SBM Offshore completes the Share Purchase Agreement with GEPetrol

Rhea-AI Summary

SBM Offshore (OTC:SBFFF) confirms completion of the Share Purchase Agreement with GEPetrol dated June 4, 2025, for the full divestment of SBM Offshore’s equity interest in the lease and operating entities of the FPSO Aseng in Equatorial Guinea.

The sale supports SBM Offshore’s strategy to rationalize its Lease & Operate portfolio and follows other recent portfolio transactions. Contact and calendar details, upcoming 2026 reporting dates, and Market Abuse Regulation and forward-looking statement disclaimers are included.

Positive

• Completed full divestment of FPSO Aseng equity interest to GEPetrol
• Transaction aligns with portfolio rationalization strategy
• Simplifies Lease & Operate portfolio exposure in Equatorial Guinea

Negative

• Divestment removes future lease and operating cash flows from the FPSO Aseng asset

Key Figures

Employees More than 7,800 Global SBM Offshore workforce

Full Year 2025 Earnings February 26, 2026 Scheduled financial calendar event

Annual General Meeting April 15, 2026 Scheduled shareholder meeting

Q1 2026 Trading Update May 7, 2026 Scheduled trading update

Half Year 2026 Earnings August 6, 2026 Scheduled earnings release

Q3 2026 Trading Update November 12, 2026 Scheduled trading update

Investor Relations phone +31 (0)20 236 32 36 Investor Relations contact

Media Relations phone +31 (0)6 212 62 333 / +39 33 494 79 584 Media Relations contact

Market Reality Check

$28.28 Last Close

Volume Volume 500 is below the 20-day average of 1,174, suggesting modest pre-news activity. low

Technical Price at 28.2804 is above the 200-day MA of 15.84 and at the 52-week high.

Peers on Argus

SBFFF gained 8.77% while key peers were mixed: SBFFY -0.18%, WYGPY 0%, AKRYY 0%, MTTRF +0.33%, TOLWF -2.17%, indicating a stock-specific move.

Market Pulse Summary

This announcement confirms SBM Offshore’s completion of the Share Purchase Agreement for full divestment of its equity interest in the FPSO Aseng lease and operating entities to GEPetrol, consistent with its portfolio rationalization strategy. SBFFF was trading at a 52-week high of 28.2804 and above its 200-day MA of 15.84 beforehand. Investors may monitor upcoming dates such as the February 26, 2026 Full Year 2025 earnings and subsequent 2026 updates for further clarity on capital allocation and growth plans.

Key Terms

share purchase agreement financial

"completed the transaction related to the Share Purchase Agreement announced on June 4, 2025"

A share purchase agreement is a written contract that outlines the terms and conditions for buying and selling shares of a company. It specifies details like the price, number of shares, and any special conditions, ensuring both buyer and seller agree on the transaction. For investors, it provides clarity and legal protection, making sure the purchase is clear and enforceable.

fpso technical

"lease and operating entities of the FPSO Aseng to GEPetrol"

A FPSO (Floating Production, Storage and Offloading unit) is a ship-like facility that sits offshore to process oil or gas pumped up from under the seabed, store the product, and transfer it to tankers or pipelines. For investors it matters because an FPSO turns remote reserves into cash: it represents a major capital asset and source of revenue but also concentrates operational, maintenance and safety risks that can affect production levels, costs and company valuation.

market abuse regulation regulatory

"inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation"

Market abuse regulation consists of laws and rules designed to prevent dishonest or manipulative practices in financial markets. It aims to ensure fair and transparent trading, so investors can trust that markets operate honestly, much like rules that keep a game fair. By reducing unfair advantages, it helps protect investor confidence and promotes healthy, efficient markets.

forward-looking statements regulatory

"statements of future expectations and other forward-looking statements based on management’s current views"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

alternative performance measures financial

"contains certain alternative performance measures (APMs) as defined by the ESMA guidelines"

Alternative performance measures are financial figures companies present alongside official accounting numbers that strip out certain costs or gains to highlight how management views underlying business trends. Think of it like a cook showing a recipe’s calories without the sauce to emphasize the main ingredients; investors use these adjusted numbers to compare performance and spot trends, but they can vary by company and require careful scrutiny to avoid misleading comparisons.

ifrs financial

"APMs as defined by the ESMA guidelines which are not defined under IFRS"

International Financial Reporting Standards (IFRS) are a set of common accounting rules used by many companies worldwide to prepare financial statements, so numbers like revenue, profit and assets are measured in the same way across borders. For investors, IFRS matters because it makes it easier to compare the financial health and performance of different companies—like using the same ruler to measure different objects—reducing surprises and helping informed investment decisions.

esma regulatory

"alternative performance measures (APMs) as defined by the ESMA guidelines"

The European Securities and Markets Authority (ESMA) is the EU agency that sets rules and supervises fairness and transparency for financial markets across Europe. Think of it as a referee and rule-maker who aims to protect investors, reduce market abuse, and ensure companies and exchanges follow consistent standards; its guidance can affect trading rules, disclosure requirements, and investor confidence, which in turn can influence stock prices and capital flows.

AI-generated analysis. Not financial advice.

Amsterdam, December 17, 2025

SBM Offshore confirms it has completed the transaction related to the Share Purchase Agreement announced on June 4, 2025, for the full divestment of SBM Offshore’s equity interest in the lease and operating entities of the FPSO Aseng to GEPetrol.

SBM Offshore’s sale of its participation in the unit in Equatorial Guinea is in line with its strategy to rationalize its Lease & Operate portfolio, as per other recent transactions.

Corporate Profile

SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy. 
More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.
For further information, please visit our website at www.sbmoffshore.com.

Financial Calendar		Date	Year
Full Year 2025 Earnings		February 26	2026
Annual General Meeting		April 15	2026
First Quarter 2026 Trading Update		May 7	2026
Half Year 2026 Earnings		August 6	2026
Third Quarter 2026 Trading Update		November 12	2026

For further information, please contact:

Investor Relations

Wouter Holties
Corporate Finance & Investor Relations Manager

Phone:	+31 (0)20 236 32 36
E-mail:	wouter.holties@sbmoffshore.com
Website:	www.sbmoffshore.com

Media Relations

Giampaolo Arghittu
Head of External Relations

Phone:	+31 (0)6 212 62 333 / +39 33 494 79 584
E-mail:	giampaolo.arghittu@sbmoffshore.com
Website:	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 / or 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 ‘Impacts, Risks and Opportunities’ section of the 2024 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.

This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half Year Management Report accompanying the Half Year Earnings 2025 report, available on our website Half Year Earnings - SBM Offshore.

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^®” and “F4W^®” are proprietary marks owned by SBM Offshore.

Attachment

• SBM Offshore completes the Share Purchase Agreement with GEPetrol

FAQ

What did SBM Offshore (SBFFF) announce on December 17, 2025 about FPSO Aseng?

SBM Offshore announced completion of the sale of its equity interest in the lease and operating entities of FPSO Aseng to GEPetrol.

How does the SBFFF sale of FPSO Aseng fit the company's strategy?

The company said the divestment is in line with its strategy to rationalize the Lease & Operate portfolio.

When was the Share Purchase Agreement for SBFFF's FPSO Aseng originally announced?

The Share Purchase Agreement was announced on June 4, 2025.

Will the SBFFF press release affect upcoming financial reporting dates?

The release lists upcoming 2026 reporting dates, including Full Year 2025 Earnings on February 26, 2026.

Who should investors contact for more information about SBFFF's transaction?

Investor Relations contact is Wouter Holties, Corporate Finance & Investor Relations Manager, reachable via the phone and e-mail listed in the release.