Reference is made in respect of a rights issue which SBM Offshore intends to launch. Subject to approval by the annual general meeting of shareholders of SBM Offshore on 2 April 2013, a prospectus for the rights issue will be issued shortly after that date. In the prospectus, SBM Offshore will give an update on the initial feedback of the investigation into potentially improper sales practices announced on 10 April 2012.

This investigation commenced in 2012 at the request of SBM Offshore into alleged payments involving sales intermediaries in certain African countries in the period 2007 through 2011, in order to determine whether these alleged payments violated anti-corruption laws. These alleged payments came to the attention of the management board after a review of SBM Offshore's compliance procedures in late 2011. In the course of the investigation allegations were made of improper payments in countries outside Africa but to date no conclusive proof of such allegations has been established.

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