Slide 1: Company Overview
Company Overview March 2021 tdw.com
Slide 2: Forward-looking Statements
Forward-looking Statements In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Tidewater Inc. (the “Company”) notes that certain statements set forth in this presentation contain certain forward-looking statements which reflect our current view with
Slide 3: 4Q + 2020 Update
4Q + 2020 Update Pivoting in response to industry downturn, generating Free Cash Flow tdw.com
Slide 4: Successfully Navigating Market Challenges
Successfully Navigating Market Challenges Resilient cash Record Safety Disciplined Commitment to flow generation Performance Capital Allocation Carbon Reduction § Free cash flow § Achieved record § Rapidly scaled § Vessels outfitted positive for Q4 and global safety back dry dock with hybrid full ye
Slide 5: ESG
ESG Exercising safety and responsibility, onshore and offshore tdw.com
Slide 6: Exercising Safety & Responsibility
Exercising Safety & Responsibility Safety Environment Social Governance § The safety of our employees § Continued operational § Investment in community § Board-level commitment to is our highest priority; we efficiency improvements and betterment in the areas in sustainability consistently maintain
Slide 7: Financial & Operational Highlights
Financial & Operational Highlights Low leverage with a strategically-location modern fleet tdw.com
Slide 8: Industry-Leading Leverage with a Modern Fleet
Industry-Leading Leverage with a Modern Fleet Market Cap and Leverage 1 Tidewater Fleet NBV ($mm)2 $700 120% $1,000 97% 99% $600 88% 100% $800 83% Active Stacked $658 $500 65% 80% $600 $400 Market Cap. 60% $300 6% (US$mm) $400 40% $200 $200 $107 $100 20% $8 $0 0% $0 Deepwater Towing Supply Other r a
Slide 9: High-Grading Ongoing
High-Grading Ongoing Changes to Tidewater Fleet End Q4 2019 to End Q4 2020 Fleet Optimization Continues 300 14% 250 217 56 200 172 17% 11 Deepwater 150 19 35 Towing Supply 100 20% 172 Other 152 161 50 114 23% Vessels Active 60% Stacked 0 AHFS as of Disposed Acquired as of 66% 12/31/2019 12/31/2020 A
Slide 10: Active Fleet Status
Active Fleet Status Active Fleet 114 Vessels North Sea & Mediterranean - 19 Deepwater Average. Age 10.4 Years Americas - 18 Deepwater Middle East - 7 Towing/Supply West Africa & Pacific - 2 Other - 15 Deepwater - 11 Deepwater Active Utilization - 16 Towing/Supply - 6 Towing/Supply 77% - 20 Other All
Slide 11: Market Status
Market Status Positioned for growth tdw.com
Slide 12: Global OSV Dayrate Development
Global OSV Dayrate Development $25,000 $20,000 $15,000 $10,000 $5,000 $0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Average OSV Day Rates Average Tidewater
Slide 13: Rig & OSV Demand Growth
Rig & OSV Demand Growth Market pressure to persist into 2022 MODU Supply/Demand OSV Supply/Demand 900 100% 4,000 100% 95% 3,500 95% 800 90% 90% 700 3,000 85% 85% 600 2,500 80% 80% 500 75% 2,000 75% 400 70% 1,500 70% 300 65% 65% 1,000 200 60% 60% 100 500 55% 55% 0 50% 0 50% Jan-13 Jan-14 Jan-15 Jan-1
Slide 14: Effective Sector Fleet Supply Set to Shrink
Effective Sector Fleet Supply Set to Shrink OSVs On Order Inactive OSVs Viable Under Construction <1% 185 No. of 369 Status % of Fleet Units 172 90, 47% On Order 211 10% 103, 53% Idle 369 11% Laid-up 1,110 32% 143 346 Laid-up >2 608 17% 108 yrs 156 Launched Unlaunched Idle Laid-up <1 yr Laid-up 1-2
Slide 15: A Highly Fragmented Market
A Highly Fragmented Market Owners by OSV Fleet Size 1% 1% (incl. Tidewater) 2% 9% <10 10-25 25-50 50-100 87% >100 Fewer than 10 vessels in fleet Source: IHS MarineBase November 2020 tdw.com
Slide 16: Tidewater Locations
Tidewater Locations Tidewater’s Vision To be the global leader in the offshore industry by providing, in the most cost-efficient manner possible, unmatched support and exceptional local service to our customers, utilizing the safest, most highly skilled workforce. • Global Presence • 172 Vessels • 5
Slide 17: Thank you
‘|’ TIDEWATER Thank you tdw.com