TechnipFMC PLC at JPMorgan Energy, Power & Renewables Conference Transcript

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

Question: Arun Jayaram - JPMorgan - Analyst : Doug, I was wondering if you could start with the company's core strategy and what you think is unique about your business model versus your peers.

Question: Arun Jayaram - JPMorgan - Analyst : Doug, I know you've taken inspiration for the evolution of your business model, Subsea 2.0, in companies outside of the oil and gas industry, including the automakers, Toyota. I was wondering if you could maybe highlight some of those learnings and how you've adapted that to FTI?

Question: Arun Jayaram - JPMorgan - Analyst : All right. Let's shift gears, talk a little bit about subsea. How would you characterize the offshore spending picture, including in your core deepwater markets, markets like the US Gulf of Mexico, Brazil, and West Africa?

Question: Arun Jayaram - JPMorgan - Analyst : I mean, US, North Sea.

Question: Arun Jayaram - JPMorgan - Analyst : New activity. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 18, 2024 / 5:45PM, FTI.N - TechnipFMC PLC at JPMorgan Energy, Power & Renewables Conference

Question: Arun Jayaram - JPMorgan - Analyst : Okay. Let's talk about some of the emerging basins, Guyana, Suriname, Namibia, Mozambique. And what are some of the new emerging basins?

Question: Arun Jayaram - JPMorgan - Analyst : Doug, I wanted to ask you about how some of your technological innovation is leading to unique commercial opportunities. Maybe start with your all-electric subsea solution.

Question: Arun Jayaram - JPMorgan - Analyst : Doug, I wanted to talk to you about your outlook for subsea. You updated your outlook in February of 2023 for 2025. And that was a raise relative to your 2021 Investor Day. So your current 2025 outlook is for $8 billion of Subsea revenue and 18% margins. Just general thoughts on this outlook, confidence on achieving this because you did provide this -- it's a lofty guide when you provided it. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 18, 2024 / 5:45PM, FTI.N - TechnipFMC PLC at JPMorgan Energy, Power & Renewables Conference

Question: Arun Jayaram - JPMorgan - Analyst : Great. Well, let's talk about orders, important part of your business, it provides that earnings visibility. You booked $9.7 billion of orders last year. You updated your three-year order guide to '23, '24, '25 to $30 billion from $25 billion previously with expectations that this year's orders will approach $10 billion. Give us a sense of the $30 billion three-year number, what's included in that? And does it include some of the activity potential in some of the emerging basins?

Question: Arun Jayaram - JPMorgan - Analyst : You've somewhat touched on this, but just wanted to get maybe a little bit more color. How much visibility should investors have about FTI's prospects beyond 2025?

Question: Arun Jayaram - JPMorgan - Analyst : My final question is just on margins. Your 2024 guide is underpinned by a subsea target of 16%. We talked about the 18% for 2025. How should investors view this 18% margin profile kind of next year? And maybe talk to us a little bit about what pricing assumptions are embedded in that.

Question: Arun Jayaram - JPMorgan - Analyst : (laughter) Okay. Great. All right. We have time for maybe a question or two, one in the back. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 18, 2024 / 5:45PM, FTI.N - TechnipFMC PLC at JPMorgan Energy, Power & Renewables Conference Unidentified Participant Yeah. Thank you. One question regarding the HISEP project that you told that you separate the CO2 on the seabed, just two questions. Can that be done also with water? And since we saw on the last years, the offshore projects globally not being more economically feasible because of gas and of water. Could this maybe be groundbreaking for maybe increased oil recovery in projects that were like left behind? And just a little bit about this.

Question: Arun Jayaram - JPMorgan - Analyst : Great. Doug, I think we're out of time. Thank you so much.