SBM OFFSHORE : N.V. CFO to stand down at the end of the term

Press release - SBM Offshore N.V. January 24, 2012 SBM OFFSHORE N.V. CFO TO STAND DOWN AT END OF TERM

Mr Mark Miles and the Supervisory Board have mutually agreed that he will not stand for re-election at the next AGM on 16 May 2012.
The Supervisory Board will take steps to arrange for Mr Miles' succession. Until such time Mr Miles has agreed to continue as CFO of the Company.
The Supervisory Board and the Board of Management wish to thank Mr Miles for his valuable contribution.

2. Financial Agenda

Full-year Results 2011 - Press Release (07.30 CET)
Full-year Results 2011 - Analysts Presentation (Amsterdam)
Publication Annual Report and Agenda Annual General Meeting of Shareholders
Trading Update Q1 2012 - Press Release (07.30 CET) Annual General Meeting of Shareholders (Rotterdam) Half-year Results 2012 - Press Release (07.30 CET)
Half-year Results 2012 - Analysts Presentation (Amsterdam)
Trading Update Q3 2012 - Press Release (07.30 CET)

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3. Corporate Profile

Dutch limited liability company SBM Offshore N.V. is the holding company of a group of international, marine technology orientated companies. Its business is to serve on a global basis the offshore oil and gas industry by supplying engineered products, vessels and systems, and offshore oil and gas production services.
The product line comprises:
Offshore import/export terminals for crude oil, refined products, LPG and LNG, mostly based on the single point mooring principle, Floating Production and/or Storage and Offloading systems (FSOs and FPSOs) and other floating production facilities based on ship hulls, semi-submersibles and Tension Leg Platforms (TLPs);
Offshore oil and gas production services through the leasing of integrated production and storage facilities owned and operated by SBM Offshore;
Design, construction and supply of semi-submersible drilling platforms;
Special designs and engineering services and delivery of specific hardware components for dynamically positioned drillships, semi-submersible drilling platforms, jack-up drilling platforms, jack-up platforms for civil construction, large capacity offshore cranes, elevating and lifting systems, crane vessels and other specialised work vessels;
Offshore construction and installation contracting services.
The Board of Management Schiedam, 24 January 2012

For further information:

SBM Offshore N.V. Karel Doormanweg 66
3115 JD Schiedam

Post address: P.O. Box 31

3100 AA Schiedam
The Netherlands

Contact person: Mr. Sebastiaan de Ronde Bresser

Telephone: [phone]
Mobile: [phone]
Fax: [phone]
E-mail: [e-mail]
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 materialise, 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.

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