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Conclusion of legacy issue in Switzerland

·4-min read

November 23, 2021

In November 2020, the Company communicated that three of the Company’s subsidiaries in Switzerland received a notification from the Bundesanwaltschaft (Public Prosecutor Office) in Bern. It concerned a suspicion that from 2005 till 2012 these subsidiaries failed to take all reasonable and necessary organisational measures to prevent the commission of acts of active bribery of foreign public officials during said period.

On this matter, the Swiss public prosecutor has now issued an investigation termination order and a criminal penalty order against the three Swiss subsidiaries, requiring them to pay a total amount of 7.0 million CHF (c. USD 7.6 million).

Erik Lagendijk, Chief Governance and Compliance Officer said: “The fact pattern and compliance shortcomings prior to 2012 that led to the Swiss penalty are also covered by the legacy resolutions the Company concluded in the Netherlands (2014), the United States (2017), and Brazil (2018). The termination of the investigation and penalty now also close this old issue in Switzerland on a full and final basis. Today and for many years now, the Company has been implementing substantial measures to ensure that it operates with integrity and fully in line with laws, regulations and with its compliance standards. These measures were also recognised by the Swiss Public Prosecutor Office.”

Corporate Profile

The Company’s main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry over the full lifecycle. The Company is market leading in leased floating production systems, with multiple units currently in operation.

As of December 31, 2020, the Company employs approximately 4,570 people worldwide spread over offices in our key markets, operational shore bases and the offshore fleet of vessels.

SBM Offshore N.V. is a listed holding company headquartered in Amsterdam, the Netherlands. It holds direct and indirect interests in other companies.

Where references are made to SBM Offshore N.V. and /or its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies “SBM Offshore” or “the Company” are sometimes used for convenience.

For further information, please visit our website at www.sbmoffshore.com.

The Management Board
Amsterdam, the Netherlands, November 23, 2021

Financial Calendar

Date

Year

Full Year 2021 Earnings

February 10

2022

Annual General Meeting

April 6

2022

First Quarter 2022 Trading Update

May 12

2022

Half Year 2022 Earnings

August 4

2022

Third Quarter 2022 Trading Update

November 10

2022


For further information, please contact:

Investor Relations
Bert-Jaap Dijkstra
Group Treasurer and IR

Mobile:

+31 (0) 6 21 14 10 17

E-mail:

bertjaap.dijkstra@sbmoffshore.com

Website:

www.sbmoffshore.com

Media Relations
Vincent Kempkes
Group Communications Director

Mobile:

+377 (0) 6 40 62 87 35

E-mail:

vincent.kempkes@sbmoffshore.com

Website:

www.sbmoffshore.com

Disclaimer

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. 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. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company’s business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would be”, “expects” or “anticipates” or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV 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 subsequent events or circumstances. Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.

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