Netherlands-headquartered SBM Offshore has awarded Modern American Recycling Services Europe
(M.A.R.S.) with a contract for dismantling and green recycling of one of its FPSOs.

The contract includes engineering, preparation, dismantling and green recycling of SBM Offshore's FPSO
Capixaba in Brazil.

FPSO Capixaba is 362 meters long, with a light displacement tonnage of 54.656 Mt. It is moored in 1,350 meters
of water in the Cachalote field in the Campos Basin offshore Brazil.

The FPSO is expected to arrive at M.A.R.S. Europe's yard in the Port of Frederikshavn in Denmark at the end of
this year or in early 2024.

“We are glad that SBM Offshore has chosen to retire and green recycle FPSO Capixaba at our EU-approved
Green Recycling facility in the Port of Frederikshavn, compliant with all local, national and international rules and
regulations,” M.A.R.S. Europe stated.

Speaking about other company-related news, it is worth noting that SBM Offshore recently completed the project
financing of an FPSO destined to work at the Búzios field off Brazil, for a total of $1.63 billion, secured by a
consortium of 13 international banks.

This is set to be the largest oil-producing unit operating offshore Brazil and one of the largest in the world, based
on previous data. The FPSO will work for Petrobras.