SBM Offshore signs Share Purchase Agreement with GEPetrol

Rhea-AI Summary

SBM Offshore (SBFFF) has announced the signing of a Share Purchase Agreement to fully divest its equity interest in the FPSO Aseng lease and operating entities to GEPetrol in Equatorial Guinea. The operational transition phase will last up to 12 months, after which SBM Offshore will complete its exit from Equatorial Guinea. This divestment aligns with the company's strategy to streamline its Lease & Operate portfolio. The agreement is subject to various conditions precedent and approvals. SBM Offshore, recognized as a global leader in deepwater ocean-infrastructure, employs over 7,800 people worldwide and focuses on delivering cleaner energy production solutions while expanding into new blue economy markets.

Positive

• Strategic portfolio optimization through divestment of FPSO Aseng assets
• Alignment with company's broader strategy to rationalize Lease & Operate portfolio
• Structured transition period of up to 12 months ensures operational continuity

Negative

• Exit from Equatorial Guinea market reduces geographical diversification
• Transaction subject to various conditions and approvals, creating execution uncertainty

Amsterdam, June 4, 2025

SBM Offshore announces it has signed a Share Purchase Agreement for the full divestment of SBM Offshore’s equity interest in the lease and operating entities of the FPSO Aseng to GEPetrol. The Company’s exit from Equatorial Guinea will take place following an operational transition phase lasting up to 12 months.

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.

The agreement remains subject to several conditions precedent and approvals.

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
Half Year 2025 Earnings		August 7	2025
Third Quarter 2025 Trading Update		November 13	2025
Full Year 2025 Earnings		February 26	2026
Annual General Meeting		April 15	2026
First Quarter 2026 Trading Update		May 7	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 2024 Annual Report, available on our website Annual Reports - 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^®”, “emissionZERO^®” and “F4W^®” are proprietary marks owned by SBM Offshore.

Attachment

• SBM Offshore signs Share Purchase Agreement with GEPetrol

FAQ

What is the purpose of SBM Offshore's (SBFFF) Share Purchase Agreement with GEPetrol?

The agreement is for the full divestment of SBM Offshore's equity interest in the lease and operating entities of the FPSO Aseng to GEPetrol, aligning with their strategy to rationalize their Lease & Operate portfolio.

How long will the operational transition phase last for SBFFF's Equatorial Guinea exit?

The operational transition phase will last up to 12 months before SBM Offshore completes its exit from Equatorial Guinea.

What conditions need to be met for the SBM Offshore-GEPetrol agreement to be completed?

The agreement remains subject to several conditions precedent and approvals, though specific details were not disclosed in the press release.

How does this divestment align with SBM Offshore's corporate strategy?

The sale aligns with SBM Offshore's strategy to rationalize its Lease & Operate portfolio, following similar recent transactions to optimize their operations.

What is SBM Offshore's current global presence and focus?

SBM Offshore is a deepwater ocean-infrastructure expert with over 7,800 employees worldwide, focusing on cleaner energy production and expanding into blue economy markets.