3.2.1Corporate Governance Structure

SBM Offshore N.V. is a limited liability company (Naamloze Vennootschap) incorporated under the laws of the Netherlands with its corporate seat in Amsterdam. The Company is listed on Euronext Amsterdam. The Company has a two-tier board consisting of a Supervisory Board and a Management Board. Each board has its specific roles and tasks regulated by laws, the articles of association, the Corporate Governance Code, the Supervisory Board rules and Management Board rules. The Management Board rules and Supervisory Board rules contain details on the ways of working of the Management Board and the Supervisory Board and were last amended in November 2019 by adding the Related Party Transaction Policy as an additional schedule to the both set of rules. Both sets of rules are published on the Company’s website, together with the articles of association.