TechnipFMC PLC at Barclays CEO Energy & Power Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: J. David Anderson - Barclays Services Corp - Analyst : So Doug, maybe we could start off here. Your business is really in the sweet spot. Over the years, when you see capital equipment companies, you either get orders, or you get earnings growth. You very rarely get both. You're now in this interesting sweet spot here. I was wondering if you could talk about how you're seeing those different elements developing over the next couple of years for the interplay. I mean, do you think you should see earnings growth and order growth over the next several years were based upon what you are seeing?

Question: J. David Anderson - Barclays Services Corp - Analyst : So you're on track to book $30 billion in orders over the last three years, if you include this year. And you recently said expect another $10 billion next year. I'm curious how that order book has evolved. In other words, if we go back to 2023 versus, say, 2026, what's different between, say, the customers or the type of projects or the size? Has anything changed or evolved in that backlog over the last three years?

Question: J. David Anderson - Barclays Services Corp - Analyst : Some of that -- curious how you see orders from here changing. Is this going to be more about exploration converting into development? We heard (inaudible) talking about that on their call. I think as in Namibia, they were talking about the development phase. Is it going to be more brownfield? I know you just announced a flexible order today. Can you just talk to me about some of those components of maybe what could change or what's going to be additive to your orders in the coming years?

Question: J. David Anderson - Barclays Services Corp - Analyst : Doug, last year, when visited your facility, you made an interesting comment, which really stuck to me. You said, my competition in shale. You talked about shale really. Can you expand on that a little bit for the audit? I thought it was really fast (inaudible)

Question: J. David Anderson - Barclays Services Corp - Analyst : So I want to dig into some of the differences between last cycle in the cycle. That's clearly one of the big ones. But Subsea 2.0 has been a big one. I was wondering can you talk about a little bit, so it's about 30% of the order book to -- I'm sorry, so 70% of the order book today, 30% of revenue. How do you see that changing? How does the revenue component like by '26 or whatever. How are you thinking about the overall?

Question: J. David Anderson - Barclays Services Corp - Analyst : Why would some not use Subsea 2.0?

Question: J. David Anderson - Barclays Services Corp - Analyst : Subsea 1.0 was the prior cycle back when you and I both had a little bit less gray. Well, I had -- you're looking to had -- well, I'm fascinated by looking back at '06 to '14 and -- or '09 to '14 and how different that market was for the subsea market today. I want to explore a couple of things with you on that. So I recall back in the peak of the market in 2014. I think it was Total called out $85 a barrel is the incremental dollar in offshore. That's now what is -- cut in half. As you were saying, it's the most economic barrel. How did they get there? How did we cut that down in half. Was it how had to do with Subsea had to do and other things. Can you sort of just that?

Question: J. David Anderson - Barclays Services Corp - Analyst : So we've got a lot of standardization. You've talked about Subsea 2.0. It seems to me like maybe technology differentiation is less important than it's really about execution and delivery to market. Is that -- this is where you try to get my blood pressure up.

Question: J. David Anderson - Barclays Services Corp - Analyst : I am the last person is going to downplay your technology. So sorry about that. I didn't consider that direction. On the Subsea 2.0, can you talk a little bit about your roof flying your manufacturing capacity? Are you -- do you need to expand more? Just give us an update where you. Are you set up for the next two, three, four years? How are you thinking about that -- REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 02, 2025 / 5:15PM, FTI.N - TechnipFMC PLC at Barclays CEO Energy & Power Conference

Question: J. David Anderson - Barclays Services Corp - Analyst : So maybe since 2.5 if in the robotics in that -- maybe in the last few minutes we have here, I'd like to talk a little bit about your surface business. Can you talk internationally. But can you tell us -- can you remind us a little bit about where your key countries are in terms of driving that business internationally.

Question: J. David Anderson - Barclays Services Corp - Analyst : Now you recently built a new facility in Saudi.

Question: J. David Anderson - Barclays Services Corp - Analyst : On balance, would you expect your international business to see growth in 2026? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 02, 2025 / 5:15PM, FTI.N - TechnipFMC PLC at Barclays CEO Energy & Power Conference

Question: J. David Anderson - Barclays Services Corp - Analyst : And it's a very different business and more project based in Saudi. So has that been versus transactional.