TechnipFMC : Fourth Quarter 2021 Earntings Presentation

Q4 2021 Earnings Call Presentation

February 24, 2022

Disclaimer

Forward-looking statements

This communication contains "forward-looking statements" 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. Forward-looking statement usually relate to future events and anticipated revenues, earnings, cash flows, or other aspects of our operations or operating results. Forward-looking statements are often identified by words such as "guidance," "confident," "believe," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could," "may," "will," "likely," "predicated," "estimate," "outlook" and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on our current expectations, beliefs, and assumptions concerning future developments and business conditions and their potential effect on us. While management believes these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. All of our forward-looking statements involve risks and uncertainties (some of which are significant or beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections, including unpredictable trends in the demand for and price of crude oil and natural gas; competition and unanticipated changes relating to competitive factors in our industry, including ongoing industry consolidation; the COVID-19 pandemic and its impact on the demand for our products and services; our inability to develop, implement and protect new technologies and services; the cumulative loss of major contracts, customers or alliances; disruptions in the political, regulatory, economic and social conditions of the countries in which we conduct business; the refusal of DTC and Euroclear to act as depository and clearing agencies for our shares; the United Kingdom's withdrawal from the European Union; the impact of our existing and future indebtedness and the restrictions on our operations by terms of the agreements governing our existing indebtedness; the risks caused by our acquisition and divestiture activities; the risks caused by fixed- price contracts; any delays and cost overruns of new capital asset construction projects for vessels and manufacturing facilities; our failure to deliver our backlog; our reliance on subcontractors, suppliers and our joint venture partners; a failure or breach of our IT infrastructure or that of our subcontractors, suppliers or joint venture partners, including as a result of cyber-attacks; the risks of pirates endangering our maritime employees and assets; potential liabilities inherent in the industries in which we operate or have operated; our failure to comply with numerous laws and regulations, including those related to environmental protection, health and safety, labor and employment, import/export controls, currency exchange, bribery and corruption, taxation, privacy, data protection and data security; the additional restrictions on dividend payouts or share repurchases as an English public limited company; uninsured claims and litigation against us, including intellectual property litigation; tax laws, treaties and regulations and any unfavorable findings by relevant tax authorities; the uncertainties related to the anticipated benefits or our future liabilities in connection with the spin-off of Technip Energies (the "Spin-off"); any negative changes in Technip Energies' results of operations, cash flows and financial position, which impact the value of our remaining investment therein; potential departure of our key managers and employees; adverse seasonal and weather conditions and unfavorable currency exchange rate and risk in connection with our defined benefit pension plan commitments and other risks as discussed in Part I, Item 1A, "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and Part II, Item 1A, "Risk Factors" of our subsequently filed Quarterly Reports on Form 10-Q. In addition, our results may be impacted by the uncertainty of transition to new energy, including the type, development and demand for new energy sources; unpredictable trends in energy transition initiatives; geopolitical, legislative or regulatory initiatives and changes related to energy transition; and our ability to achieve the benefits of the energy transition related business strategies, initiatives, systems, collaborations and applications.

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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Q4 2021 Overview

Financial Results and Operational Highlights

Doug Pferdehirt, Chair and Chief Executive Officer Alf Melin, EVP and Chief Financial Officer

2021 - A breakout year for TechnipFMC

Entered

multi-year upcycle

Improved

financial performance

(versus 2020)

Strengthened balance sheet

• Total orders increased 33% year-over-year, with Subsea growing to $5 billion
• Subsea inbound coming earlier in cycle, more in parallel with U.S. land markets
• Positioned for the energy transition, with inbound orders of $1 billion anticipated through 2025e
• Total Company adjusted EBITDA increased 46% to $580 million
• Subsea adjusted EBITDA margin expanded 200bps to 10.5%
• Surface Technologies achieved record inbound; adjusted EBITDA margin up 300bps to 10.6%
• Strong free cash flow of $523 million from continuing operations
• $901 million of cash proceeds generated through monetization of Technip Energies stake
• Net debt reduced to $678 million, a nearly 70% improvement from the prior year

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Q4 2021 Operational summary

Highlights

• Total Company orders of $2.1 billion; sequential backlog growth of 9% to $7.7 billion
• Subsea orders of $1 billion, driven by continued strength in South America
• Strength in Middle East driving expansion of manufacturing capabilities (Saudi Arabia, UAE)
• Introduction of New Energy Ventures (NEV) to accelerate our role in the energy transition

Takeaways

Operating segments	Surface Technologies'	Subsea opportunity list
achieved	largest ever award, a multi-	expanded to record level of
full-year guidance	year contract from ADNOC	$20+ billion

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