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SBM has reached an agreement on deferred prosecution as part of a criminal investigation filed today in the Southern District of Texas, which accuses the company of conspiracy to violate FCPA anti-bribery rules. The case is assigned to U.S. District Judge David Hittner. In addition, SBM USA pleaded guilty and was convicted by Judge Hittner for an avowed criminal investigation accusing the company of conspiracy to violate FCPA anti-bribery rules. Pursuant to its agreement with the Ministry, SBM agreed to pay the United States a total fine of $238 million, including a fine of $500,000 and $13.2 million in criminal forfeiture that SBM was willing to pay on behalf of SBM USA. The agreements do not protect individuals from criminal prosecution, regardless of their membership in the company. SBM Offshore will continue to cooperate with the DOJ under the deferred prosecution and admission of guilt agreement. SBM has reached an agreement on deferred prosecutions related to criminal investigation filed Nov. 29 in the Southern District of Texas, which accused the company of conspiracy to violate FCPA anti-corruption rules. The case is assigned to U.S. District Judge David Hittner.

The Ministry reached this solution on the basis of a number of factors, including the fact that, although SBM drew the attention of the Fraud Department and the Dutch authorities to the conduct, it was not fully disclosed for about a year; That SBM cooperated with the Ministry`s investigation, including an accelerated investigation into corrupt practices related to Kazakhstan and Iraq; and that SBM has taken significant corrective measures, including the dismissal and reinforcement of staff involved in criminal behaviour, the termination of long-standing contracts of public authorities and the implementation of a new and improved internal control system to combat and mitigate corruption and compliance risks. As a result, SBM was entitled to a 25% reduction at the bottom of the U.S. criminal guidelines. In addition, the Ministry examined SBM`s inability to pay a fine. The latest offshore SBM investigation is linked to allegations it has dispelled in the United States, Brazil and the Netherlands, the company said. SBM Offshore this month entered into a three-year reporting obligation imposed as part of a lawsuit agreement with the U.S. Department of Justice over bribery violations on three continents, postponed until 2017, the company said. The agreements relate to a conspiracy to violate the Foreign Corrupt Practices Act. The resolution concerns Brazil, Equatorial Guinea, Angola, Iraq and Kazakhstan from 1996 to 2012.

The Company acknowledges, accepts and acknowledges that it is responsible for the actions of its officers, directors, employees and representatives, in accordance with the U.S. Corrupt Practices Act.