BRAZIL ENERGY AND POWER CONFERENCE. Americo Oliveira McDermott Brazil General Manager September 20, 2015

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1 BRAZIL ENERGY AND POWER CONFERENCE Americo Oliveira McDermott Brazil General Manager September 20, 2015

2 Forward-Looking Statement In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions that statements in this presentation which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott s actual results of operations. These forward-looking statements include, but are not limited to, statements about the market outlook and expected benefits from our io oil and gas consulting venture and Petrofac alliance. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the scope, terms or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and business partners, difficulties executing on projects, changes in industry norms and adverse outcomes in legal and other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. For a more complete discussion of these and other risk factors, please see McDermott s annual and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, This presentation reflects management s views as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement. 2

3 McDermott Today A vertically integrated offshore and subsea engineering and construction company executing projects from concept to installation Strategically located fabrication yards and a versatile marine fleet Strong long-term relationships with leading energy customers globally 93 years of innovative offshore infrastructure solutions 3

4 Market Outlook Industry capex cuts expected to have greater impact on new field developments (greenfield) and deepwater subsea activities Globally, national oil companies continue to spend capital, even with reduced commodity prices, to maintain production levels and national objectives Timing of new awards remains volatile as customers reevaluate and recycle their portfolio of projects An excess supply of subsea vessels is resulting in increased competition in the regions that remain active Different geographies have varied outlooks and challenges relative to project economics Managing assets and financial flexibility within a challenging macro environment 4

5 Extensive Field Development Experience Customer focused solutions from concept to installation 5

6 Global Footprint, Local Expertise Operational centers of excellence in the key energy markets 6

7 Specialized Fleet of 13 Vessels HEAVY LIFT DLV2000* DB50 DB32 DB30 DB27 FLEX-LAY AGILE EMERALD SEA NORTH OCEAN 102 RIGID REEL-LAY NORTH OCEAN 105 CONSTRUCTION SUPPORT/LAUNCH BARGES CSV108 Thebaud Sea I-600 I-650 Multi-class group of versatile assets operating regionally and globally 7 *Under construction

8 Strategically Located Fabrication Yards JEBEL ALI, UAE Serving a variety of international and local markets 8 *Joint ventures

9 VERTICALLY INTEGRATED The Complete EPCI Project Lifecycle ENGINEERING PROCUREMENT CONSTRUCTION INSTALLATION PROJECT LIFECYCLE In-house management and control of all stages of a project s lifecycle 9

10 McDermott Brazil PLSV AGILE PLSV NO 102 PLSV LV 105 TLWP Papa Terra Back in Brazil since 2012 More than 1,500 vessel days of deep water operation Installation of first TLWP in Brazil 100% Brazilian onshore team including subsea engineers Focus on EPCI Projects Demonstrating solid project execution EPCI projects worldwide 10

11 Global Leaders Uniting for Long-Term Growth io oil and gas consulting Venture between McDermott and GE Oil & Gas Conceptual and pre-feed engineering consultancy Designed to deliver clients greater price and cost certainty on field developments Petrofac Strategic Alliance Five-year strategic marketing alliance to pursue top-tier deepwater subsea, umbilical, riser and flowline projects Leverages McDermott s experience delivering large subsea EPCI projects, specialty subsea fleet and fabrication capabilities Provides access to Petrofac s top-tier, ultra-heavy lift, S-Lay / J-Lay JSD 6000 vessel Strategic and collaborative partnerships to provide efficient technical and cost solutions 11

12 Corporate Summary Vertically integrated EPCI solutions providing more cost efficient and technically strong results for customers Clear market position in the regions where clients anticipated to spend capex in the near-term Cost-saving initiatives providing flexibility and longer-term financial stability Strategic partnerships positioning for long-term growth 12

13 INVESTOR CONTACT K. Darcey Matthews Vice President, Investor Relations The information contained herein is provided for general information purposes only and is not intended or to be construed as a warranty, an offer, or any representation of contractual or other legal responsibility. McDermott has a policy of continuous improvement of its products and services and reserves the right to change information including specifications and processes without notice.