May 17, 2022

05/17/2022 | 05:12pm EDT Message : May 2022 Forward-Looking Statements In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, Oceaneering cautions that statements 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," "could," "should," "would," "intend," "opportunity," "target," "plan," "forecast," "budget," "goal," or other words that convey the uncertainty of future events or outcomes. The forward-looking statements in this presentation include, among other things, statements about: growing energy transition and non-energy portfolio; increasing focus on eco-friendly enabling opportunities and digitalization; our expectation that we will benefit from increasing offshore activity; our Manufactured Products backlog, to the extent backlog may be viewed as an indicator of future revenue or profitability; our outlook for the second quarter and full year 2022 and the factors underlying our outlook, including as to free cash flow, capital expenditures, and tax payments; offshore activity, future innovation; and investment levels and the outlook for offshore energy for 2022, including estimates of future Brent crude prices, offshore and subsea expenditures and investments, contracted floating rig demand, subsea tree awards and installations, and offshore greenfield project FIDs; our focus on generating free cash flow, refocus on growth spending and improving our returns, maintaining financial flexibility, mitigating the effects of inflation and supply chain issues, remaining disciplined in pricing decisions, and the factors underlying our projections; maintaining our focus on safety, execution, and quality; responsiveness to customer needs; growing by leveraging our technologies and capabilities into new markets; customer expansion; attracting and retaining top talent; and increasing our focus on sustainability and energy transition. 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: factors affecting the level of activity in the oil and gas industry; supply and demand of drilling rigs; oil and natural gas demand and production growth; oil and natural gas prices; actions by members of OPEC and other oil exporting countries; factors affecting the level of activity in each of our government and entertainment businesses, including decisions on spending and funding by the U.S. Government and capital expenditure decisions by entertainment business customers, such as theme park operators; general economic and business conditions and industry trends, including the ongoing transition to alternative sources of energy to reduce worldwide emissions of carbon dioxide and other greenhouse gases; the continuing effects of the coronavirus (COVID-19) pandemic and the governmental, customer, supplier and other responses to the pandemic; the impact of the Russia-Ukraine crisis and the global response thereto; fluctuations in currency markets worldwide; future global economic conditions; the cancellation, suspension, or loss of major contracts or alliances; future performance under our customer contracts; possible breaches by customers under those contracts; and the effects of competition. 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 that may affect our actual results, see our periodic filings with the Securities and Exchange Commission, including our most recent Reports on Forms 10-K and 10-Q. You should not place undue reliance on forward-looking statements. This presentation reflects the views of Oceaneering's management as of the date hereof. Except to the extent required by applicable law, Oceaneering undertakes no obligation to update or revise any forward- looking statement. 2 Non-GAAP Information This presentation includes several "non-GAAP" financial measures, as defined under Regulation G of the U.S. Securities Exchange Act of 1934, as amended. Oceaneering reports its financial results in accordance with U.S. generally accepted accounting principles but believes that certain non-GAAP financial measures provide useful supplemental information to investors regarding the underlying business trends and performance of its ongoing operations and are useful for period-over-period comparisons of those operations. The non-GAAP measures in this presentation include Adjusted Operating Income, EBITDA, Adjusted EBITDA, Adjusted Operating EBITDA, and Free Cash Flow. These non-GAAP financial measures should be considered as supplemental to, and not as substitutes for or superior to, the financial measures prepared in accordance with GAAP. The definitions of these non-GAAP financial measures and reconciliations to the most comparable GAAP measures are provided in the section of this presentation titled Supplemental Information. 3 Growing energy transition and non-energy portfolio Increasing focus on eco-friendly enabling opportunities and digitalization Global provider of integrated technology solutions Positioned to benefit from increasing offshore activity Blue-chipcustomer base