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1 SBM Brasil, 2016 SBM Offshore All rights reserved.

2 SBM Brasil Presentation Oil & Gas day - FEIMEC SBM Offshore All rights reserved.

3 Oil & Gas Today SBM Offshore All rights reserved.

4 Perfect Storm Oil below $40 Political situation in Brazil; Local Content politic not well implemented; Petrobras situation; 11 th and 12 th Rounds SBM Offshore All rights reserved. 4

5 Oil price has seriously deteriorated Low oil prices reduces field feasibility 11 th and 12 th Rounds SBM Offshore All rights reserved. 5

6 Actual Scenario Upstream capex inflation has raise faster than oil making field development. 11 th and 12 th Rounds SBM Offshore All rights reserved. 6

7 What if SBM Offshore All rights reserved.

8 Silver linings: political reforms & strong fundamentals Offshore production still has a future #15 amongst largest reserves in the world, representing little under 10% of global reserves 90% in Deep/Ultra Deep Waters 35-40% is producing today 15-20% has a firm plan or is under development Government Debt* not even so bad compared to some European countries who have even weaker underlying revenue model Infrastructure and social welfare are kept on the Government s investment agenda radical fiscal reforms to finance this + leveraging pension funds Jan 2016: $20Bn credit lifeline by state-run bans for different sectors Corruption being a inhibitor to productivity and economic growth engines like car manufacturing, biofuel development & massive oil reserves Slight upticks in employment rates, consumer and manufacturer's confidence in December 2015, January 2016 China stepping in Source: Trading Economics, Siemens Brazil, Financial Times, World Economic Forum *excluding garantees for state owned companies SBM Offshore All rights reserved. 8

9 Liquids: a supply and demand rebalance expected in 2018 SBM Offshore All rights reserved. 9

10 Floating production systems: still the solution of choice SBM Offshore All rights reserved. 10

11 Despite downturn, still main Worldwide FPSO Market Expected FPSO Awards Next 3 years Petrobras 5yr Business Plan Total CAPEX $220bi $98bi US$ 80bi E&P at least2 FPSO Awards within the next 3 years + Non-Petrobras at least 2FPSO awards within the next 3 years Libra P1 Sépia Marlim 1 Búzios 5 Lula Oeste Sergipe Esp. Santo Atlanta Kangaroo Pão de Açúcar Gato do Mato Xerelete Wahoo FPSO PROJECTS TO BE AWARDED ***conservative view***? SBM Offshore All rights reserved

12 SBM Vision 2025 SBM Offshore All rights reserved.

13 Building our future through our Achievements!! SBM Offshore All rights reserved. 13

14 Preparing today for tomorrow and beyond th and 12 th Rounds Product life cycle Retain talents SBM Offshore All rights reserved. 14

15 Continue to invest locally Engage the local market Understand the in-country capacity De-bottlenecking SBM Offshore All rights reserved. 15

16 We Do Believe International competitiveness Long term investment Support the country to develop the industry and people International competitiveness Know-how/competitive advantage to attend LC requirements Local suppliers frame work agreements SBM Offshore All rights reserved. 16

17

18 SBM Lease Fleet Portfolio CANADA USA End date of Lease Excluding extension options MOPU Deep Panuke Up to 2021 End date of Lease Excluding extension options Semi-Sub Thunder Hawk Up to 2025 FPSO Turritela Up to FPSOs, 2 FSOs, 1 Semi-Sub, 1 MOPU 248 years of operations Average remaining lease duration: 14.5 years MYANMAR End date of Lease Excluding extension options FSO Yetagun Up to 2018 MALAYSIA End date of Lease Excluding extension options FSO Kikeh Up to 2022 BRAZIL End date of Lease Excluding extension options FPSO MarlimSul (demob) Up to 2015 FPSO EspíritoSanto Up to 2024 FPSO Capixaba Up to 2022 FPSO Cidadede Anchieta Up to 2030 FPSO Cidadede Paraty Up to 2033 FPSO Cidadede Ilhabela Up to 2034 EQUATORIAL GUINEA End date of Lease Excluding extension options FSO Aseng Up to 2026 CONGO End date of Lease Excluding extension options LPG Nkossa II Up to 2018 FPSO Cidadede Maricá Up to 2035 FPSO Cidadede Squarema Up to 2035 FPSO Frade Turn-key FPSO P-57 Turn-key FPSO OSX-2 Turn-key Turn-key projects specifically for Brazil ANGOLA End date of Lease Excluding extension options FPSO Mondo Up to 2022 FPSO Saxi Batuque Up to 2023 FPSO N Goma Up tp 2026 Under Construction Lease in Operation Turn-Key (exclusively in Brazil FPSO Falcon FPSO Brasil Laid Up SBM Offshore All rights reserved. 18

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