Oceaneering’s Integrity Management and Digital Solutions Segment Announces Fourth Quarter 2021 Contracts Exceeding $80 Million

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January 6, 2021 – Houston, Texas – Oceaneering International, Inc. announces that it has been awarded multiple contracts for its Integrity Management and Digital Solutions (IMDS) segment with over $80 million booked in the fourth quarter of 2021. The majority of these bookings, which are primarily with major offshore operators, represent renewals of existing agreements, with durations ranging from one to four years.

The scopes of work for these contracts include risk, reliability and maintenance engineering services, inspection services for onshore and offshore projects, and energy and maritime intelligence software services. The sites covered by these contracts include ports & terminals, nuclear power plants, LNG terminals, oil & gas production facilities, and bulk cargo vessels, primarily in Australia, Norway, UK, and Brazil.

These fourth quarter bookings also complete a successful year for IMDS, in which more than $300 million in new bookings were obtained. This level of bookings provides significant support to Oceaneering’s expectation for continued growth of value-based solutions within its IMDS businesses in 2022.

Rod Larson, President and Chief Executive Officer, stated, “Recognition of the quality in Oceaneering’s IMDS brand continues, as evidenced by the fourth quarter and full year 2021 awards. Our value proposition allows customers to make timely and evidence-based decisions derived from our integrated service offerings of advanced asset integrity and data analytics. These new bookings increase our confidence for continued growth in this segment, which is integral to achieving our previously guided EBITDA expectations for 2022. I am proud of Kishore Sundararajan, Senior Vice President of IMDS, and his entire team for the hard work they are doing to grow and transform this segment of our company.”

This release contains “forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements as to the expectations, beliefs, future expected business and financial performance and prospects of Oceaneering. More specifically, the forward-looking statements in this press release include the statements concerning: the dollar amounts of the fourth quarter and full year of 2021 contract bookings by Oceaneering’s IMDS segment, to the extent such bookings may be an indicator of future revenue, profitability or cash flows; the durations of contracts; Oceaneering’s expectation for continued growth of value-based solutions within its IMDS businesses in 2022; and Oceaneering’s confidence with respect to that expectation, which is integral to achieving its previously guided EBITDA expectations for 2022. The forward-looking statements included in this release are based on Oceaneering’s current expectations and are subject to certain risks, assumptions, trends, and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements. These include, among other factors, risks and uncertainties related to counterparty performance under contracts and market conditions and other economic factors affecting Oceaneering’s business. For a more complete discussion of these and other risk factors, please see Oceaneering’s latest annual report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements. Except to the extent required by applicable law, Oceaneering undertakes no obligation to update or revise any forward-looking statement.

Oceaneering is a global provider of engineered services and products, primarily to the offshore energy industry. Through the use of its applied technology expertise, Oceaneering also serves the defense, aerospace, robotic, and entertainment industries.

For more information on Oceaneering and our IMDS group, please visit www.oceaneering.com/asset-integrity.

Articles To solve the unsolvable, Oceaneering seeks out the utmost experts in their respective fields. We provide engineered services and products primarily to the offshore energy industry. Today, we also use applied technology expertise to serve the defense, entertainment, material handling, aerospace, science, and renewable energy industries. With a varied and diverse pool of expertise, Oceaneering strives to be the go-to thoughtleader in our wide-ranging on- and offshore service lines. We thrive by creating industry-changing technically creative solutions for the most complex operational challenges under water, on land, and in space. Our experts are sought out for their knowledge and experience, to shed light on the latest innovative technology and trends within the wide-ranging industries we serve. Our experts are able to speak to these subjects because they are out in the field, working shoulder-to-shoulder with our clients and associated contractors. They work closely to devise solutions to problems that couldn’t be solved otherwise. We demonstrate our value every day, striving to complete projects on-time and on-budget. Our experts have penned thousands of words on topics related to remotely operated vehicles, subsea hardware, asset integrity, flow assurance, diving, survey and mapping, vessels, well intervention, workover control systems, pipeline repair, inspection, non-destructive testing, decommissioning, renewables, umbilicals, valves, marine services, product testing and qualification, data management, vessel navigation and positioning systems, science and other research, and space systems. Our articles section shines a spotlight on our best and brightest thoughtleaders offering history, data, case studies, and even opinions on industry trends and service techniques, so that we may open a dialogue with the rest of the industry, in order to see how we can all better ourselves and come up with the latest solutions and processes yet to be created. We partner with industry publications and other newsmakers to help tell our story and those of our clients because we aim to not only solve the unsolvable but demonstrate our value and expertise as a company, every single day. We do this work with much importance placed on safety, because safety is instilled in every worker, in every region in which we do business.

Company page Since our founding in the early 1960s, Oceaneering has expanded and grown globally to service several industries such as the offshore energy industry, defense, entertainment, material handling, aerospace, science, and renewable energy industries. In 1964, Mike Hughes and Johnny Johnson formed a Gulf of Mexico diving company called World Wide Divers. The company grew in response to increasing demand for their services and in 1969 merged with two other diving companies to form Oceaneering International, Inc. To solve the toughest challenges, we do things differently, creatively, and smarter. As your trusted partner, our unmatched experience and truly innovative portfolio of technologies and solutions give us the flexibility to adapt and evolve, regardless of market conditions. Our mission is to solve the unsolvable. We thrive by creating industry-changing technically creative solutions for the most complex operational challenges under water, on land, and in space. Our five core values establish a common culture and demonstrate what is most important for us as a company. Since the beginning, the company has transformed from a small regional diving company into a global provider of engineered products and services. Today, we develop products and services for use throughout the lifecycle of an offshore oilfield, from drilling to decommissioning. We operate the world's premier fleet of work class ROVs. Additionally, we are a leader in offshore oilfield maintenance services, umbilicals, subsea hardware, and tooling. We also serve the aerospace, defense, and theme park industries. Underpinning everything we do, safety is not only the foundation of our core values, but it is vital to our unmatched performance record and company culture. The industries we serve are as diverse as they are complex. Whether we are engineering deepwater umbilicals or developing robotics for aerospace applications, the safety and health of our employees, vendors, and customers is an integral part of our day-to-day business. If we are working, then our responsibility is to be working safely. Since our inception in 1964, we have placed a high value on employee safety—from diving services and subsea inspection to vessel-based installation operations. We have and will continue to evolve not only our health, safety, and environmental (HSE) processes, but those of the industries in which we work. Although we have been fatality-free since 1999, our HSE journey goes beyond statistics. As our portfolio of services has grown, we have continued to prioritize and advance our approach to HSE.

Trade Shows Oceaneering is a global company, spanning several industries such as the offshore energy industry, defense, entertainment, material handling, aerospace, science, and renewable energy industries. Because our work is global, we strive to showcase our talent, expertise, technology and services worldwide at several important and high-profile trade shows per year. At Offshore Technology Conference in Houston, as well as European-centric trade shows like Offshore Northern Seas (ONS) and Offshore Europe, Oceaneering displayed a touch screen that allows users to bring our technologies and services to life with in-depth facts and figures, and informative videos. Another highlight of our conference stand is the live, mobile mission control center, which provides a look at our collaborative and operational onshore base, supporting all kinds of operations both on- and offshore, topside and subsea. The MSC allows you to optimize resources, hence reducing cost, lowering HSE risk, and lowering emissions to the environment. Trade Shows allow Oceaneering the ability to meet with the public and potential clients to give them more in-depth knowledge about our specialized tools and services. By meeting with Oceaneering’s subject matter experts about our offerings, clients and potential clients can get an open window into the types of services Oceaneering can provide. Oceaneering’s expertise covers the spectrum from remotely operated vehicles, subsea hardware, asset integrity, flow assurance, diving, survey and mapping, vessels, well intervention, workover control systems, pipeline repair, inspection, non-destructive testing, decommissioning, entertainment systems, renewables, umbilicals, valves, marine services, product testing and qualification, data management, vessel navigation and positioning systems, science and other research, and even space systems. Our experts are sought out for their knowledge and experience, to shed light on the latest innovative technology and trends within the wide-ranging industries we serve. They work closely to devise solutions to problems that couldn’t be solved otherwise. We demonstrate our value every day, striving to complete projects on-time and on-budget. Trade shows, including smaller, local meet-and-greets, help tell our story and showcase the expertise and innovation behind our tools, technology, and services. We aim to not only solve the unsolvable but demonstrate our value and expertise as a company, every single day, on every single job, all across the world. We hope to serve you soon.

Brochures Our brochures section allows users to read more in-depth about our specialized tools and services that span several industries, such as the offshore energy industry, defense, entertainment, material handling, aerospace, science, and renewable energy industries. By reading more about our offerings, clients and potential clients can get an open window into the types of services Oceaneering can provide. Oceaneering’s expertise covers the spectrum from remotely operated vehicles, subsea hardware, asset integrity, flow assurance, diving, survey and mapping, vessels, well intervention, workover control systems, pipeline repair, inspection, non-destructive testing, decommissioning, entertainment systems, renewables, umbilicals, valves, marine services, product testing and qualification, data management, vessel navigation and positioning systems, science and other research, and even space systems. Our Brochure section features a searchable web database, where users don’t have to simply scroll to find the items for which they are searching. Simply enter your search terms, and select either “exact” or “search title” to help get you closer to relevant technology and services from Oceaneering that can help you solve your needs. Users can also filter their searches by category. Oceaneering offers 40 categories and sub categories to help users find what they need even faster. With a database of nearly 200 brochures, we aim to make the search process as easy as possible so we can get in touch faster to provide you with top-notch service and world-class expertise. Our experts are sought out for their knowledge and experience, to shed light on the latest innovative technology and trends within the wide-ranging industries we serve. They work closely to devise solutions to problems that couldn’t be solved otherwise. We demonstrate our value every day, striving to complete projects on-time and on-budget. Our brochures help to tell our story and showcase the expertise and innovation behind our tools, technology, and services. We aim to not only solve the unsolvable but demonstrate our value and expertise as a company, every single day, on every single job. We do this work with much importance placed on safety, because safety is instilled in every worker, in every region in which we do business. We hope to serve you soon.