Parent Company Guarantees

SBM Offshore N.V., as the parent company, is committed to fulfill various types of obligations arising from customer contracts, such as full performance and warranty obligations.

In the past, the parent company has issued guarantees for contractual obligations in respect of several Group companies, including equity-accounted joint ventures, with respect to long-term lease and operate contracts. The few remaining guarantees still active as of December 31, 2020 relate to the Deep Panuke MOPU unit, Thunder Hawk semi-submersible platform and FPSO Saxi Batuque, and have all been signed prior to 2010.