SBM Offshore Completes Turritella Handover and Transaction

January 16, 2018

After an operational transition period, SBM Offshore and Shell E and P Offshore Services B.V. (Shell) have completed the transaction related to the sale of FPSO Turritella. Both companies have worked successfully together to ensure a safe and controlled handover of operations.The financial impact of this transaction on the SBM Offshore accounts remains in-line with earlier disclosures.

Corporate Profile

SBM Offshore N.V. is a listed holding company that is headquartered in Amsterdam. It holds direct and indirect interests in other companies that collectively with SBM Offshore N.V. form the SBM Offshore group ("the Company").

SBM Offshore provides floating production solutions to the offshore energy industry, over the full product life-cycle. The Company is market leading in leased floating production systems with multiple units currently in operation and has unrivalled operational experience in this field. The Company's main activities are the design, supply, installation, operation and the life extension of Floating Production, Storage and Offloading (FPSO) vessels. These are either owned and operated by SBM Offshore and leased to its clients or supplied on a turnkey sale basis.

As of December 31, 2016, Group companies employ approximately 4,750 people worldwide. Full time company employees totaling c. 4,250 are spread over five regional centers, ten operational shore bases and the offshore fleet of vessels. A further 500 are working for the joint ventures with several construction yards. For further information, please visit our website at www.sbmoffshore.com.

The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate entities. In this communication "SBM Offshore" is sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies.

The Management Board
Amsterdam, the Netherlands, January 16, 2018

Financial Calendar	Date	Year
Full-Year 2017 Earnings - Press Release	February 8	2018
Annual General Meeting of Shareholders	April 11	2018
Trading Update 1Q 2018 - Press Release	May 9	2018
Half-Year 2018 Earnings - Press Release	August 9	2018
Trading Update 3Q 2018 - Press Release	November 15	2018

Note:  date in bold was changed from May 10, 2018 before market opening to May 9, 2018 as communicated in the press release of November 8, 2017.