Investor Presentaiton

Source: Barclays NPV gain (in US$ million) SBM OFFSHORE Time is Money Oll Company IRR 50% 40% Time to First Oil Scenarios¹ FAST WARD TM 30% 20% 10% 1 yr gain On time delivery Fast4Ward™ accelerates first oil up to 12 months 1 yr delay 2 yr delay 3 yr delay Up to US$1 billion NPV gain 0% 30 40 50 60 70 80 90 100 110 120 US$/bbl NPV impact 12 months acceleration to 1st Oil1 Every 1 year acceleration improves break-even up to US$10 per barrel (IRR 15%) 1,500 1,106 899 1,000 699 489 500 290 30 50 70 US$/bbl 90 110 (1) Based on Barclays model, reflects major world-class greenfield development © SBM Offshore 2018. All rights reserved. www.sbmoffshore.com Major client gains 14

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