June 11, 2024
SBM Offshore is pleased to announce that it has completed the acquisition of the
shares in the lease and operating entities related to FPSOs N'Goma, Saxi Batuque
and Mondo from its partner Sonangol EP. Simultaneously, SBM Offshore completed the sale of all its shares in the parent company of the Paenal shipyard in Angola to a subsidiary of Sonangol EP.
The acquisition of the shares from Sonangol EP brings SBM Offshore's ownership in the entities owning the FPSOs Saxi Batuque and Mondo to 100% and in the entity owning the FPSO N'Goma to 80%. The operating companies in Angola will be wholly owned by SBM Offshore after the acquisition. The total net consideration paid for the equity ownership of the acquired entities by SBM Offshore and including the sale of the parent company of the Paenal shipyard is approximately
US$40 million.
In addition, SBM Offshore has signed an MOU with its minority partner (Angola Offshore Services Limited, "AOSL") in the FPSO N'Goma concerning the purchase by
AOSL of 20% of SBM Offshore's shareholding (80%) in the entity owning the FPSO. This MOU is conditional on the signature of a share purchase agreement and upon several conditions precedent, including consent from clients and lenders, and approval by the various competent authorities.
Through this transaction, SBM Offshore is reorganizing its business in Angola, focusing on core lease and operate activities and divesting a non-core construction yard.
Corporate Profile
SBM Offshore designs, builds, installs and operates offshore floating facilities
for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for alternative energy sources.
More than 7,400 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.
For further information, please visit our website at www.sbmoffshore.com (http://www.sbmoffshore.com).
Financial Calendar Date Year
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  Half Year 2024 Earnings                    August 8   2024
  Third Quarter 2024 Trading Update       November 14   2024
  Full Year 2024 Earnings                 February 20   2025
  Annual General Meeting                      April 9   2025
  First Quarter 2025 Trading Update            May 15   2025

For further information, please contact:
Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager

 Mobile:  +31 (0) 20 236 32 36
          wouter.holties@sbmoffshore.com
 E-mail:  (mailto:wouter.holties@sbmoffshore.com)

Website: www.sbmoffshore.com (http://www.sbmoffshore.com)
Media Relations
Evelyn Tachau Brown
Group Communications & Change Director

 Mobile:  +377 (0) 6 40 62 30 34
          evelyn.tachau-brown@sbmoffshore.com            (mailto:evelyn.tachau-
 E-mail:  brown@sbmoffshore.com)

Website: www.sbmoffshore.com (http://www.sbmoffshore.com)
Market Abuse Regulation
This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Disclaimer
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. These statements may be identified by words such as 'expect', 'should', 'could', 'shall' and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the 'Impact, Risk and Opportunity Management'
section of the 2023 Annual Report.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company's business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore 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 new information, subsequent events or otherwise.
Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release "SBM Offshore" and "SBM" are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
"SBM Offshore(®)", the SBM logomark, "Fast4Ward(®)", "emissionZERO(®)" and "Float4Wind(®)" are proprietary marks owned by SBM Offshore.
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