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CONFIRMATION OF THE SETTLEMENT REGARDING ALLEGATIONS AGAINST CEO AND MEMBER OF THE SUPERVISORY BOARD

SCHIEDAM, Netherlands, April 6, 2016 (GLOBE NEWSWIRE) -- In its press release of January 25, 2016, SBM Offshore disclosed that CEO Bruno Chabas and Supervisory Board member Sietze Hepkema had decided to accept the Public Prosecutor's proposal for an out-of-court settlement, on a no admission of guilt basis, of the allegations made against them on December 17, 2015. The settlement was still subject to confirmation by the judge handling the case.

The Company has now been informed that the judge has confirmed the settlement, effective April 4, 2016.

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.

Group companies employ approximately 7,000 people worldwide. Full time company employees totaling 4,900 are spread over five regional centres, eleven operational shore bases and the offshore fleet of vessels. A further 2,100 are working for the joint ventures with several construction yards. 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, April 6, 2016

Financial Calendar Date Year
Annual General Meeting of Shareholders April 6 2016
Trading Update 1Q 2016 - Press Release May 11 2016
Half-Year 2016 Earnings - Press Release August 10 2016
Trading Update 3Q 2016 - Press Release November 9 2016

For further information, please contact:

Investor Relations Nicolas D. Robert Head of Investor Relations

Telephone: +31 (0) 20 2363 126
Mobile: +31 (0) 6 5461 2410
E-mail: nicolas.robert@sbmoffshore.com
Website: www.sbmoffshore.com

Media Relations
Vincent Kempkes
Head of Communications

Telephone: +31 (0) 20 2363 170
Mobile: +31 (0) 6 25 68 71 67
E-mail: vincent.kempkes@sbmoffshore.com
Website: www.sbmoffshore.com

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. 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.

CONFIRMATION OF THE SETTLEMENT REGARDING ALLEGATIONS AGAINST CEO AND MEMBER OF THE SUPERVISORY BOARD http://hugin.info/130754/R/2000885/738193.pdf

HUG#2000885

Source: SBM Offshore N.V.