Siem Offshore Inc

Siem Offshore Inc. held ownership or management interests in 43 vessels and 8 newbuilds under construction in Brazil, Germany and Poland at the end of 2015. The vessels in operation included 10 large-capacity anchor-handling, tug and supply (“AHTS”) vessels, 13 mid-size and large-size platform supply vessels (“PSVs”), 5 offshore subsea construction vessels (“OSCVs”; category also includes multi-purpose field and ROV support vessels), 7 supply/crew/standby vessels located in Brazil, 6 offshore support vessels in Canada, 1 well-stimulation vessel and 1 scientific drilling vessel. In addition, Siem Offshore managed 2 AHTS vessels, of similar design to the 8 owned by the company, in a pool arrangement. The vessels under-construction in Germany and Poland included 2 large well-intervention vessels (“WIVs”) for delivery in 2016, 3 dual-fuel PSVs for delivery in 2016, 1 AHTS vessel for delivery in 2016 and 1 cable-lay vessel (“CLV”) for delivery in 2016. The vessels under-construction in Brazil included 1 oil spill recovery vessel (“OSRV”) to be delivered in 2016.

In 2014, Siem Offshore announced contracts to charter-out 2 large well-intervention vessels (“WIVs”) for firm periods of 7 years each with options to extend the charter period. The new vessels will be of SALT 307 WIV design and are being built in Germany with deliveries scheduled in 2016.

At the end of 2015, the Company owned 699,110,008 shares of Siem Offshore (OSE Symbol: SIOFF), or 83.0%. For more information regarding Siem Offshore, see http://www.siemoffshore.com/