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8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 27, 2019

 

 

SEACOR Marine Holdings Inc.

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

Delaware   001-37966   47-2564547

(State or Other Jurisdiction

of Incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

12121 Wickchester Lane, Suite 500, Houston, TX   77079
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code (346) 980-1700

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

  ☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  ☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  ☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  ☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Common Stock   SMHI   New York Stock Exchange (“NYSE”)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☒

 

 

 

Item 7.01

Regulation FD Disclosure

The information in this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

On September 27, 2019, SEACOR Marine Holdings Inc. (the “Company”) posted an investor presentation to its website at https://ir.seacormarine.com/presentations. A copy of the investor presentation is attached hereto as Exhibit 99.1.

 

Item 9.01

Financial Statements and Exhibits

(d) Exhibits

 

Exhibit

    No.    

    Description
99.1    SEACOR Marine Holdings Inc. Investor Presentation dated September 2019

 

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    SEACOR Marine Holdings Inc.
September 27, 2019     By:  

/s/ John Gellert

    Name:   John Gellert
    Title:   President and Chief Executive Officer

 

3

EX-99.1

Exhibit 99.1 Investor Presentation September 2019Exhibit 99.1 Investor Presentation September 2019

Forward-Looking Statement Certain statements discussed in this release as well as in other reports, materials and oral statements that SEACOR Marine Holdings Inc. (“SEACOR Marine” or the “Company”) releases from time to time to the public constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “believe,” “plan,” “target,” “forecast” and similar expressions are intended to identify forward- looking statements. Such forward-looking statements concern management's expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or expected by the management of the Company. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties and other important factors, many of which are beyond the Company's control. It should be understood that it is not possible to predict or identify all such factors. Consequently, the preceding should not be considered to be a complete discussion of all potential risks or uncertainties. Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. It is advisable, however, to consult any further disclosures the Company makes on related subjects in its filings with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (if any). These statements constitute the Company's cautionary statements under the Private Securities Litigation Reform Act of 1995. Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures, including Direct Vessel Profit (defined as operating revenues less operating costs and expenses, “DVP”) when applied to individual vessels, fleet categories or the combined fleet. DVP is a critical financial measure used by the Company to analyze and compare the operating performance of its individual vessels, fleet categories, regions and combined fleet, without regard to financing decisions (depreciation for owned vessels vs. leased-in expense for leased-in vessels). DVP is also useful when comparing the Company’s fleet performance against those of our competitors who may have differing fleet financing structures. DVP has material limitations as an analytical tool in that it does not reflect all of the costs associated with the ownership and operation of our fleet, and it should not be considered in isolation or used as a substitute for our results as reported under GAAP. See slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. seacormarine.com 2Forward-Looking Statement Certain statements discussed in this release as well as in other reports, materials and oral statements that SEACOR Marine Holdings Inc. (“SEACOR Marine” or the “Company”) releases from time to time to the public constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “believe,” “plan,” “target,” “forecast” and similar expressions are intended to identify forward- looking statements. Such forward-looking statements concern management's expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or expected by the management of the Company. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties and other important factors, many of which are beyond the Company's control. It should be understood that it is not possible to predict or identify all such factors. Consequently, the preceding should not be considered to be a complete discussion of all potential risks or uncertainties. Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. It is advisable, however, to consult any further disclosures the Company makes on related subjects in its filings with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (if any). These statements constitute the Company's cautionary statements under the Private Securities Litigation Reform Act of 1995. Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures, including Direct Vessel Profit (defined as operating revenues less operating costs and expenses, “DVP”) when applied to individual vessels, fleet categories or the combined fleet. DVP is a critical financial measure used by the Company to analyze and compare the operating performance of its individual vessels, fleet categories, regions and combined fleet, without regard to financing decisions (depreciation for owned vessels vs. leased-in expense for leased-in vessels). DVP is also useful when comparing the Company’s fleet performance against those of our competitors who may have differing fleet financing structures. DVP has material limitations as an analytical tool in that it does not reflect all of the costs associated with the ownership and operation of our fleet, and it should not be considered in isolation or used as a substitute for our results as reported under GAAP. See slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. seacormarine.com 2

Who We Are Owner and operator of Global presence across Financial highlights Superior fleet offshore support vessels 177 vessels $81.1 million 5 Most diverse customer base of 1 Cash any operator in offshore sector: Continents 9.3 years • Supermajors $399.7 million average age for fleet, excluding ERRVs* • Independents Net debt with majority • National oil companies NYSE : SMHI Ideally positioned for current of maturities beyond 2022 •Wind market and upturn in oil and gas Spun-off from • Government markets and offshore wind SEACOR Holdings Inc. $765.5 million Seasoned management team developments in June 2017 *as of June 30, 2019 Net PP&E 1 Cash, restricted cash and construction reserve fund seacormarine.com 3Who We Are Owner and operator of Global presence across Financial highlights Superior fleet offshore support vessels 177 vessels $81.1 million 5 Most diverse customer base of 1 Cash any operator in offshore sector: Continents 9.3 years • Supermajors $399.7 million average age for fleet, excluding ERRVs* • Independents Net debt with majority • National oil companies NYSE : SMHI Ideally positioned for current of maturities beyond 2022 •Wind market and upturn in oil and gas Spun-off from • Government markets and offshore wind SEACOR Holdings Inc. $765.5 million Seasoned management team developments in June 2017 *as of June 30, 2019 Net PP&E 1 Cash, restricted cash and construction reserve fund seacormarine.com 3

Ideally Positioned Consistent Diverse Methodical Value-add Prudent Growth Assets, customer base Investment / Divestment Partnerships Balance Sheet and footprint 1 • Direct vessel profit (DVP ) • Leverage economies of • Continuous fleet up-grading • Access geographic markets • Disciplined capital has increased steadily since scale across global platform improves marketing with local barriers to entry allocation for highest 1Q2017 and diverse customer base success (focus on high- (e.g. MEXMAR) return investments value services) • Continued improvements in • Access to all major offshore • Leverage operating platform • Active management of fleet utilization and markets provides competitive • Selective acquisition through wider control of balance sheet by extending dayrates intelligence and of offshore assets assets (e.g. SEACOSCO) debt maturities and financing opportunity to shift assets acquisitions through non- • 24% increase in • Scrapping of older vessels • Complement our fleet recourse debt. average day rates • Targeted go-to-market continues to reduce capacities and service compared to 1Q2017 strategy matching customer supply and drive cost offering (e.g. Fred Olsen needs with vessel type reduction Windcarrier) • 26% increase in by region utilization since 1Q2017 • Diversification provides offensive and defensive advantages 1 DVP is a non-GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. seacormarine.com 4Ideally Positioned Consistent Diverse Methodical Value-add Prudent Growth Assets, customer base Investment / Divestment Partnerships Balance Sheet and footprint 1 • Direct vessel profit (DVP ) • Leverage economies of • Continuous fleet up-grading • Access geographic markets • Disciplined capital has increased steadily since scale across global platform improves marketing with local barriers to entry allocation for highest 1Q2017 and diverse customer base success (focus on high- (e.g. MEXMAR) return investments value services) • Continued improvements in • Access to all major offshore • Leverage operating platform • Active management of fleet utilization and markets provides competitive • Selective acquisition through wider control of balance sheet by extending dayrates intelligence and of offshore assets assets (e.g. SEACOSCO) debt maturities and financing opportunity to shift assets acquisitions through non- • 24% increase in • Scrapping of older vessels • Complement our fleet recourse debt. average day rates • Targeted go-to-market continues to reduce capacities and service compared to 1Q2017 strategy matching customer supply and drive cost offering (e.g. Fred Olsen needs with vessel type reduction Windcarrier) • 26% increase in by region utilization since 1Q2017 • Diversification provides offensive and defensive advantages 1 DVP is a non-GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. seacormarine.com 4

Positioned to Capitalize on Offshore RevivalPositioned to Capitalize on Offshore Revival

Improving Dayrates and Fleet Utilization 12,000 70% 10,807 10,186 9,913 9,742 60% 10,000 9,451 9,071 8,583 8,565 8,431 8,272 50% 7,925 8,000 7,371 7,323 7,324 7,122 7,001 40% 6,435 6,006 5,726 6,000 5,649 30% 4,000 20% 2,000 10% 0 0% Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Average Rates Per Day for Total Fleet Average Rates Per Day for Total Fleet (Ex. Wind Farm Utility) Total Fleet Utilization Total Fleet Utilization (Ex. Wind Farm Utility) As of June 30, 2019 seacormarine.com 6Improving Dayrates and Fleet Utilization 12,000 70% 10,807 10,186 9,913 9,742 60% 10,000 9,451 9,071 8,583 8,565 8,431 8,272 50% 7,925 8,000 7,371 7,323 7,324 7,122 7,001 40% 6,435 6,006 5,726 6,000 5,649 30% 4,000 20% 2,000 10% 0 0% Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Average Rates Per Day for Total Fleet Average Rates Per Day for Total Fleet (Ex. Wind Farm Utility) Total Fleet Utilization Total Fleet Utilization (Ex. Wind Farm Utility) As of June 30, 2019 seacormarine.com 6

Continuing Growth 1 Direct Vessel Profit (DVP) (in millions) $28.8 $21.7 $20.8 $14.7 $13.4 $12.0 $11.7 $9.4 $4.5 67% 527% 24% 15% 10% 48% 33% 58% 73% $1.5 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 As of June 30, 2019 1 DVP is a non-GAAP financial measure. See slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. seacormarine.com 7Continuing Growth 1 Direct Vessel Profit (DVP) (in millions) $28.8 $21.7 $20.8 $14.7 $13.4 $12.0 $11.7 $9.4 $4.5 67% 527% 24% 15% 10% 48% 33% 58% 73% $1.5 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 As of June 30, 2019 1 DVP is a non-GAAP financial measure. See slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. seacormarine.com 7

Strong Revenue Backlog Supporting Growth Contract Revenue (in millions) $70 JV SMHI $23.6 $23.7 $22.7 $70.3 $84.0 $89.2 $251.3 2019 2020 2021+ Total As of June 30, 2019 Contract revenue backlog is our expectation of revenues to be generated from existing and uncompleted contracts assuming that such contracts are not cancelled, suspended or terminated prior to expiration of their current term or otherwise modified in a manner that would affect revenue expected under the contract. seacormarine.com 8Strong Revenue Backlog Supporting Growth Contract Revenue (in millions) $70 JV SMHI $23.6 $23.7 $22.7 $70.3 $84.0 $89.2 $251.3 2019 2020 2021+ Total As of June 30, 2019 Contract revenue backlog is our expectation of revenues to be generated from existing and uncompleted contracts assuming that such contracts are not cancelled, suspended or terminated prior to expiration of their current term or otherwise modified in a manner that would affect revenue expected under the contract. seacormarine.com 8

Diversified Assets, Customer Base and Global Presence Diversified Assets, Customer Base and Global Presence

Fleet Mix – Core Focus Areas Positioned to meet needs of diverse customer base across life cycle of offshore development Shallow Water Infrastructure Windfarm Crew Field Support, Maintenance, Crew Transfer, Customer Transport & Fast Deepwater, Plug & Maintenance Cargo Demands Fuel Efficient Abandonment, & Installation Applications Windfarms SEACOR CTVs FSVs PSVs Liftboats Marine (windfarm) Solutions seacormarine.com 10Fleet Mix – Core Focus Areas Positioned to meet needs of diverse customer base across life cycle of offshore development Shallow Water Infrastructure Windfarm Crew Field Support, Maintenance, Crew Transfer, Customer Transport & Fast Deepwater, Plug & Maintenance Cargo Demands Fuel Efficient Abandonment, & Installation Applications Windfarms SEACOR CTVs FSVs PSVs Liftboats Marine (windfarm) Solutions seacormarine.com 10

Key areas of fleet investments: Market Leader in New Hybrid Power PSVs 6% rd SEACOR Marine Ranks 3 for Publicly Traded Owners with Active 13% Diesel Electric PSVs of 15 years of age and younger. 6% st SEACOR Marine Ranks 1 in Hybrid 6% Power PSV’s 64% 5% SEACOR Marine continues to grow through acquisition of 6 more Newbuild Diesel Electric PSVs SEACOR Marine Top Publicly Traded Owners Others Key Benefits • Optimized hull form that delivers excellent sea-keeping and high speed under rough weather conditions, as well as better fuel economy over long distances. • High accommodation capacity built to MLC standards. • Built to SPS code. Dual load line for SPS and non-SPS allowing the DWT and deck cargo to be maximized in non-SPS duties. • Special product stainless tanks with nitrogen pad and purge. • Foam fire-fighting capability with dedicated foam tanks. Source: Clarksons’ World Offshore Register as of July 31, 2019 seacormarine.com 11Key areas of fleet investments: Market Leader in New Hybrid Power PSVs 6% rd SEACOR Marine Ranks 3 for Publicly Traded Owners with Active 13% Diesel Electric PSVs of 15 years of age and younger. 6% st SEACOR Marine Ranks 1 in Hybrid 6% Power PSV’s 64% 5% SEACOR Marine continues to grow through acquisition of 6 more Newbuild Diesel Electric PSVs SEACOR Marine Top Publicly Traded Owners Others Key Benefits • Optimized hull form that delivers excellent sea-keeping and high speed under rough weather conditions, as well as better fuel economy over long distances. • High accommodation capacity built to MLC standards. • Built to SPS code. Dual load line for SPS and non-SPS allowing the DWT and deck cargo to be maximized in non-SPS duties. • Special product stainless tanks with nitrogen pad and purge. • Foam fire-fighting capability with dedicated foam tanks. Source: Clarksons’ World Offshore Register as of July 31, 2019 seacormarine.com 11

Key areas of fleet investments: Hybrid Hybrid power technology • Energy Storage System produces significant advantages over regular Diesel Electric PSVs • New lithium battery power technology and integration • Improves vessel efficiency • Lowers cost through reducing fuel consumption • Reduces emissions by as much as 20% • Classification society approved seacormarine.com 12Key areas of fleet investments: Hybrid Hybrid power technology • Energy Storage System produces significant advantages over regular Diesel Electric PSVs • New lithium battery power technology and integration • Improves vessel efficiency • Lowers cost through reducing fuel consumption • Reduces emissions by as much as 20% • Classification society approved seacormarine.com 12

Key areas of fleet investments: CTV’s CTVs WindGrip Access system • Improves safety of offshore transfers and increases accessibility of wind turbines • Increases grip on the boat landing in rough waters and higher wave conditions • Currently installed on 29 vessels (26 owned and 3 joint-ventured) Fleet upgrades • Use of stored energy results in reduced structure born noise and vibration, increasing crew comfort • Fuel oil consumption and monitoring to gauge fuel efficiency of hybrid vessels Investment in passenger comfort • Airline-style pod seating on tracks to configure to customer preference • PAX COMFORTS: USB charging port at each seat, LED lighting seacormarine.com 13Key areas of fleet investments: CTV’s CTVs WindGrip Access system • Improves safety of offshore transfers and increases accessibility of wind turbines • Increases grip on the boat landing in rough waters and higher wave conditions • Currently installed on 29 vessels (26 owned and 3 joint-ventured) Fleet upgrades • Use of stored energy results in reduced structure born noise and vibration, increasing crew comfort • Fuel oil consumption and monitoring to gauge fuel efficiency of hybrid vessels Investment in passenger comfort • Airline-style pod seating on tracks to configure to customer preference • PAX COMFORTS: USB charging port at each seat, LED lighting seacormarine.com 13

SEACOR Marine’s Demand Drivers Our diversified fleet is positioned to meet current demand and capitalize on early and later stages of market recovery in oil & gas as well as windfarm developments. Oil & Gas Offshore Crew Plug & Development Exploration SMHI Vessel type Decommissioning Maintenance Production Wind Transfer Abandonment Drilling Drilling Vessels AHTS XX X X 9 FSV XX XXX40 PSV (<3,500DWT) * XXXX22 PSV (>3,500DWT) XX X 19 ERRV XX X X X X 18 Liftboat XX X X X 19 Crew Transfer Vessel XX X X X X 44 (CTV) Recovery Stage ** N/A EARLY EARLY EARLY MID MID MID FULL As of June 30, 2019 * Vessels of less than 2,500 DWT in this category are also referred to in this presentation as “shelf PSVs” or “handy size PSVs.” ** Based on the company’s evaluation of recovery cycle, stage of recovery in which demand is expected to increase. *** The Company also operated six specialty vessels not included above. seacormarine.com 14SEACOR Marine’s Demand Drivers Our diversified fleet is positioned to meet current demand and capitalize on early and later stages of market recovery in oil & gas as well as windfarm developments. Oil & Gas Offshore Crew Plug & Development Exploration SMHI Vessel type Decommissioning Maintenance Production Wind Transfer Abandonment Drilling Drilling Vessels AHTS XX X X 9 FSV XX XXX40 PSV (<3,500DWT) * XXXX22 PSV (>3,500DWT) XX X 19 ERRV XX X X X X 18 Liftboat XX X X X 19 Crew Transfer Vessel XX X X X X 44 (CTV) Recovery Stage ** N/A EARLY EARLY EARLY MID MID MID FULL As of June 30, 2019 * Vessels of less than 2,500 DWT in this category are also referred to in this presentation as “shelf PSVs” or “handy size PSVs.” ** Based on the company’s evaluation of recovery cycle, stage of recovery in which demand is expected to increase. *** The Company also operated six specialty vessels not included above. seacormarine.com 14

Flexibility and Stability Through Diversification Enhance growth opportunity: Offshore Oil & Gas + Wind Percentage of Revenue by Region Percentage of Revenue by Vessel Class 19% U.S. (primarily Gulf of Mexico) 5% AHTS 18% West Africa 29% FSV 7% Supply 22% Middle East & Asia 19% ERRV 8% Brazil, Mexico, Central & South America 11% CTV 29% Liftboats 33% Europe (primarily North Sea) As of June 30, 2019 seacormarine.com 15Flexibility and Stability Through Diversification Enhance growth opportunity: Offshore Oil & Gas + Wind Percentage of Revenue by Region Percentage of Revenue by Vessel Class 19% U.S. (primarily Gulf of Mexico) 5% AHTS 18% West Africa 29% FSV 7% Supply 22% Middle East & Asia 19% ERRV 8% Brazil, Mexico, Central & South America 11% CTV 29% Liftboats 33% Europe (primarily North Sea) As of June 30, 2019 seacormarine.com 15

Global Presence with Optimal Fleet Mix 177 Total Vessels United States 29 Middle East 28 Europe 64 Asia Pacific 1 Mexico 19 West Africa South America 20 16 (including 12 in Brazil) As of June 30, 2019 seacormarine.com 16Global Presence with Optimal Fleet Mix 177 Total Vessels United States 29 Middle East 28 Europe 64 Asia Pacific 1 Mexico 19 West Africa South America 20 16 (including 12 in Brazil) As of June 30, 2019 seacormarine.com 16

Methodical Investment / DivestmentMethodical Investment / Divestment

Steady Growth through Cycle Property, Plant and Equipment & Joint Venture Investments (in millions) JV 3% AHTS PPE $119.67  $110.29  42% FSV $765.49 $770.37 $90.21  5% Supply $689.83 $137.04  3% ERRV $541.94 32% Liftboats 4% CTV 2% Other 9% CIP 2019 2016 2017 2018 As of June 30, 2019 seacormarine.com 18Steady Growth through Cycle Property, Plant and Equipment & Joint Venture Investments (in millions) JV 3% AHTS PPE $119.67 $110.29 42% FSV $765.49 $770.37 $90.21 5% Supply $689.83 $137.04 3% ERRV $541.94 32% Liftboats 4% CTV 2% Other 9% CIP 2019 2016 2017 2018 As of June 30, 2019 seacormarine.com 18

Aggregating Transactions Through the Cycle Fleet Renewal and Expansion at Compelling Values 2016 2017 2018 Graham Gulf fleet: 11 FSVs, U.S. flag Cypress Leasing: 1 PSV in West Africa Hellespont: 4 PSVs in West Africa (10 years average age), in class • Distressed sale • Rollover debt transaction and contracted • $10 million en bloc • $3 million approx. • $7 million approx. • Sold 9 of 11 for net proceeds of • 42% payback* • Two of the four Hellespont PSVs $5 million.* • Subsequently converted into an were sold for approx. $9.6 million* • Two high spec FSVs remaining in fleet ERRV Pacific Richfield: 14 AHTS/PSVs in Southeast Asia market • Distressed sale • Warehouse financing • No capital at risk *As of June 30, 2019 seacormarine.com 19Aggregating Transactions Through the Cycle Fleet Renewal and Expansion at Compelling Values 2016 2017 2018 Graham Gulf fleet: 11 FSVs, U.S. flag Cypress Leasing: 1 PSV in West Africa Hellespont: 4 PSVs in West Africa (10 years average age), in class • Distressed sale • Rollover debt transaction and contracted • $10 million en bloc • $3 million approx. • $7 million approx. • Sold 9 of 11 for net proceeds of • 42% payback* • Two of the four Hellespont PSVs $5 million.* • Subsequently converted into an were sold for approx. $9.6 million* • Two high spec FSVs remaining in fleet ERRV Pacific Richfield: 14 AHTS/PSVs in Southeast Asia market • Distressed sale • Warehouse financing • No capital at risk *As of June 30, 2019 seacormarine.com 19

Aggregating Transactions Through the Cycle Fleet Renewal and Expansion at Compelling Values 2018 2019 2018 SEACOSCO: JV with COSCO Acquisition of Mr. • 8 modern and high spec PSVs: deepwater capable, hybrid, built-in ability to delay deliveries Stevens: FSV • Limited cash outlay with efficient non-recourse debt • $8.5 million – $1,000/day per vessel until delivery • Long-term contract – 4% interest rate + LIBOR once delivered with a 12 year term outside of the • Acquisition price estimated at 65% of replacement cost oil & gas sector • 5 vessels of this series already delivered Falcon Global: 6 liftboats, U.S. flag, and consolidation of international JV • Unique assets / COMPETITIVE POSITION • Acquisition of majority stake via formation of JV and assumption of debt on non-recourse basis UP Offshore: JV with CME • 11 PSV and 3 specialty • 5 currently contracted in Brazil, 1 in Mexico 3 PSVs under construction • Acquired from COSCO Zhoushan • Approx. $45.5 million (30% will be paid in cash and 70% under a four-year deferred payment agreement) seacormarine.com 20Aggregating Transactions Through the Cycle Fleet Renewal and Expansion at Compelling Values 2018 2019 2018 SEACOSCO: JV with COSCO Acquisition of Mr. • 8 modern and high spec PSVs: deepwater capable, hybrid, built-in ability to delay deliveries Stevens: FSV • Limited cash outlay with efficient non-recourse debt • $8.5 million – $1,000/day per vessel until delivery • Long-term contract – 4% interest rate + LIBOR once delivered with a 12 year term outside of the • Acquisition price estimated at 65% of replacement cost oil & gas sector • 5 vessels of this series already delivered Falcon Global: 6 liftboats, U.S. flag, and consolidation of international JV • Unique assets / COMPETITIVE POSITION • Acquisition of majority stake via formation of JV and assumption of debt on non-recourse basis UP Offshore: JV with CME • 11 PSV and 3 specialty • 5 currently contracted in Brazil, 1 in Mexico 3 PSVs under construction • Acquired from COSCO Zhoushan • Approx. $45.5 million (30% will be paid in cash and 70% under a four-year deferred payment agreement) seacormarine.com 20

Vessel Sales 51 vessels sold since 2016 • Net gains of $13.9 million • Estimated cold-stack savings of approximately $9.8 million throughout the cycle (in millions) $78.1 Net Gains Estimated Cold‐Stack Savings NBV Net Proceeds $64 $9.8 $39.5 $36.8 $5.2 $3.9 $2.7 $15.9 $13.6 $2.1 $12.4 $10.3 $7.2 $6.4 2016 2017 2018 2019 Since 2016 2016 2017 2018 2019 Since 2016 *As of June 30, 2019 seacormarine.com 21Vessel Sales 51 vessels sold since 2016 • Net gains of $13.9 million • Estimated cold-stack savings of approximately $9.8 million throughout the cycle (in millions) $78.1 Net Gains Estimated Cold‐Stack Savings NBV Net Proceeds $64 $9.8 $39.5 $36.8 $5.2 $3.9 $2.7 $15.9 $13.6 $2.1 $12.4 $10.3 $7.2 $6.4 2016 2017 2018 2019 Since 2016 2016 2017 2018 2019 Since 2016 *As of June 30, 2019 seacormarine.com 21

Adding Value Through Strong Partnerships 22Adding Value Through Strong Partnerships 22

Strategic Partnerships Strategic use of joint ventures and partnerships to: Improve risk adjusted return 1. Share project finance risk: limited partnerships in U.S., 2. Norway and China Enhance market coverage: Angola, Saudi Arabia, Mexico and Brazil 3. seacormarine.com 23Strategic Partnerships Strategic use of joint ventures and partnerships to: Improve risk adjusted return 1. Share project finance risk: limited partnerships in U.S., 2. Norway and China Enhance market coverage: Angola, Saudi Arabia, Mexico and Brazil 3. seacormarine.com 23

MexMar JV – Value & Meaningful Asset Base • Critical contractor to Pemex – main provider of deepwater PSVs • Substantial asset base: 18 owned and operated vessels • Growing customer base and opportunities: Mexican energy reform and international oil companies • Fully compliant with local content / cabotage regulations (increasingly important) MexMar 2014 2015 2016 2017 2018 Q2 19 YTD MexMar Vessels Average Dayrate 14,336 13,927 14,625 14,431 13,466 11,197 Utilization 92% 94% 88% 85% 77% 82% • SEACOR Columbus • Baltic Avail. Days 4,972 5,991 5,456 5,475 5,475 2,806 • SEACOR Maya • Bernie McCall Revenue ($'000s) 65,339 78,363 70,521 67,003 57,003 25,866 • Caspian • SEACOR Olmeca 1 DVP ($'000s) 29,154 40,152 36,483 41,342 34,882 13,519 • SEACOR Pride • Doreen McCall Net PP&E of Fleet • SEACOR Tolteca • Linda F. 144,961 188,609 209,477 193,842 198,790 190,408 ($'000s) • SEACOR Viking • Lisa F. DEBT ($'000s) 75,064 116,154 104,097 109,076 93,309 87,134 • SEACOR Warrior • SEACOR Azteca SMHI JV Earnings, 4,501 5,650 3,556 10,103 2,736 (1) • UP Turquoise • SEACOR Cabral Net of Tax ($'000s) • UP Agate • UP Jade SMHI JV Investment 36,309 50,163 63,404 60,980 53,840 53,299 ($'000s) As of June 30, 2019 1 Direct Vessel Profit (“DVP”) is a non GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. seacormarine.com 24MexMar JV – Value & Meaningful Asset Base • Critical contractor to Pemex – main provider of deepwater PSVs • Substantial asset base: 18 owned and operated vessels • Growing customer base and opportunities: Mexican energy reform and international oil companies • Fully compliant with local content / cabotage regulations (increasingly important) MexMar 2014 2015 2016 2017 2018 Q2 19 YTD MexMar Vessels Average Dayrate 14,336 13,927 14,625 14,431 13,466 11,197 Utilization 92% 94% 88% 85% 77% 82% • SEACOR Columbus • Baltic Avail. Days 4,972 5,991 5,456 5,475 5,475 2,806 • SEACOR Maya • Bernie McCall Revenue ($'000s) 65,339 78,363 70,521 67,003 57,003 25,866 • Caspian • SEACOR Olmeca 1 DVP ($'000s) 29,154 40,152 36,483 41,342 34,882 13,519 • SEACOR Pride • Doreen McCall Net PP&E of Fleet • SEACOR Tolteca • Linda F. 144,961 188,609 209,477 193,842 198,790 190,408 ($'000s) • SEACOR Viking • Lisa F. DEBT ($'000s) 75,064 116,154 104,097 109,076 93,309 87,134 • SEACOR Warrior • SEACOR Azteca SMHI JV Earnings, 4,501 5,650 3,556 10,103 2,736 (1) • UP Turquoise • SEACOR Cabral Net of Tax ($'000s) • UP Agate • UP Jade SMHI JV Investment 36,309 50,163 63,404 60,980 53,840 53,299 ($'000s) As of June 30, 2019 1 Direct Vessel Profit (“DVP”) is a non GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. seacormarine.com 24

Balance SheetBalance Sheet

Balance Sheet Highlights (in millions) Jun-19 Cash + Construction Reserve Funds 78.9 Restricted Cash 2.2 Available Liquidity 81.1 Net PP&E 765.5 Construction in Progress 68.2 Investment, at Equity, and Advances to Joint Ventures 112.4 1 Outstanding Debt (Current and Long-Term) 399.7 SMHI Stockholders’ Equity 488.5 Non-Controlling Interests 22.7 1 Total debt includes $185.6 million of guaranteed subsidiary debt guaranteed by SEACOR Marine and $124.1 million of subsidiary debt that is non-recourse to SEACOR Marine seacormarine.com 26Balance Sheet Highlights (in millions) Jun-19 Cash + Construction Reserve Funds 78.9 Restricted Cash 2.2 Available Liquidity 81.1 Net PP&E 765.5 Construction in Progress 68.2 Investment, at Equity, and Advances to Joint Ventures 112.4 1 Outstanding Debt (Current and Long-Term) 399.7 SMHI Stockholders’ Equity 488.5 Non-Controlling Interests 22.7 1 Total debt includes $185.6 million of guaranteed subsidiary debt guaranteed by SEACOR Marine and $124.1 million of subsidiary debt that is non-recourse to SEACOR Marine seacormarine.com 26

Manageable Debt Maturity Schedule No major debt maturities until 2023 (in millions) Non‐Recourse Recourse $81.7 $227.4 $25.2 $25.5 $24.6 $8.7 $26.5 2019 2020 2021 2022 Years subsequent to 2022 seacormarine.com 27Manageable Debt Maturity Schedule No major debt maturities until 2023 (in millions) Non‐Recourse Recourse $81.7 $227.4 $25.2 $25.5 $24.6 $8.7 $26.5 2019 2020 2021 2022 Years subsequent to 2022 seacormarine.com 27

Capital Expenditures Focused on Core Areas Trend of Historical CAPEX Spending and CAPEX Commitments (dollars in millions) $100.9 $69.0 $23.6 $52.0 $35.3 $41.2 2016 2017 2018 2019* 2020 CAPEX Spending CAPEX Commitments *As of June 30, 2019 Remaining CAPEX commitments: 3 FSV’s, 5 PSV’s and 2 CTV’s seacormarine.com 28Capital Expenditures Focused on Core Areas Trend of Historical CAPEX Spending and CAPEX Commitments (dollars in millions) $100.9 $69.0 $23.6 $52.0 $35.3 $41.2 2016 2017 2018 2019* 2020 CAPEX Spending CAPEX Commitments *As of June 30, 2019 Remaining CAPEX commitments: 3 FSV’s, 5 PSV’s and 2 CTV’s seacormarine.com 28

Thank You / Q&AThank You / Q&A

Appendix 30Appendix 30

Committed to Safety YoY Total Reportable Incident Record vs Industry Stats 4 3.5 3 2.5 2 1.5 1 0.5 0 0.15 2014 2015 2016 2017 2018 5-year average OMSA ISOA IMCA IADC IOGP SEACOR Marine Source: Offshore Marine Service Association (OMSA), International Support Vessel Owners Association (ISOA), International Marine Contractors Association (IMCA), International Association of Drilling Contractors (IADC), International Association of Oil & Gas Producers (IAGP) seacormarine.com 31Committed to Safety YoY Total Reportable Incident Record vs Industry Stats 4 3.5 3 2.5 2 1.5 1 0.5 0 0.15 2014 2015 2016 2017 2018 5-year average OMSA ISOA IMCA IADC IOGP SEACOR Marine Source: Offshore Marine Service Association (OMSA), International Support Vessel Owners Association (ISOA), International Marine Contractors Association (IMCA), International Association of Drilling Contractors (IADC), International Association of Oil & Gas Producers (IAGP) seacormarine.com 31

Global Presence with Optimal Fleet Mix w AHTS FSV Supply ERRV Specialty Liftboat CTV Mexico 513 1 United States 382 1 15 South America* 310 3 Europe 318 1 42 West Africa 4106 Middle East 2137 2 2 2 Asia Pacific 1 As of June 30, 2019 *12 in Brazil seacormarine.com 32Global Presence with Optimal Fleet Mix w AHTS FSV Supply ERRV Specialty Liftboat CTV Mexico 513 1 United States 382 1 15 South America* 310 3 Europe 318 1 42 West Africa 4106 Middle East 2137 2 2 2 Asia Pacific 1 As of June 30, 2019 *12 in Brazil seacormarine.com 32

Market Leader in Fast Support Vessels (FSVs) Favorable supply dynamics, unique assets/service, cost savings for customers • 40 Operated Vessels: 35 owned, 1 leased-in, 4 joint-ventured • New U.S. capacity is constrained by Clean Air Act emissions requirements • Evolving designs and operating protocols: enhanced passenger comfort, on board meal service and snack bar, and scheduled passenger trips • Transfer technology rapidly improving (“walk to work”): more markets accessible • Long term charters in international markets: Middle East, West Africa, Latin America and Southeast Asia Q2 19 Owned & Leased 2014 2015 2016 2017 2018 YTD • Early mover advantage: pioneered use of catamarans 1 Dayrate 9,235 9,069 7,740 7,729 7,382 7,616 in offshore – 6 cats in operation , 40+ knot speed Utilization 75% 67% 60% 47% 60% 70% • Demand drivers: cost efficiency, safety, service Avail. Days 10,045 8,460 9,967 14,645 14,495 6,569 requirement, alternative to helicopters Revenue ($'000s) 78,087 60,870 52,649 53,566 61,099 34,595 • Margin improvement drivers: shrinking fleet of competition vessels 2 DVP ($'000s) 25,824 18,872 22,478 8,052 16,727 10,191 • Distinctive features of SEACOR Marine’s fleet: 3 DVP Margin % 33% 31% 43% 15% 27% 29% comfort, jet propulsion, DP, speed Lease Expense ($'000s) 7,513 6,099 5,711 2,236 1,367 704 NBV ($'000s) 119,160 161,206 178,815 334,885 305,730 324,412 1 Out of worldwide fleet of 8 in offshore oil and gas.  2 Direct Vessel Profit (“DVP”) is a non GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the  Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. 3 Direct Vessel Profit Margin (“DVP Margin %) is a non GAAP financial measure – percentage of Direct Vessel Profit to Total Vessel Revenue. seacormarine.com 33Market Leader in Fast Support Vessels (FSVs) Favorable supply dynamics, unique assets/service, cost savings for customers • 40 Operated Vessels: 35 owned, 1 leased-in, 4 joint-ventured • New U.S. capacity is constrained by Clean Air Act emissions requirements • Evolving designs and operating protocols: enhanced passenger comfort, on board meal service and snack bar, and scheduled passenger trips • Transfer technology rapidly improving (“walk to work”): more markets accessible • Long term charters in international markets: Middle East, West Africa, Latin America and Southeast Asia Q2 19 Owned & Leased 2014 2015 2016 2017 2018 YTD • Early mover advantage: pioneered use of catamarans 1 Dayrate 9,235 9,069 7,740 7,729 7,382 7,616 in offshore – 6 cats in operation , 40+ knot speed Utilization 75% 67% 60% 47% 60% 70% • Demand drivers: cost efficiency, safety, service Avail. Days 10,045 8,460 9,967 14,645 14,495 6,569 requirement, alternative to helicopters Revenue ($'000s) 78,087 60,870 52,649 53,566 61,099 34,595 • Margin improvement drivers: shrinking fleet of competition vessels 2 DVP ($'000s) 25,824 18,872 22,478 8,052 16,727 10,191 • Distinctive features of SEACOR Marine’s fleet: 3 DVP Margin % 33% 31% 43% 15% 27% 29% comfort, jet propulsion, DP, speed Lease Expense ($'000s) 7,513 6,099 5,711 2,236 1,367 704 NBV ($'000s) 119,160 161,206 178,815 334,885 305,730 324,412 1 Out of worldwide fleet of 8 in offshore oil and gas. 2 Direct Vessel Profit (“DVP”) is a non GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. 3 Direct Vessel Profit Margin (“DVP Margin %) is a non GAAP financial measure – percentage of Direct Vessel Profit to Total Vessel Revenue. seacormarine.com 33

Leading Position in DP-2 FSVs SEACOR Marine owns 38% 38% of active DP-2/DP-3 Class 55% FSVs of 15 years of age and younger worldwide. 7% SEACOR Marine Top Publicly Traded Owners Others Key Advantages of Next-Gen FSVs • Cost and time savings of 50% to 70% on passenger transfers compared to helicopter transfers. The number of personnel transferred at once can reach from 60 to 140 per trip • Safe operations. In case of emergency, the capacity of FSVs allow a high number of personnel to be evacuated. SEACOR FSVs are also equipped with night vision for search and rescue. • Dynamic Positioning (DP2/DP3) – high redundancy and excellent maneuverability. • Comfort – our FSVs are equipped with Ride Control and Business Class seats. • Mission flexibility between cargo and operations. Source: Clarksons’ World Offshore Register as of July 31, 2019 seacormarine.com 34Leading Position in DP-2 FSVs SEACOR Marine owns 38% 38% of active DP-2/DP-3 Class 55% FSVs of 15 years of age and younger worldwide. 7% SEACOR Marine Top Publicly Traded Owners Others Key Advantages of Next-Gen FSVs • Cost and time savings of 50% to 70% on passenger transfers compared to helicopter transfers. The number of personnel transferred at once can reach from 60 to 140 per trip • Safe operations. In case of emergency, the capacity of FSVs allow a high number of personnel to be evacuated. SEACOR FSVs are also equipped with night vision for search and rescue. • Dynamic Positioning (DP2/DP3) – high redundancy and excellent maneuverability. • Comfort – our FSVs are equipped with Ride Control and Business Class seats. • Mission flexibility between cargo and operations. Source: Clarksons’ World Offshore Register as of July 31, 2019 seacormarine.com 34

Liftboats: Full Well Cycle Services, Growing Demand U.S. focus, increasing activity, developing U.S. offshore wind farm market • Self-propelled, self-elevating stable work platforms. Operations in: • U.S. GOM (15 vessels) • Middle East (2 vessels) • Europe (1 vessel) • Mexico (1 vessel) • Mission flexible for shelf locations: well intervention Q2 19 Owned & Leased 2014 2015 2016 2017 2018 and workover; construction; platform maintenance YTD and repair; diving operations; accommodations; and Dayrate 23,074 20,524 14,795 13,463 18,482 19,397 plug and abandonment / platform decommissioning Utilization 65% 28% 5% 19% 46% 46% • Wind farm installation and maintenance Avail. Days 5,475 5,475 5,490 5,390 7,329 3,439 • Differentiating features: leg length, crane capacity, deck area Revenue ($'000s) 88,868 34,346 4,410 13,959 69,889 30,809 and accommodations, international market access 1 DVP ($'000s) 28,258 (3,842) (5,531) (5,252) 32,742 10,649 2 DVP Margin % 32% – – – 47% 35% • Capacity discipline: no order book in U.S., last vessel delivered in 2015 Lease Expense ($'000s) 1,662 2,464 2,545 2,515 2,561 2,995 NBV ($'000s) 97,354 86,610 58,909 142,343 257,586 245,752 1 Direct Vessel Profit (“DVP”) is a non GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. 2 Direct Vessel Profit Margin (“DVP Margin %) is a non GAAP financial measure – percentage of Direct Vessel Profit to Total Vessel Revenue. seacormarine.com 35Liftboats: Full Well Cycle Services, Growing Demand U.S. focus, increasing activity, developing U.S. offshore wind farm market • Self-propelled, self-elevating stable work platforms. Operations in: • U.S. GOM (15 vessels) • Middle East (2 vessels) • Europe (1 vessel) • Mexico (1 vessel) • Mission flexible for shelf locations: well intervention Q2 19 Owned & Leased 2014 2015 2016 2017 2018 and workover; construction; platform maintenance YTD and repair; diving operations; accommodations; and Dayrate 23,074 20,524 14,795 13,463 18,482 19,397 plug and abandonment / platform decommissioning Utilization 65% 28% 5% 19% 46% 46% • Wind farm installation and maintenance Avail. Days 5,475 5,475 5,490 5,390 7,329 3,439 • Differentiating features: leg length, crane capacity, deck area Revenue ($'000s) 88,868 34,346 4,410 13,959 69,889 30,809 and accommodations, international market access 1 DVP ($'000s) 28,258 (3,842) (5,531) (5,252) 32,742 10,649 2 DVP Margin % 32% – – – 47% 35% • Capacity discipline: no order book in U.S., last vessel delivered in 2015 Lease Expense ($'000s) 1,662 2,464 2,545 2,515 2,561 2,995 NBV ($'000s) 97,354 86,610 58,909 142,343 257,586 245,752 1 Direct Vessel Profit (“DVP”) is a non GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. 2 Direct Vessel Profit Margin (“DVP Margin %) is a non GAAP financial measure – percentage of Direct Vessel Profit to Total Vessel Revenue. seacormarine.com 35

Well Positioned in Growing Offshore Wind Market Windcat: leading operator of CTVs with active presence in all relevant offshore 39 8 years 5 vessels vessels average wind energy markets in Europe owned 100% age of • Optimally positioned to benefit from the expected growth by JV owned vessel in the offshore wind market – from 92 wind farms in 2017 to 152 expected in 2023, adding a total capacity of almost 20 GW • Continue to adapt fleet to go where the market moves: Q2 19 Owned & Leased 2014 2015 2016 2017 2018 YTD • Expand further geographically to the East Coast of the Dayrate 2,608 2,482 2,290 2,171 2,290 2,389 U.S., which is leading the charge toward developing Utilization 90% 84% 75% 79% 73% 74% offshore wind, and to France Avail. Days 11,741 12,575 13,270 13,505 13,781 6,919 • Optimization of fleet to adapt to client needs and Revenue ($'000s) 29,839 28,037 24,627 25,131 25,134 13,105 advancements in turbine technology and construction methods 1 DVP ($'000s) 12,755 12,757 11,638 12,976 10,799 5,323 • Well positioned to enter U.S. market – SEACOR is 2 DVP Margin % 43% 45% 47% 52% 43% 41% currently the only CTV owner operating in European Lease Expense ($'000s) 61 14 402 64 – – market that is compliant with the Jones act NBV ($'000s) 44,862 39,667 31,251 25,618 26,975 27,096 As of June 30, 2019 1 Direct Vessel Profit (“DVP”) is a non GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. 2 Direct Vessel Profit Margin (“DVP Margin %) is a non GAAP financial measure – percentage of Direct Vessel Profit to Total Vessel Revenue. seacormarine.com 36Well Positioned in Growing Offshore Wind Market Windcat: leading operator of CTVs with active presence in all relevant offshore 39 8 years 5 vessels vessels average wind energy markets in Europe owned 100% age of • Optimally positioned to benefit from the expected growth by JV owned vessel in the offshore wind market – from 92 wind farms in 2017 to 152 expected in 2023, adding a total capacity of almost 20 GW • Continue to adapt fleet to go where the market moves: Q2 19 Owned & Leased 2014 2015 2016 2017 2018 YTD • Expand further geographically to the East Coast of the Dayrate 2,608 2,482 2,290 2,171 2,290 2,389 U.S., which is leading the charge toward developing Utilization 90% 84% 75% 79% 73% 74% offshore wind, and to France Avail. Days 11,741 12,575 13,270 13,505 13,781 6,919 • Optimization of fleet to adapt to client needs and Revenue ($'000s) 29,839 28,037 24,627 25,131 25,134 13,105 advancements in turbine technology and construction methods 1 DVP ($'000s) 12,755 12,757 11,638 12,976 10,799 5,323 • Well positioned to enter U.S. market – SEACOR is 2 DVP Margin % 43% 45% 47% 52% 43% 41% currently the only CTV owner operating in European Lease Expense ($'000s) 61 14 402 64 – – market that is compliant with the Jones act NBV ($'000s) 44,862 39,667 31,251 25,618 26,975 27,096 As of June 30, 2019 1 Direct Vessel Profit (“DVP”) is a non GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. 2 Direct Vessel Profit Margin (“DVP Margin %) is a non GAAP financial measure – percentage of Direct Vessel Profit to Total Vessel Revenue. seacormarine.com 36

Crew Transfer: Positioned for Offshore Wind Market Stable, recurring business in a non-traditional offshore market • Augmenting Core Competence in Passenger Transport • 44 Operated CTVs: 39 Owned & 5 Joint-Ventured • Aluminum hull catamarans, critical for maintaining offshore wind turbines 1 • Capacity: from 12 to 24 passengers per vessel • Largest operator of CTVs with active presence in all relevant offshore wind energy markets in Europe • Customer/credit profile: mainly large utility companies • Growth drivers/opportunities: Europe still expanding, 2 new projects in China, the United States , and Arabian Gulf 1 There is one (1) CTV in fleet that can carry up to 50 passengers. 2 There are two (2) CTV in fleet that are Jones Act compliant and could be redeployed to US offshore wind market. seacormarine.com 37Crew Transfer: Positioned for Offshore Wind Market Stable, recurring business in a non-traditional offshore market • Augmenting Core Competence in Passenger Transport • 44 Operated CTVs: 39 Owned & 5 Joint-Ventured • Aluminum hull catamarans, critical for maintaining offshore wind turbines 1 • Capacity: from 12 to 24 passengers per vessel • Largest operator of CTVs with active presence in all relevant offshore wind energy markets in Europe • Customer/credit profile: mainly large utility companies • Growth drivers/opportunities: Europe still expanding, 2 new projects in China, the United States , and Arabian Gulf 1 There is one (1) CTV in fleet that can carry up to 50 passengers. 2 There are two (2) CTV in fleet that are Jones Act compliant and could be redeployed to US offshore wind market. seacormarine.com 37

Emergency Response and Rescue (ERRV) – Steady Demand Opportunity to capitalize on cycle: consolidation and vessel conversions from offshore vessels acquired at deeply discounted prices • 18 Operated Vessels: 17 Owned & 1 Joint-Ventured • Regulatory mandated emergency rescue service • Complex Logistics: contracts require coverage of manned installations and platforms 24/7/365 Q2 19 Owned & Leased 2014 2015 2016 2017 2018 • SMHI operations concentrated in Southern sector YTD of UK North Sea Dayrate 10,819 10,293 9,121 8,479 8,854 8,531 Utilization 87% 84% 79% 81% 79% 84% • Opportunity: market with few participants and probable consolidation Avail. Days 8,760 8,760 8,117 7,282 7,138 3,167 Revenue ($'000s) 82,609 76,048 58,460 50,362 50,042 22,872 1 DVP ($'000s) 16,567 13,964 10,426 8,531 7,225 5,606 2 DVP Margin % 20% 18% 18% 17% 14% 25% NBV ($'000s) 33,195 28,728 21,416 20,811 25,780 23,435 1 Direct Vessel Profit (“DVP”) is a non GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. 2 Direct Vessel Profit Margin (“DVP Margin %) is a non GAAP financial measure – percentage of Direct Vessel Profit to Total Vessel Revenue. seacormarine.com 38Emergency Response and Rescue (ERRV) – Steady Demand Opportunity to capitalize on cycle: consolidation and vessel conversions from offshore vessels acquired at deeply discounted prices • 18 Operated Vessels: 17 Owned & 1 Joint-Ventured • Regulatory mandated emergency rescue service • Complex Logistics: contracts require coverage of manned installations and platforms 24/7/365 Q2 19 Owned & Leased 2014 2015 2016 2017 2018 • SMHI operations concentrated in Southern sector YTD of UK North Sea Dayrate 10,819 10,293 9,121 8,479 8,854 8,531 Utilization 87% 84% 79% 81% 79% 84% • Opportunity: market with few participants and probable consolidation Avail. Days 8,760 8,760 8,117 7,282 7,138 3,167 Revenue ($'000s) 82,609 76,048 58,460 50,362 50,042 22,872 1 DVP ($'000s) 16,567 13,964 10,426 8,531 7,225 5,606 2 DVP Margin % 20% 18% 18% 17% 14% 25% NBV ($'000s) 33,195 28,728 21,416 20,811 25,780 23,435 1 Direct Vessel Profit (“DVP”) is a non GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. 2 Direct Vessel Profit Margin (“DVP Margin %) is a non GAAP financial measure – percentage of Direct Vessel Profit to Total Vessel Revenue. seacormarine.com 38

Anchor Handling Towing Supply (AHTS) AHTS – High Optionality in U.S. & Operating Leverage Current book value approx. 20% of estimated replacement cost • 9 Operated Vessels: 5 Owned & 4 Leased-In • Angola is SEACOR Marine’s primary AHTS market – 4 vessels • Two operators in U.S. • No deliveries since 2012; no newbuilds under construction or on order • Utilization depressed, rates “acceptable”: incremental activity highly accretive to results Q2 19 Owned & Leased 2014 2015 2016 2017 2018 YTD • Recovery drivers: Dayrate 25,839 27,761 18,953 10,810 10,170 7,989 • Plug and abandonment / decommissioning in midwater depths Utilization 80% 59% 31% 22% 24% 43% • Supply role Avail. Days 5,998 5,475 5,777 5,110 4,150 1,810 Revenue ($'000s) 125,496 96,829 38,710 12,314 15,356 6,446 • Safety standby: moored installation support during 1 weather events DVP ($'000s) 61,927 49,322 13,389 (1,743) (1,673) (93) 2 DVP Margin % 49% 51% 35% – – – • Jackup support Lease Expense ($'000s) 5,561 7,313 7,527 7,470 7,411 3,066 • Salvage NBV ($'000s) 148,816 133,173 45,100 24,063 28,613 25,173 1 Direct Vessel Profit (“DVP”) is a non GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. 2 Direct Vessel Profit Margin (“DVP Margin %) is a non GAAP financial measure – percentage of Direct Vessel Profit to Total Vessel Revenue. seacormarine.com 39Anchor Handling Towing Supply (AHTS) AHTS – High Optionality in U.S. & Operating Leverage Current book value approx. 20% of estimated replacement cost • 9 Operated Vessels: 5 Owned & 4 Leased-In • Angola is SEACOR Marine’s primary AHTS market – 4 vessels • Two operators in U.S. • No deliveries since 2012; no newbuilds under construction or on order • Utilization depressed, rates “acceptable”: incremental activity highly accretive to results Q2 19 Owned & Leased 2014 2015 2016 2017 2018 YTD • Recovery drivers: Dayrate 25,839 27,761 18,953 10,810 10,170 7,989 • Plug and abandonment / decommissioning in midwater depths Utilization 80% 59% 31% 22% 24% 43% • Supply role Avail. Days 5,998 5,475 5,777 5,110 4,150 1,810 Revenue ($'000s) 125,496 96,829 38,710 12,314 15,356 6,446 • Safety standby: moored installation support during 1 weather events DVP ($'000s) 61,927 49,322 13,389 (1,743) (1,673) (93) 2 DVP Margin % 49% 51% 35% – – – • Jackup support Lease Expense ($'000s) 5,561 7,313 7,527 7,470 7,411 3,066 • Salvage NBV ($'000s) 148,816 133,173 45,100 24,063 28,613 25,173 1 Direct Vessel Profit (“DVP”) is a non GAAP financial measure. See slide 2 for a discussion of DVP and slide 42 in the Appendix to this presentation for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. 2 Direct Vessel Profit Margin (“DVP Margin %) is a non GAAP financial measure – percentage of Direct Vessel Profit to Total Vessel Revenue. seacormarine.com 39

“Handy” Size PSVs – Overlooked with Relatively Few Newbuildings Ideal for shelf operations: access to shallow water ports, jackup support and delivery to small platforms • 8 Operated Vessels Built since 2013 : 7 Joint-Ventured & 1 Owned • “Handy” is < 2,500 tons deadweight, and length < 230 feet • Prior series built of handy size: – 6 vessels 200 feet; one sold in 2015, remaining, all active – 3 vessels 221 feet; all active • Current series under constructions: 2 vessels of 221 feet • U.S. built: • Competitive in international markets – 5 in West Africa, 3 in Mexico and 1 in Middle East, • Extra accommodation: 36+ person • Small envelope, big capacities 1 • Special features: 4 vessels in this size SPS class compliant (2 on order) 1 Special Purpose Ship class vessels are built to comply with the IMO Code of Safety for Special Purpose Ships 2008. No other PSV’s in this size category worldwide are SPS compliant. seacormarine.com 40“Handy” Size PSVs – Overlooked with Relatively Few Newbuildings Ideal for shelf operations: access to shallow water ports, jackup support and delivery to small platforms • 8 Operated Vessels Built since 2013 : 7 Joint-Ventured & 1 Owned • “Handy” is < 2,500 tons deadweight, and length < 230 feet • Prior series built of handy size: – 6 vessels 200 feet; one sold in 2015, remaining, all active – 3 vessels 221 feet; all active • Current series under constructions: 2 vessels of 221 feet • U.S. built: • Competitive in international markets – 5 in West Africa, 3 in Mexico and 1 in Middle East, • Extra accommodation: 36+ person • Small envelope, big capacities 1 • Special features: 4 vessels in this size SPS class compliant (2 on order) 1 Special Purpose Ship class vessels are built to comply with the IMO Code of Safety for Special Purpose Ships 2008. No other PSV’s in this size category worldwide are SPS compliant. seacormarine.com 40

Limited Near-Term Contractual Maturities (in millions) Outstanding Debt Maturities Debt Debt Issue: Jun-19 2019 2020 2021 2022 2023 Thereafter Convertible Senior Notes 125.0–– –– 125.0 – SEACOR Marine Foreign Holdings Syndicated Credit Facility 120.2 6.5 13.0 13.0 13.0 74.9 – Falcon Global USA Term Loan Facility 109.1 – 8.0 9.7 9.7 9.7 72.0 Sea-Cat Crewzer III Term Loan Facility 25.4 1.2 2.5 2.5 2.5 2.5 14.2 Windcat Workboats Facilities 24.6–– 24.6–– – Falcon Global USA Revolver 15.0 – – ––– 15.0 SEACOR 88/888 Term Loan 11.0–– –– 11.0 – BNDES Finance Notes 4.3 1.0 2.0 1.3 – – – Outstanding Principal 434.6 8.7 25.5 51.1 25.2 222.9 101.2 Discount/Issuance Costs (34.9) Outstanding Debt 399.7 seacormarine.com 41Limited Near-Term Contractual Maturities (in millions) Outstanding Debt Maturities Debt Debt Issue: Jun-19 2019 2020 2021 2022 2023 Thereafter Convertible Senior Notes 125.0–– –– 125.0 – SEACOR Marine Foreign Holdings Syndicated Credit Facility 120.2 6.5 13.0 13.0 13.0 74.9 – Falcon Global USA Term Loan Facility 109.1 – 8.0 9.7 9.7 9.7 72.0 Sea-Cat Crewzer III Term Loan Facility 25.4 1.2 2.5 2.5 2.5 2.5 14.2 Windcat Workboats Facilities 24.6–– 24.6–– – Falcon Global USA Revolver 15.0 – – ––– 15.0 SEACOR 88/888 Term Loan 11.0–– –– 11.0 – BNDES Finance Notes 4.3 1.0 2.0 1.3 – – – Outstanding Principal 434.6 8.7 25.5 51.1 25.2 222.9 101.2 Discount/Issuance Costs (34.9) Outstanding Debt 399.7 seacormarine.com 41

Reconciliation of Consolidated Direct Vessel Profit (DVP) to Operating Income (Loss) 2014 2015 2016 2017 2018 Q2 2019 YTD Time Charter Statistics: Average Rates Per day $ 12,011 $ 10,079 $ 7,114 $ 5,972 $ 7,282 $ 7,237 Fleet Utilization 81% 69% 54% 54% 62% 66% Fleet Available Days 51,047 47,661 48,161 49,338 49,553 23,072 Operating Revenues: Time charter $ 495,112 $ 330,890 $ 186,327 $ 160,545 $ 222,252 $ 110,900 Bareboat charter 4,671 8,598 8,833 4,636 4,635 2,532 Other marine services 30,161 29,380 20,476 8,602 26,722 7,162 529,944 368,868 215,636 173,783 253,609 120,594 Direct Costs and Expenses: Operating: Personnel 188,284 150,606 95,144 81,500 95,028 46,717 Repairs and maintenance 49,304 36,371 21,282 27,655 33,279 17,682 Drydocking 38,625 17,781 7,821 9,035 11,587 4,953 Insurance and loss reserves 14,108 9,898 5,682 6,524 7,074 3,366 Fuel, lubes and supplies 28,723 20,762 12,088 12,032 16,975 7,645 Other 18,569 18,045 7,331 9,905 11,148 7,439 337,613 253,463 149,348 146,651 175,091 87,802 Direct Vessel Profit (Loss) 192,331 114,405 66,288 27,132 78,518 32,792 Other Costs and Expenses: Operating: Lease Expense 27,479 22,509 17,577 12,948 11,475 8,465 Administrative and general 58,353 53,085 49,308 56,217 52,813 23,639 Depreciation and amortization 64,615 61,729 58,069 62,779 72,246 34,687 150,447 137,323 124,954 131,944 136,534 66,791 Gains (Losses) on Asset Dispositions and Impairments 26,545 (17,017) (116,222) (23,547) (8,747) (3,489) Operating Income (Loss) $ 68,429 $ (38,935) $ (174,888) $ (128,359) $ (66,763) $ (37,488) seacormarine.com 42Reconciliation of Consolidated Direct Vessel Profit (DVP) to Operating Income (Loss) 2014 2015 2016 2017 2018 Q2 2019 YTD Time Charter Statistics: Average Rates Per day $ 12,011 $ 10,079 $ 7,114 $ 5,972 $ 7,282 $ 7,237 Fleet Utilization 81% 69% 54% 54% 62% 66% Fleet Available Days 51,047 47,661 48,161 49,338 49,553 23,072 Operating Revenues: Time charter $ 495,112 $ 330,890 $ 186,327 $ 160,545 $ 222,252 $ 110,900 Bareboat charter 4,671 8,598 8,833 4,636 4,635 2,532 Other marine services 30,161 29,380 20,476 8,602 26,722 7,162 529,944 368,868 215,636 173,783 253,609 120,594 Direct Costs and Expenses: Operating: Personnel 188,284 150,606 95,144 81,500 95,028 46,717 Repairs and maintenance 49,304 36,371 21,282 27,655 33,279 17,682 Drydocking 38,625 17,781 7,821 9,035 11,587 4,953 Insurance and loss reserves 14,108 9,898 5,682 6,524 7,074 3,366 Fuel, lubes and supplies 28,723 20,762 12,088 12,032 16,975 7,645 Other 18,569 18,045 7,331 9,905 11,148 7,439 337,613 253,463 149,348 146,651 175,091 87,802 Direct Vessel Profit (Loss) 192,331 114,405 66,288 27,132 78,518 32,792 Other Costs and Expenses: Operating: Lease Expense 27,479 22,509 17,577 12,948 11,475 8,465 Administrative and general 58,353 53,085 49,308 56,217 52,813 23,639 Depreciation and amortization 64,615 61,729 58,069 62,779 72,246 34,687 150,447 137,323 124,954 131,944 136,534 66,791 Gains (Losses) on Asset Dispositions and Impairments 26,545 (17,017) (116,222) (23,547) (8,747) (3,489) Operating Income (Loss) $ 68,429 $ (38,935) $ (174,888) $ (128,359) $ (66,763) $ (37,488) seacormarine.com 42

OSV Day Rate Index per Quarter 200 20% 150 increase 100 50 0 AHTS Dayrates Index PSV/FSV Dayrates Index Source: Clarksons’ World Offshore Register seacormarine.com 43OSV Day Rate Index per Quarter 200 20% 150 increase 100 50 0 AHTS Dayrates Index PSV/FSV Dayrates Index Source: Clarksons’ World Offshore Register seacormarine.com 43

Global Rate Indicators: YoY Day Rate Comparison (in US $) AHTS Average Day Rates PSV/FSV Average Day Rates $44,240 $25,959 $17,510 $28,195 $24,408 $11,857 $19,469 $11,602 $11,237 $16,826 $15,720 $9,186 2014 2015 2016 2017 2018 Q2 2019 2014 2015 2016 2017 2018 Q2 2019 Source: Clarksons’ World Offshore Register seacormarine.com 44Global Rate Indicators: YoY Day Rate Comparison (in US $) AHTS Average Day Rates PSV/FSV Average Day Rates $44,240 $25,959 $17,510 $28,195 $24,408 $11,857 $19,469 $11,602 $11,237 $16,826 $15,720 $9,186 2014 2015 2016 2017 2018 Q2 2019 2014 2015 2016 2017 2018 Q2 2019 Source: Clarksons’ World Offshore Register seacormarine.com 44

Utilization – PSVs & FSVs 100 71% increase (SEACOR Marine utilization percentage between Q2 2017 and Q2 2019) 75 50 25 0 Global Total Utilization (PSV & FSV) SEACOR Marine Utilization (PSV & FSV) Source: Clarksons’ World Offshore Register Note: Percentage of utilization includes all vessels of same series seacormarine.com 45Utilization – PSVs & FSVs 100 71% increase (SEACOR Marine utilization percentage between Q2 2017 and Q2 2019) 75 50 25 0 Global Total Utilization (PSV & FSV) SEACOR Marine Utilization (PSV & FSV) Source: Clarksons’ World Offshore Register Note: Percentage of utilization includes all vessels of same series seacormarine.com 45

Utilization – Liftboats 100 194% increase (SEACOR Marine utilization percentage between Q2 2017 and Q2 2019) 75 50 25 0 Global Total Utilization (Liftboats) Total Utilization in GoM (Liftboats) SEACOR Marine Utilization (Liftboats) Source: Clarksons’ World Offshore Register Note: Percentage of utilization includes all vessels of same series seacormarine.com 46Utilization – Liftboats 100 194% increase (SEACOR Marine utilization percentage between Q2 2017 and Q2 2019) 75 50 25 0 Global Total Utilization (Liftboats) Total Utilization in GoM (Liftboats) SEACOR Marine Utilization (Liftboats) Source: Clarksons’ World Offshore Register Note: Percentage of utilization includes all vessels of same series seacormarine.com 46

Global Supply of OSVs continue to reduce Number of Stacked Vessels (Global per Quarter) Stacked OSVs per Publicly Traded Owners 2,000 (As of June 30, 2019) 12 17 1,500 48 27 1,000 33 SEACOR Marine Publicly Traded Owners 500 0 Total Stacked OSVs Stacked OSVs Above 15 Years of Age Stacked OSVs for 3 Years and Longer Source: Clarksons’ World Offshore Register Note: OSV count includes AHTS, PSV and FSVs; As of June 30, 2019, there are over 1,500 OSVs stacked globally of which 39% are old generation vessels (above 15 years of age) and 33% have been stacked for 3 years and longer. As of June 30, 2019, SMHI had 3 vessels stacked for 3 years or longer seacormarine.com 47Global Supply of OSVs continue to reduce Number of Stacked Vessels (Global per Quarter) Stacked OSVs per Publicly Traded Owners 2,000 (As of June 30, 2019) 12 17 1,500 48 27 1,000 33 SEACOR Marine Publicly Traded Owners 500 0 Total Stacked OSVs Stacked OSVs Above 15 Years of Age Stacked OSVs for 3 Years and Longer Source: Clarksons’ World Offshore Register Note: OSV count includes AHTS, PSV and FSVs; As of June 30, 2019, there are over 1,500 OSVs stacked globally of which 39% are old generation vessels (above 15 years of age) and 33% have been stacked for 3 years and longer. As of June 30, 2019, SMHI had 3 vessels stacked for 3 years or longer seacormarine.com 47

Active Offshore Rigs 457 in Total Mediterranean 40 North America NW Europe 58 58 Asia Pacific 90 MidEast/ISC 158 Central & West Africa 28 25 South America Source: Clarksons’ World Offshore Register as of July 31, 2019 seacormarine.com 48Active Offshore Rigs 457 in Total Mediterranean 40 North America NW Europe 58 58 Asia Pacific 90 MidEast/ISC 158 Central & West Africa 28 25 South America Source: Clarksons’ World Offshore Register as of July 31, 2019 seacormarine.com 48

Brent Oil Price vs Total Working Drilling Units Global Statistics 3000 90 80 2500 70 2000 60 50 1500 40 1000 30 20 500 10 0 0 Working Rig Count Brent Crude Source: Clarksons’ World Offshore Register seacormarine.com 49 No of Drilling Units Axis TitBrent Oil Price (US$)Brent Oil Price vs Total Working Drilling Units Global Statistics 3000 90 80 2500 70 2000 60 50 1500 40 1000 30 20 500 10 0 0 Working Rig Count Brent Crude Source: Clarksons’ World Offshore Register seacormarine.com 49 No of Drilling Units Axis TitBrent Oil Price (US$)

Management Team • John Gellert – President, Chief Executive Officer, and Director Mr. Gellert has been President and Chief Executive Officer since our formation and a member of our board of directors since June 1, 2017. In his previous appointment, Mr. Gellert was Co-Chief Operating Officer of SEACOR Holdings Inc. since February 23, 2015, and from May 2004 to February 2015, Mr. Gellert was Senior Vice President of SEACOR Holdings Inc. In July 2005, Mr. Gellert was appointed President of SEACOR Holdings Inc.'s Offshore Marine Services segment, a capacity in which he served until his current appointment. From June 1992, when Mr. Gellert joined SEACOR Holdings Inc. until July 2005, he had various financial, analytical, chartering and marketing roles within SEACOR Holdings Inc. In addition, Mr. Gellert is an officer and director of certain SEACOR Marine subsidiaries. • Jesús Llorca – Executive Vice President and Chief Financial Officer Mr. Llorca has been our Executive Vice President and Chief Financial Officer since April 2, 2018, and previously served as our Executive Vice President of Corporate Development since June 1, 2017. From May 2007 to May 2017, Mr. Llorca served as a Vice President of SEACOR Holdings Inc. Mr. Llorca has over 18 years of industry experience and possesses critical knowledge of the Company’s operations, finances and strategies, as well as a deep understanding of its business segments. • Anthony Weller – Senior Vice President and Managing Director, International Division Mr. Weller has been Senior Vice President and Managing Director of our International Division since June 1, 2017. Prior to his appointment and since 2009, Mr. Weller served as Managing Director of SEACOR Holdings Inc.'s Offshore Marine Services' International Division. Mr. Weller has over 40 years of industry experience and is a Master Mariner. seacormarine.com 50Management Team • John Gellert – President, Chief Executive Officer, and Director Mr. Gellert has been President and Chief Executive Officer since our formation and a member of our board of directors since June 1, 2017. In his previous appointment, Mr. Gellert was Co-Chief Operating Officer of SEACOR Holdings Inc. since February 23, 2015, and from May 2004 to February 2015, Mr. Gellert was Senior Vice President of SEACOR Holdings Inc. In July 2005, Mr. Gellert was appointed President of SEACOR Holdings Inc.'s Offshore Marine Services segment, a capacity in which he served until his current appointment. From June 1992, when Mr. Gellert joined SEACOR Holdings Inc. until July 2005, he had various financial, analytical, chartering and marketing roles within SEACOR Holdings Inc. In addition, Mr. Gellert is an officer and director of certain SEACOR Marine subsidiaries. • Jesús Llorca – Executive Vice President and Chief Financial Officer Mr. Llorca has been our Executive Vice President and Chief Financial Officer since April 2, 2018, and previously served as our Executive Vice President of Corporate Development since June 1, 2017. From May 2007 to May 2017, Mr. Llorca served as a Vice President of SEACOR Holdings Inc. Mr. Llorca has over 18 years of industry experience and possesses critical knowledge of the Company’s operations, finances and strategies, as well as a deep understanding of its business segments. • Anthony Weller – Senior Vice President and Managing Director, International Division Mr. Weller has been Senior Vice President and Managing Director of our International Division since June 1, 2017. Prior to his appointment and since 2009, Mr. Weller served as Managing Director of SEACOR Holdings Inc.'s Offshore Marine Services' International Division. Mr. Weller has over 40 years of industry experience and is a Master Mariner. seacormarine.com 50

Management Team • Andrew H. Everett II – Senior Vice President, General Counsel and Secretary Mr. Everett has been our Senior Vice President, General Counsel and Secretary since January 22, 2018. Prior to his appointment, Mr. Everett was an associate in the Global Corporate Group of Milbank, Tweed, Hadley & McCloy LLP from 2008 until 2018. Mr. Everett received his J.D. from Boston College Law School and B.S. from Bentley University. • Gregory S. Rossmiller – Senior Vice President and Chief Accounting Officer Mr. Rossmiller has been our Senior Vice President and Chief Accounting Officer since April 17, 2018. Prior to his appointment, Mr. Rossmiller was the Chief Financial Officer - North America for Applus Energy and Industry (a division of Applus Services S.A.) since June 2009. Mr. Rossmiller was Corporate Controller of Pride International from 2005 to 2009, and Controller of Nabors Drilling International Limited (a subsidiary of Nabors Industries, Ltd.) from 2000 to 2005 and Assistant Controller from 1997 to 2000. Prior to 1997, Mr. Rossmiller held audit positions with Cooper Industries and with the accounting firm of Deloitte & Touche. • Tim Clerc – Vice President of Engineering Mr. Clerc has been our Vice President of Engineering since January 18, 2019, and previously served as our Manager of Engineering since 2000, Prior to SEACOR Marine, Mr. Clerc spent 17 years with Swire Pacific Offshore as Chief Engineer, Project Manager, and New Construction Manager; as well as, 14 years serving the British Merchant Navy where he began his career as an Engineering Officer Cadet and rose to the rank of Chief Engineer. • Robbert van Rijk – Vice President of Offshore Wind Services Mr. van Rijk has been Vice President of Offshore Wind Services since September 2019 and Managing Director of Windcat Workboats since 2002, a company which he co-founded with Neil Clarkson and was acquired by SEACOR Marine in 2011. Prior to his involvement with Windcat, Mr. van Rijk was the principal at Bais Marltiem BV, a marine brokerage firm based in the Netherlands. Mr. van Rijk is a marine engineer and naval architect and holds an MBA. seacormarine.com 51Management Team • Andrew H. Everett II – Senior Vice President, General Counsel and Secretary Mr. Everett has been our Senior Vice President, General Counsel and Secretary since January 22, 2018. Prior to his appointment, Mr. Everett was an associate in the Global Corporate Group of Milbank, Tweed, Hadley & McCloy LLP from 2008 until 2018. Mr. Everett received his J.D. from Boston College Law School and B.S. from Bentley University. • Gregory S. Rossmiller – Senior Vice President and Chief Accounting Officer Mr. Rossmiller has been our Senior Vice President and Chief Accounting Officer since April 17, 2018. Prior to his appointment, Mr. Rossmiller was the Chief Financial Officer - North America for Applus Energy and Industry (a division of Applus Services S.A.) since June 2009. Mr. Rossmiller was Corporate Controller of Pride International from 2005 to 2009, and Controller of Nabors Drilling International Limited (a subsidiary of Nabors Industries, Ltd.) from 2000 to 2005 and Assistant Controller from 1997 to 2000. Prior to 1997, Mr. Rossmiller held audit positions with Cooper Industries and with the accounting firm of Deloitte & Touche. • Tim Clerc – Vice President of Engineering Mr. Clerc has been our Vice President of Engineering since January 18, 2019, and previously served as our Manager of Engineering since 2000, Prior to SEACOR Marine, Mr. Clerc spent 17 years with Swire Pacific Offshore as Chief Engineer, Project Manager, and New Construction Manager; as well as, 14 years serving the British Merchant Navy where he began his career as an Engineering Officer Cadet and rose to the rank of Chief Engineer. • Robbert van Rijk – Vice President of Offshore Wind Services Mr. van Rijk has been Vice President of Offshore Wind Services since September 2019 and Managing Director of Windcat Workboats since 2002, a company which he co-founded with Neil Clarkson and was acquired by SEACOR Marine in 2011. Prior to his involvement with Windcat, Mr. van Rijk was the principal at Bais Marltiem BV, a marine brokerage firm based in the Netherlands. Mr. van Rijk is a marine engineer and naval architect and holds an MBA. seacormarine.com 51