Marvin J. Migura. Oceaneering International, Inc. Executive Vice President. September 30, 2014 New Orleans, LA. Safe Harbor Statement

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1 September 30, 2014 New Orleans, LA Marvin J. Migura Executive Vice President Oceaneering International, Inc. Safe Harbor Statement Statements we make in this presentation that express a belief, expectation, or intention are forward looking. Forward-looking statements are generally accompanied by words such as estimate, project, predict, believe, expect, anticipate, plan, forecast, budget, goal, or other words that convey the uncertainly of future events or outcomes. These forward-looking statements are based on our current information and expectations that involve a number of risks, uncertainties, and assumptions. Among the factors that could cause the actual results to differ materially from those indicated in the forward-looking statements are: industry conditions, prices of crude oil and natural gas, our ability to obtain and the timing of new projects, and changes in competitive factors. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual outcomes could vary materially from those indicated. For additional information regarding these and other factors, g g, see our periodic filings with the Securities and Exchange Commission, including our most recent Reports on Forms 10-K and 10-Q.

2 WHY OII? Leveraged to Deepwater and Subsea Completions Leading Market Positions ROVs and Specialty Subsea Products Good Project Execution Excellent Earnings, Liquidity and Cash Flow

3 Leveraged to Deepwater Projects Take Years to Develop Largely Oil Reservoirs With High Production Flow Rates Well Capitalized Customer Base Investment Based on Long-Term Commodity Price

4 Leading Market Position Remotely Operated Vehicles Ownership Drill Support Market Share OII OII % 60% Worldwide Fleet 877 Vehicles* 284 Floating Rigs Contracted** Source: * OII Estimates - December 2013; **IHS Petrodata -June 2014

5 High-Spec, Non-PBR Brazil Rig Fleet 120 Existing Rigs Under Contract OII ROV Contracts t on 80% 68 Rigs On Order OII Expects to Continue as Dominant ROV Provider OII ROV Contracts on 19 of 21 Awards 47 ROV Contract Opportunities Remaining Only 5 rigs have drilling contracts Source: IHS-Petrodata Data & OII Estimates, June 30, 2014

6 Leading Market Position Specialty Subsea Products Umbilicals Tooling & Subsea Work Systems Installation and Workover Control Systems Subsea Hardware

7 Earnings Per Share Guidance 2014 Estimate $ $4.05 are ngs per Sh Earni $4.50 $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 Actual Low Estimate High Estimate E OII 2014 Guidance Range as of July 23, 2014

8 EPS Guidance Oilfield Business Segment Outlook SEGMENT OPERATING INCOME 2014 ROV >2013 Subsea Products >2013 Subsea Projects >2013 Asset Integrity >2013

9 Excellent Cash Flow & Liquidity EBITDA of $855 MM to $875 MM Expected in 2014 $746 MM in 2013 Ample Resources to Invest in Growth At June 30, 2014: $103 MM Cash $80 MM Debt $2.2 B Equity EBITDA Reconciliation to Net Income is in Supplemental Financial Information Slides

10 Capital Allocation Q3 Interim Update As of September 26, million Treasury Shares Acquired for $201 MM in Q3 3.5 million Treasury Shares Acquired for $237 MM YTD

11 Bank Financing Q3 Interim Update As of September 26, 2014 Bank Revolving Credit Facility Increased by $100 MM $400 MM Committed, up from $300 MM $280 MM Drawn Efforts Underway Further Increase Committed Bank Facilities to Provide Incremental Financial Flexibility

12 Long-Term Deepwater Outlook Major Source of Future Oil Supply Exploration Success Bodes Well for the Future Drilling Intensity is Rising Source: ExxonMobil and Deutsche Bank

13 Worldwide Deepwater Capex Forecast to More Than Double $ in billions $300 $250 $260 $200 $150 $100 $113 $50 $ Source: Douglas-Westwood, January 2014

14 5-Year OII Outlook Global Demand Growth Deepwater Drilling Field Development Inspection, Maintenance, and Repair (IMR)

15 Floating Rig Demand Ye ear-end Co ontracted Fl loating Rigs % Increase In Demand Since at End of 2013: 314 Rigs in Fleet, 90% Fleet Utilization. Source: IHS-Petrodata at December 31, 2013

16 2014 Floating Rig Market As of June Rigs Under Contract Up Two Year To Date 10 Rigs Added to Fleet in First Half All Contracted Fleet Utilization was 88% 90% at the end of Rigs Scheduled d to be Added d in Second Half 12 Contracted Source: IHS-Petrodata Data - June 30, 2014

17 Floating Rig Demand 5-Year Projection Ye ear-end Co ontracted Fl loating Rigs Assuming 10 Rigs Per Year are Retired or Cold Stacked and 85% Rig Fleet Utilization 282 Up ~ 30 10% Growth 311 End of 2013: 314 Rigs in Fleet, 90% Fleet Utilization. Source: IHS-Petrodata at June 30, 2014

18 Floating Rig Demand 5-Year Projection with 5-Year Averages Ye ear-end Co ontracted Fl loating Rigs Assuming 10 Rigs Per Year are Retired or Cold Stacked and 85% Rig Fleet Utilization Up 55 >20% Growth End of 2013: 314 Rigs in Fleet, 90% Fleet Utilization. Source: IHS-Petrodata at June 30, 2014

19 Subsea Hardware CAPEX Forecast to Increase 80% $ in billions $125 $100 $117 $75 $50 $65 $25 $ Source: Douglas-Westwood, May 2014

20 Deepwater Fields Backlog Undeveloped Discoveries Fields 600m Source: IHS Petrodata

21 5-Year Deepwater Outlook What To Expect Along The Way Some Project Approvals May Continue to be Delayeded Approved Projects Cost Overruns Production Start-Up Delays Technical Challenges Sheer Volume of Projects Will Still Drive Growth

22 Offshore Construction Backlog Saipem, Technip, and Subsea 7 in billions * * June 2014 Source: Morgan Stanley Estimates and Company Filings

23 Subsea Tree Orders - Global Forecast at Historically High Levels Source: Quest Offshore Resources Mean Case Forecast, August 2014

24 Subsea Tree Orders Excluding BRZ Forecast at Historically High Levels Tree Orde ers Source: Quest Offshore Resources Mean Case Forecast, August 2014

25 Subsea Installations Excluding BRZ Forecast at Historically High Levels % Growth Installation ns Source: Quest Offshore Resources Mean Case Forecast, August 2014

26 Subsea Completions In Service, Excl BRZ vs. Subsea Products Operating Income (SSP Op Inc) 5000 Annual SSP Op Inc in millions $ $ $ $ $50 0 $0 SS Completions SSP Op Inc Source: OII SEC Filings and Quest Offshore Resources, 2014

27 Subsea Completions In Service, Excl BRZ Forecast at Historically High Levels 5000 Up 900 > 25% Growth Source: Quest Offshore Resources & OII SEC Filings, August 2014

28 OII Summary Diversified OFS Company Leading Market Positions in Technical Niches Leveraged to Deepwater and Subsea Completions Excellent Earnings, Liquidity and Cash Flow

29

30 Supplemental Financial Information

31 EBITDA in millions Actual Low Estimate High Estimate $1,000 $900 $800 $700 $600 $500 $400 $300 $200 $100 $ E* * $855MM - $875MM Based on OII EPS Guidance as of July 23, 2014 See Next Slide For Non-GAAP Reconciliation to Net Income

32 EBITDA Reconciliation to Net Income Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-gaap financial measurement. Oceaneering s management uses EBITDA because we believe that this measurement is a widely accepted financial indicator used by investors and analysts to analyze and compare companies on the basis of operating performance, and that this measurement may be used by some investors and others to make informed investment decisions. You should not consider EBITDA in isolation from or as a substitute for net income or cash flow measures prepared in accordance with generally accepted accounting principles or as a measure of profitability or liquidity. EBITDA calculations by one company may not be comparable to EBITDA calculations made by another company. The following table provides a reconciliation between net income (a GAAP financial measure) and EBITDA (a non-gaap financial measure) for Oceaneering s historical and projected results on a consolidated basis for the periods indicated: Period Ended December 31, E 2014E (in millions of $) LOW HIGH Net Income Depreciation & Amortization Subtotal Interest Expense/Income, Net Income Tax Expense EBITDA

33 Business Segments Revenue Operating Income 14% 7% 1% 8% 13% 30% 42% 16% YTD June % ROV Subsea Products Subsea Projects Asset Integrity Adtech 36%

34 Supplemental Market Information

35 Oilfield ROV Fleet Ownership Profile - December % OII OII Subsea 7 Fugro DOF Subsea Saipem C-Innovations Helix Technip Other 877 Vehicles Source: OII Estimates

36 OII ROV Fleet Geographic Profile June GOM Africa Norway Brazil Asia/Pac Other 323 Vehicles

37 OII ROV Fleet Size od End Vehicle Co ount at Peri June 30, 2014

38 Oilfield ROV Drill Support Market June 2014 OII Subsea 7 60% Fugro Sonsub Other 284 Contracted Floating Rigs Source: IHS-Petrodata and OII Estimates

39 OII ROVs on Vessels Locations June GOM Africa Norway 19 Other Vehicles

40 OII ROVs on Vessels Customers June 2014 Operators Contractors 85 Vehicles

41 ROV Pricing and Fleet Utilization $11,000 Revenue / Day on Hire Fleet Utilization 100% $9,000 90% $7,000 80% $5,000 70% $3,000 60% $1,000 50% *YTD June 2014

42 Subsea Products Backlog At Period End in millions $1,000 $800 $600 $400 $200 $ June 2014

43 Subsea Tree Orders - Global Forecast at Historically High Levels Up % Growth Source: Quest Offshore Resources Mean Case Forecast, August 2014

44 Subsea Tree Orders Excluding BRZ Forecast at Historically High Levels 800 Up 190 >70% Growth Source: Quest Offshore Resources Mean Case Forecast, August 2014

45 Subsea Installations - Global Forecast at Historically High Levels 700 Up % Growth Source: Quest Offshore Resources Mean Case Forecast, August 2014

46 Subsea Completions In Service - Global vs. Subsea Products Operating Income (SSP Op Inc) 5000 Annual SSP Op Inc in millions $ $ $ $ $50 0 $0 SS Completions SSP Op Inc Source: OII SEC Filings and Quest Offshore Resources, 2014

47 Subsea Completions In Service - Global Forecast at Historically High Levels Up 1200 > 25% Growth Source: Quest Offshore Resources, August 2014

48 Umbilical Products Thermoplastic Hose Umbilicals Steel Tube Umbilicals

49 OIE Products Tooling & Work Packages Production Control Valves Installation Workover & Control Systems Connectors & Repair Systems Field Development Hardware