Strategic Rationale for Tidewater's Acquisition of SPO Fleet
Forward-looking Statements
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In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Tidewater Inc. (the "Company") notes that
certain statements set forth in this presentation contain certain forward-looking statements which reflect our current view with respect to future
events and future financial performance. Forward-looking statements are all statements other than statements of historical fact. All such forward-
looking statements are subject to risks and uncertainties, many of which are beyond the control of the Company, and our future results of operations
could differ materially from our historical results or current expectations reflected by such forward-looking statements.
These risks and uncertainties include, without limitation: the risks related to fluctuations in worldwide energy demand and oil and natural gas prices, and
continuing depressed levels of oil and natural gas prices without a clear indication of if, or when, prices will recover to a level to support renewed offshore
exploration activities; fleet additions by competitors and industry overcapacity; our limited capital resources available to replenish our asset base as needed,
including through acquisitions or vessel construction, and to fund our capital expenditure needs; uncertainty of global financial market conditions and potential
constraints in accessing capital or credit if and when needed with favorable terms, if at all; changes in decisions and capital spending by customers in the energy
industry and the industry expectations for offshore exploration, field development and production; consolidation of our customer base; loss of a major customer;
changing customer demands for vessel specifications, which may make some of our older vessels technologically obsolete for certain customer projects or in
certain markets; rapid technological changes; delays and other problems associated with vessel maintenance; the continued availability of qualified personnel
and our ability to attract and retain them; the operating risks normally incident to our lines of business, including the potential impact of liquidated counterparties;
our ability to comply with covenants in our indentures and other debt instruments; acts of terrorism and piracy; the impact of regional or global public health
crises or pandemics; the impact of potential information technology, cybersecurity or data security breaches; integration of acquired businesses and entry into
new lines of business; disagreements with our joint venture partners; natural disasters or significant weather conditions; unsettled political conditions, war, civil
unrest and governmental actions, such as expropriation or enforcement of customs or other laws that are not well developed or consistently enforced; the risks
associated with our international operations, including local content, local currency or similar requirements especially in higher political risk countries where we
operate; interest rate and foreign currency fluctuations; labor changes proposed by international conventions; increased regulatory burdens and oversight;
changes in laws governing the taxation of foreign source income; retention of skilled workers; enforcement of laws related to the environment, labor and foreign
corrupt practices; the potential liability for remedial actions or assessments under existing or future environmental regulations or litigation; the effects of asserted
and unasserted claims and the extent of available insurance coverage; and the resolution of pending legal proceedings. The forward-looking statements should
be considered in the context of the risk factors listed above and those discussed in the Annual Report on Form 10-K for the year ended December 31, 2020, filed
by the Company with the U.S. Securities and Exchange Commission ("SEC") on March 4, 2021, as updated by subsequent filings with the SEC. Investors and
prospective investors are cautioned not to rely unduly on such forward-looking statements, which speak only as of the date hereof.
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