PARETO SECURITIES CONFERENCE David Dickson Chief Executive Officer September 2, 2015
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…
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,…
Industry Macro Drivers - Capex (2014 2017) In billions In billions 80 Global 8 Middle East 60 6 40 4 20 2 0 0 2014 2015 2016 2017 2014 2015 2016 2017 Offshore Subsea Offshore Global Offshore Outlook Middle East Offshore…
Extensive Field Development Experience Customerfocused solutions from concept to installation 6
Global Footprint, Local Expertise Operational centers of excellence in the key energy markets 7
A Diverse and Global Customer Base SUPER MAJORS NATIONAL OIL COMPANIES MAJORS INDEPENDENTS Customers with varying commodity price sensitivities and near-term objectives 8
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…
Strategically Located Fabrication Yards JEBEL ALI, UAE Serving a variety of international and local markets 10 *Joint ventures
The Complete EPCI Project Lifecycle ENGINEERING PROCUREMENT CONSTRUCTION INSTALLATION VERTICALLY INTEGRATED PROJECT LIFECYCLE In-house management and control of all stages of a projects lifecycle 11
Ichthys: A Complete Client Solution Engineering scope - 500,000 man-hours from offices across the globe Procurement - In excess of 600 million of in-field equipment procured Construction - 48 subsea structures and a Riser Support…
Saudi Aramco: Lump Sum Award Largest single award in McDermotts Middle East history Full scale EPCI contract utilizing specialized shallow water installation vessels and fabrication yards in Dammam and Jebel Ali Complex project…
Key Project Awards - YTD Timeline - Award Date to Expected Completion Field or Work Work Project 2015 2016 2017 Client Project Type Scope Size 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Qatar Petroleum N. Field Alpha BF EPCI Large 1Q…
2Q Backlog and New Order Intake 698 In millions 5,000 700 600 3,750 429 500 428 330 400 2,500 300 176 166 200 1,250 100 0 0 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15 2Q'15 New Awards Change Orders Backlog Backlog Roll-off by Year…
Quarterly Revenues 1,047 in millions 806 604 550 476 415 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15 2Q'15 2Q'14 Revenue Breakdown 2Q'15 Revenue Breakdown Improving execution in Asia and on three Middle East projects driving greater…
Strong Financial Foundation 771 million of cash and restricted cash at June 30, 2015 1,553 - Majority of cash is unrestricted with the ( millions) As of June 30, 2015 ability to utilize most restricted - Net debt of 83.2 million…
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…
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…
Appendix 20
Engineering and Procurement Overview Capabilities Strategic Benefit Studies and conceptual designs Centers of engineering excellence Front-End Engineering & Design (FEED) supported by regional expertise Detailed engineering and design…
Fabrication and Installation Overview Capabilities Strategic Benefits Topsides and onshore modules Large-scale fabrication facilities Jackets, piles and compliant towers and yards throughout the world TLPs, SPARs, FPSOs A versatile…
Bids Outstanding and Target Projects1 in billions 21 billion as of June 30, 2015 Business Line Oil/Gas Greenfield/Brownfield 11.4 15.2 15.2 9.6 5.8 5.8 OFFSHORE SUBSEA OIL GAS GREEN BROWN Segment Customer Contract Scope…
Summary Balance Sheet Q4'14 Q1'15 Q2'15 Cash And Restricted Cash 852.9 800.4 771.0 Other Current Assets 634.5 744.6 809.9 Fixed Assets Net & Other 1,929.5 1,915.0 1,903.6 Total Assets 3,416.9 3,460.0 3,484.5 Total Current…
2015 Revised Guidance (As of 8/10/2015) March 15 Guidance Revised Guidance Revenues 3.3 - 3.6 billion 3.0 - 3.3 billion Operating Income 25 - 50 million 50 - 70 million Capex (excluding capitalized interest) 275 - 295 million 130 -…
K. Darcey Matthews INVESTOR Vice President, Investor Relations CONTACT 281.870.5147 dmatthewsmcdermott.com The information contained herein is provided for general information purposes only and is not intended or to be construed…
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