Weekly share repurchase program transaction details

Rhea-AI Summary

SBM Offshore (SBFFF) reported details of its EUR130 million share repurchase program for August 29 to September 4, 2024. The program, initially announced on February 29, 2024, for EUR65 million and increased by EUR65 million on August 8, 2024, aims to reduce share capital and provide shares for employee programs. As of September 4, 2024, the company has:

- Repurchased 3,130,934 shares
- Spent EUR 45,540,197
- Achieved an average repurchase price of EUR 14.55
- Completed 35.03% of the program

In the last 5 trading days, SBM Offshore repurchased 181,859 shares at an average price of EUR 16.82, totaling EUR 3,058,211. All shares were purchased via Euronext Amsterdam, CBOE DXE, and Turquoise.

Positive

• Ongoing share repurchase program of EUR130 million demonstrates confidence in company's financial position
• 35.03% of the repurchase program completed, showing steady progress
• Average repurchase price of EUR 14.55 potentially indicates value creation for remaining shareholders

Negative

• Significant cash outlay of EUR 45,540,197 for share repurchases may impact available funds for other investments or operations

September 4, 2024

SBM Offshore reports the transaction details related to its EUR130 million (c. US$140 million) share repurchase program for the period August 29, 2024 through September 4, 2024.

The repurchases were made under the EUR65 million share repurchase program announced on February 29, 2024, effective from March 1, 2024 and increased by EUR65 million as announced on August 8, 2024. The objective of the program is to reduce share capital and, in addition, to provide shares for regular management and employee share programs. Information regarding the progress of the share repurchase program and the aggregate of the transactions (calculated on a daily basis) for the period March 1, 2024 through September 4, 2024 can be found in the top half of the table below. Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investors section of the Company’s website.

Share Repurchase Program
Overall progress Share Repurchase Program:
Total Repurchase Amount					EUR 130,000,000
Cumulative Repurchase Amount					EUR 45,540,197
Cumulative Quantity Repurchased					3,130,934
Cumulative Average Repurchase Price					EUR 14.55
Start Date					March 1, 2024
Percentage of program completed as of September 4, 2024					35.03%
Overview of details of last 5 trading days:
Trade Date	Quantity Repurchased		Average Purchase Price		Settlement Amount
August 29, 2024	26,633		EUR 16.91		EUR 450,372
August 30, 2024	29,805		EUR 17.05		EUR 508,178
September 2, 2024	29,823		EUR 16.95		EUR 505,539
September 3, 2024	47,431		EUR 16.75		EUR 794,578
September 4, 2024	48,167		EUR 16.60		EUR 799,543
Total	181,859		EUR 16.82		EUR 3,058,211

¹All shares purchased via Euronext Amsterdam, CBOE DXE and or Turquoise

This press release contains information which is to be made publicly available under the Market Abuse Regulation (nr. 596/2014). The information concerns a regular update of the transactions conducted under SBM Offshore’s current share repurchase program, as announced by the Company on February 29, 2024 and August 8, 2024, details of which are available on its website.

Corporate Profile

SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for alternative energy sources.

More than 7,400 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.

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

Financial Calendar		Date	Year
Third Quarter 2024 Trading Update		November 14	2024
Full Year 2024 Earnings		February 20	2025
Annual General Meeting		April 9	2025
First Quarter 2025 Trading Update		May 15	2025
Half Year 2025 Earnings		August 7	2025

For further information, please contact:

Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager

Mobile:	+31 (0) 2 02 36 32 36
E-mail:	wouter.holties@sbmoffshore.com
Website:	www.sbmoffshore.com

Media Relations

Evelyn Tachau Brown
Group Communications & Change Director

Mobile:	+377 (0) 6 40 62 30 34
E-mail:	evelyn.tachau-brown@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 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 ‘Impact, Risk and Opportunity Management’ section of the 2023 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 2024 report, available on our website https://www.sbmoffshore.com/investors/financial-disclosures.

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

• Press Release Week 35 & 36 - August 29 to September 4, 2024

FAQ

What is the total value of SBM Offshore's (SBFFF) current share repurchase program?

SBM Offshore's (SBFFF) current share repurchase program has a total value of EUR130 million (approximately US$140 million).

When did SBM Offshore (SBFFF) announce the increase in its share repurchase program?

SBM Offshore (SBFFF) announced an increase of EUR65 million to its share repurchase program on August 8, 2024.

How many shares has SBM Offshore (SBFFF) repurchased as of September 4, 2024?

As of September 4, 2024, SBM Offshore (SBFFF) has repurchased 3,130,934 shares under its current program.

What is the average repurchase price per share for SBM Offshore's (SBFFF) buyback program?

The cumulative average repurchase price for SBM Offshore's (SBFFF) buyback program is EUR 14.55 per share.