G4-1

Statement from the most senior decision-maker of the organization (such as CEO, chair, or equivalent senior position) about the relevance of sustainability to the organization and the organization’s strategy for addressing sustainability.

1.1 Message from the CEO

No

G4-2

Description of key impacts, risks, and opportunities.

3.6 Risk Management

No

G4-3

Name of the organization

1.2 About SBM Offshore and its Global Presence

No

G4-4

Primary brands, products, and services.

1.2 About SBM Offshore and its Global Presence
1.4 Activities and Markets

No

G4-5

Location of the organization’s headquarters.

1.2 About SBM Offshore and its Global Presence

No

G4-6

Number of countries where the organization operates, and names of countries where either the organization has significant operations or that are specifically relevant to the sustainability topics covered in the report.

1.2 About SBM Offshore and its Global Presence

No

G4-7

Nature of ownership and legal form.

3.5.1 Corporate Governance Structure

No

G4-8

Markets served (including geographic breakdown, sectors served, and types of customers and beneficiaries).

1.2 About SBM Offshore and its Global Presence

1.4 Activities and Markets

1.5 Competitive Landscape and Market Positioning

2.3.2 Fleet

5.3.3 Geographical Information and Reliance on Major Customers

No

G4-9

Scale of the organization.

1.8 2016 in Brief

2.3.2 Fleet

No

G4-10

a. Total number of employees by employment contract and gender;

b. Total number of permanent employees by employment type and gender;

c. Total workforce by employees and supervised workers by gender;
d. Total workforce by region and gender;
e. Whether a substantial portion of the organization’s work is performed by workers who are legally recognized as self-employed, or by individuals other than employees or supervised workers, including employees and supervised employees of contractors;

f. Any significant variations in employment numbers (such as seasonal variations in employment in the tourism or agricultural industries)

a-e. 6.2.3 Human Resources

6.1.8 Human Resources Reporting

No

f. Is not applicable considering the industry SBM Offshore operates in.

G4-11

Percentage of total employees covered by collective bargaining agreements.

6.2.3 Human Resources

No

G4-12

Description of supply chain.

1.5 Competitive Landscape and Market Positioning

1.6 Position within the Value Chain

2.10 Supply Chain

No

G4-13

Any significant changes during the reporting period regarding size, structure, ownership, or supply chain

1.2 About SBM Offshore and its Global Presence

2.3.2 Fleet

4.4 Dividend Policy and Share Repurchase Program

Overview

No

G4-14

Whether and how the precautionary approach or principle is addressed by the organization.

Code of Conduct

3.7 Compliance

3.6.3 Significant Risks facing the Business

Compliance risks, Climate change,

Operation risks, HSSE

No

G4-15

Externally developed economic, environmental, and social charters, principles, or other initiatives to which the organization subscribes or which it endorses.

2.3.2 Fleet

2.10 Supply Chain

Declaration of Human Rights for Suppliers

2.11 Local Content, Sustainability Development Goals

3.7 Compliance

Company Code of Conduct refers to adherence to UN Declaration of Human Rights, OECD Guidelines for Multinational Enterprises and ILO Conventions (Code of Conduct)

The Compliance Table provides for an overview of management systems in the Execution Centers and Shorebases like ISO 9001 and 14001, OHSAS 18001 and Social Accountability. The management systems are further explained in 6.4 Certification and Classification tables.

6.1 Scope of Non-Financial Information

Reference is made to the IOGP for incidents classifications and CO₂ emissions reporting although SBM Offshore is not a member of the IOGP.

No

G4-16

List memberships in associations (such as industry associations) and national or international advocacy organizations in which the organization:

1. Holds a position on the governance body;
2. Participates in projects or committees;
3. Provides substantive funding beyond routine membership dues; or
4. Views membership as strategic. This refers primarily to memberships maintained at the organizational level.

SBM Offshore is not active on any FPSO related associations, as no FPSO specific association have been created. SBM Offshore has regular membership with institutes associated to our business, however they do not meet the criteria defined for GRI G4-16.

No

G4-17

a. All entities included in the organization’s consolidated financial statement or equivalent documents.

b. Whether any entity included in the organization’s consolidated financial statements or equivalent documents is not covered by the report. The organization can report on this Standard Disclosure by referencing the information in publicly available consolidated financial statements or equivalent documents.

5.3.30 List of Group Companies

5.3.31 Interest in Joint Ventures and Associates

6.1.5 Reporting Boundaries

No

G4-18

a. The process for defining report content and the Aspect Boundaries;
b. Explain how the organization has implemented the Reporting Principles for Defining Report Content.

6.1 Scope of Non-Financial Information

Code of Conduct

No

G4-19

All the material Aspects identified in the process for defining reporting content.

1.7 Materiality-based Value Creation

6.1.4 Stakeholder Engagement

6.1.2 Materiality Methodology

No

G4-20

For each material Aspect, report the Aspect Boundary within the organization.

6.1 Scope of Non-Financial Information

No

G4-21

For each material Aspect, report the Aspect Boundary outside the orgnization.

6.1.5 Reporting Boundaries

6.1.6 Health, Safety and Security Reporting,

SBM Offshore also reports on the HSSE performance of our contractors and sub contractors

No

G4-22

The effect of any restatements of information provided in previous reports, and the reasons for such re-statements.

Restatement related to performance indicators:

6.1.7 Environmental Reporting

6.2.2 Environment

No

G4-23

Significant changes from previous reporting periods in the Scope and Aspect Boundaries.

SBM Offshore has expanded reporting for Waste, see:

2.5 Environment

6.2.2 Environment

No

G4-24

List of stakeholder groups engaged by the organization.

6.1.4 Stakeholder Engagement

No

G4-25

Basis for identification and selection of stakeholders with whom to engage.

6.1.4 Stakeholder Engagement

No

G4-26

a. Report the organization’s approach to stakeholder engagement, including frequency of engagement by type and by stakeholder group, and an indication of whether any of the engagement was undertaken specifically as part of the report preparation process.

6.1.4 Stakeholder Engagement

No

G4-27

a. Report key topics and concerns that have been raised through stakeholder engagement, and how the organization has responded to those key topics and concerns, including through its reporting. Report the stakeholder groups that raised each of the key topics and concerns.

1.7 Materiality-based Value Creation

6.1.4 Stakeholder Engagement

6.1.2 Materiality Methodology

No

G4-28

a. Reporting period (e.g. fiscal/calendar year) for information provided.

6.1.5 Reporting Boundaries

No

G4-29

a. Date of most recent previous report (if any).

February 10, 2016

No

G4-30

a. Reporting cycle (annual, biennial).

Annual

No

G4-31

a. Provide the contact point for questions regarding the report or its contents.

7.2 Addresses & Contact Details

No

G4-32

a. Report the ‘in accordance’ option the organization has chosen.

b. Report the GRI Content Index for the chosen option (see tables below).

c. Report the reference to the External Assurance Report, if the report has been externally assured. GRI recommends the use of external assurance but it is not a requirement to be ‘in accordance’ with the Guidelines.

a. 6.1 Scope of Non-Financial Information

b. GRI Content index used

c. 6.5 Assurance report of the independent auditor

No

G4-33

a. Report the organization’s policy and current practice with regard to seeking external assurance for the report.

b. If not included in the assurance report accompanying the sustainability report, report the scope and basis of any external assurance provided.

c. Report the relationship between the organization and the assurance providers.

d. Report whether the highest governance body or senior executives are involved in seeking assurance for the organization’s sustainability report.

6.1 Scope of Non-Financial Information

6.2 Non-Financial Indicators

6.5 Assurance report of the independent auditor

No

G4-34

a. Report the governance structure of the organization, including committees of the highest governance body. Identify any committees responsible for decision-making on economic, environmental and social impacts.

3.3 Report of the Supervisory Board

3.4.1 Management Board Remuneration Policy

The Supervisory Board Technical & Commercial Committee (TCC)

The TCC reviews the Health, Safety, Security and Environmental performance of SBM Offshore which includes Social Performance as per the HSSE & SP Policy.

3.5.1 Corporate Governance Structure

No

G4-56

a. Describe the organization’s values, principles, standards and norms of behaviour such as codes of conducts and codes of ethics.

1.3 Vision and Values

1.7 Materiality-based Value Creation

3.7 Compliance

Company Code of Conduct refers to adherence to UN Declaration of Human Rights, OECD Guidelines for Multinational Enterprises and ILO Conventions (Code of Conduct)

No

G4-57

a. Report the internal and external mechanisms for seeking advice on ethical and lawful behaviour, and matters related to organizational integrity, such as helplines or advice lines.

3.7 Compliance

Further details can be found in the ‘Integrity Reporting Policy’

Not applicable

G4-58

a. Report the internal and external mechanisms for reporting concerns about unlawful or unethical behaviour, and matters related to organizational integrity, such as escalation through line management, whistleblowing mechanisms or hotlines.

3.7 Compliance

Further details can be found in the ‘Integrity Reporting Policy’

Not applicable

Aspect:
Economic Performance

G4-Disclosure on Management Approach (DMA)

5.1 Financial Review

No

G4-EC1

Direct economic value generated and distributed:

• revenues
• operating costs
• employee wages and benefits
• payments to providers of capital
• payments to governments
• community investments

• Revenue
• 5.3.2 Operating Segments
• 5.3.6 Employee Benefit Expenses
• Return on Average Capital Employed and Equity
• not applicable
• Information not available

No

Aspect:
Innovation &Technology

G4-Disclosure on Management Approach (DMA)

2.9 Technology

No

Innovation &Technology

Technology is measured on the quantity and quality of new designs and proprietary components delivered.

• Number of new systems and components to be delivered during the year
• Percentage of turnover enabled by new technology

2.9 Technology

Internally we monitor the progress on these investments, however we do not disclose details due to the competitive nature of this information.

No

Aspect:
Renewables

G4-Disclosure on Management Approach (DMA)

2.9 Technology

No

Aspect:
Sustainable Business

G4-Disclosure on Management Approach (DMA)

2.12 Sustainable Business

No

Sustainable Business

The level of performance is measured in successful implementation of the License to Operate into the License to Grow.

2.12 Sustainable Business

No

Aspect:
Compliance Environmental

G4-Disclosure on Management Approach (DMA)

2.5 Environment

2.7 Quality and Regulatory

No

Aspect:
Energy
Emissions & Effluents

G4-Disclosure on Management Approach (DMA)

2.5 Environment

No

G4-EN3

Energy consumption within the organization

6.2.2 Environment

6.1.7 Environmental Reporting

No

G4-EN5

Energy intensity

2.5 Environment

6.2.2 Environment

SBM Offshore reports on its energy intensity in as per the GRI 4 Sector Disclosure for Oil and Gas.

No

G4-EN15

Direct greenhouse gas (GHG) emissions (scope 1)

2.5 Environment

6.1 Scope of Non-Financial Information

6.1.7 Environmental Reporting

6.2.2 Environment

Absolute reduction targets are not applicable to SBM Offshore therefore base year not deemed relevant.

No

G4-EN16

Energy indirect greenhouse gas (GHG) emissions (scope 2)

2.5 Environment

6.1 Scope of Non-Financial Information

6.2 Non-Financial Indicators

6.2.2 Environment

Absolute reduction targets are not applicable to SBM Offshore therefore base year not deemed relevant.

No

G4-EN21

NO_x , SO_x , and other significant air emissions

2.5 Environment

6.1 Scope of Non-Financial Information

6.2 Non-Financial Indicators

6.2.2 Environment

No

G4-EN24

Total number and volume of significant spills

2.5 Environment

6.1 Scope of Non-Financial Information

6.2 Non-Financial Indicators

6.2.2 Environment

No spills recorded by SBM Offshore in 2016 are considered to be ‘significant spills’ according to the GRI Sector Disclosure Guidelines for Oil and Gas.

No

G4-OG5

Volume and Disposal of formation or produced water

2.5 Environment

6.2 Non-Financial Indicators

6.2.2 Environment

SBM Offshore reports on tonnes of oil in produced water in million tonnes of hydrocarbon production. This standard is a more appropriate way of reporting for the offshore industry.

No

G4-OG6

Volume of flared and vented hydrocarbon

2.5 Environment

6.2 Non-Financial Indicators

6.2.2 Environment

SBM Offshore reports on the volume of gas flared. SBM Offshore does not measure the volume of vented hydrocarbons therefore this information is not available.

No

Aspect:
Labour practices and decent work:

• Employment
• Diversity
• Training and Education
• Occupational Health and Safety

G4-Disclosure on Management Approach (DMA)

2.8 Talented People

No

Aspect:
Human Rights:

• Investment
• Assessment

G4-Disclosure on Management Approach (DMA)

2.11.2 Human Rights

No

Human Rights:

SBM Offshore measures the % of the employee population covered by collective bargaining agreements.

6.2.3 Human Resources

No

Aspect:
Society:
Local
Communities

G4-Disclosure on Management Approach (DMA)

2.11.1 Local Communities

No

Local Communities

Number of different nationalities and percentage of each nationalities employed by SBM Offshore

6.2.3 Human Resources

No

G4-LA1

Total number and rates of new employee hires and employee turnover by age group, gender, and region

2.8 Talented People

6.2 Non-Financial Indicators

6.2.3 Human Resources

No

G4-LA6

Type of injury and rates of injury, occupational diseases, lost days, and absenteeism, and total number of work-related fatalities, by region and by gender

6.2.1 Health, Safety & Security

Absenteeism was not disclosed in 2016 as the information was not available. SBM Offshore aims to include this indicator in 2017.

Omission on absenteeism

G4-LA9

Average hours of training per year per employee by gender, and by employee category

6.2.3 Human Resources

No

G4-LA11

Percentage of employees receiving regular performance and career development reviews, by gender and by employee category

6.2.3 Human Resources

No

Aspect:
Society:

Anti-Corruption

Compliance

G4-Disclosure on Management Approach (DMA)

3.7 Compliance

No

G4-SO4

Communication and training on anti-corruption policies and procedures

3.7 Compliance

6.2.3 Human Resources

No

G4-SO5

Confirmed incidents of corruption and actions taken

There were no confirmed incidents of corruption in 2016, however during 2016 actions were taken related to previously reported incidents.

No

G4-SO8

Monetary value of significant fines and total number of non-monetary sanctions for noncompliance with laws and regulations

SBM Offshore did not have any significant monetary fines or non-monetary sanctions for 2016.

6.1.9 Compliance Reporting

No

Aspect:
Asset integrity and process safety

G4-Disclosure on Management Approach (DMA)

2.6 Operational Excellence

No