurchase program transaction details

September 29, 2021

SBM Offshore reports the transaction details related to its EUR150 million (c. US$180 million) share repurchase program for the period September 23, 2021 through September 29, 2021.

The repurchases were made under the EUR150 million share repurchase program announced on and effective from August 5, 2021. The objective of the program is to reduce share capital and, in addition, to provide shares for regular management and employee share programs. Information regarding the progress of the share repurchase program and the aggregate of the transactions (calculated on a daily basis) for the period August 5, 2021 through September 29, 2021 can be found in the top half of the table below. Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investors section of the Company's website.

Share Repurchase Program

Overall progress Share Repurchase Program:

Total Repurchase Amount

EUR 150,000,000

Cumulative Repurchase Amount

EUR 124,677,838

Cumulative Quantity Repurchased

8,304,000

Cumulative Average Repurchase Price

EUR 15.01

Start Date

August 5, 2021

Percentage of program completed as at September 29, 2021

83.12%

Overview of details of last 5 trading days:

Quantity

Average

Settlement

Trade Date

Repurchased

Purchase Price

Amount

September 23, 2021

178,000

EUR 15.16

EUR 2,697,957

September 24, 2021

240,000

EUR 15.11

EUR 3,625,732

September 27, 2021

182,000

EUR 15.10

EUR 2,747,587

September 28, 2021

260,000

EUR 15.07

EUR 3,918,950

September 29, 2021

184,000

EUR 15.10

EUR 2,779,105

Total1

1,044,000

EUR 15.10

EUR 15,769,330

1All shares purchased on Euronext Amsterdam and CBOE DXE

This press release contains information which is to be made publicly available under the Market Abuse Regulation (nr. 596/2014). The information concerns a regular update of the transactions conducted under SBM Offshore's current share repurchase program, as announced by the Company on August 5, 2021, details of which are available on its website.

SBM OFFSHORE N.V. Press Release - September 29, 2021

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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, September 29, 2021

Financial Calendar

Date

Year

Trading Update 3Q 2021 - Press Release

November 11

2021

Full Year 2021 Earnings - Press Release

February 10

2022

Annual General Meeting

April 6

2022

Trading Update 1Q 2022 - Press Release

May 12

2022

Half Year 2022 Earnings - Press Release

August 4

2022

SBM OFFSHORE N.V. Press Release - September 29, 2021

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For further information, please contact:

Investor Relations

Bert-Jaap Dijkstra

Group Treasurer and IR

Mobile: +31 (0) 6 21 14 10 17

E-mail: bertjaap.dijkstra@sbmoffshore.com

Website: www.sbmoffshore.com

Media Relations

Vincent Kempkes

Group Communications Director

Mobile: +377 (0) 6 40 62 87 35

E-mail: vincent.kempkes@sbmoffshore.com

Website: www.sbmoffshore.com

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 NV published this content on 29 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2021 08:01:10 UTC.