DISCLAIMER
NOTES TO THE READER
This document is the printed/pdf or ‘website version’ and is not the official annual financial reporting, including the audited financial statements thereto pursuant to article 2:361 of the Dutch Civil Code. The official annual financial reporting, including the audited financial statements and the independent auditor’s report thereto, are included in the single report package (‘ESEF package’) which can be found in the download center of the 2025 Annual Report website. In case of any discrepancies between this document and the ESEF package, the latter prevails. Note that the independent auditor’s opinion included in this document does not relate to this document but only to the ESEF package. No rights can be derived from using this document, including the unofficial copy of the independent auditor’s report. Our independent auditor did not determine (nor do they need to) that the printed/pdf or website version is identical to the official version.
This document is the printed/pdf or ‘website version’ and is not the official annual financial reporting, including the audited financial statements thereto pursuant to article 2:361 of the Dutch Civil Code. The official annual financial reporting, including the audited financial statements and the independent auditor’s report thereto, are included in the single report package (‘ESEF package’) which can be found in the download center of the 2025 Annual Report website. In case of any discrepancies between this document and the ESEF package, the latter prevails. Note that the independent auditor’s opinion included in this document does not relate to this document but only to the ESEF package. No rights can be derived from using this document, including the unofficial copy of the independent auditor’s report. Our independent auditor did not determine (nor do they need to) that the printed/pdf or website version is identical to the official version.
MANAGEMENT REPORT
The management report (‘bestuursverslag’) within the meaning of section 2:391 of the Dutch Civil Code comprises of the chapters Business Environment, Governance (excluding the Report of the Supervisory Board and the Remuneration Report), and Sustainability Statement and section 4.1 of the chapter Financial Information.
The management report (‘bestuursverslag’) within the meaning of section 2:391 of the Dutch Civil Code comprises of the chapters Business Environment, Governance (excluding the Report of the Supervisory Board and the Remuneration Report), and Sustainability Statement and section 4.1 of the chapter Financial Information.
FORWARD-LOOKING STATEMENTS AND DATA LIMITATIONS
Some of the statements contained in this report that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views, expectations and various assumptions regarding the financial and non-financial position of SBM Offshore N.V., anticipated developments and other factors, and involve known and unknown risks, dependencies 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 & Opportunities’ section of this 2025 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 report. SBM Offshore N.V. does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this report to reflect new information, subsequent events or otherwise.
Some of the statements contained in this report that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views, expectations and various assumptions regarding the financial and non-financial position of SBM Offshore N.V., anticipated developments and other factors, and involve known and unknown risks, dependencies 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 & Opportunities’ section of this 2025 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 report. SBM Offshore N.V. does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this report to reflect new information, subsequent events or otherwise.
Data underpinning certain disclosures—particularly those in the Sustainability Statement—may be subject to inherent limitations. These limitations include but are not limited to reliance on third‑party data providers whose data quality, completeness and integrity may differ; the use of estimates and assumptions where actual data is unavailable or incomplete; and dependencies on value‑chain partners for timely and accurate information provision. Methodologies, standards and regulatory requirements for measuring and reporting information—especially sustainability‑related information—continue to evolve. As a result, our measurement approaches and reported figures may be refined over time as more accurate, granular or standardised data becomes available. Accordingly, all data, and emissions data in particular, should be interpreted in light of these limitations and the ongoing maturation of sustainability reporting practices across our value chain.