Ecosse Subsea Systems joined by our new colleagues from Oceaneering http://www.ecosse-subsea.com/oceaneering-acquires-ecosse-subsea-limited/ http://investors.oceaneering.com/financial-press-releases/press-release-details/2018/Oceaneering-Acquires-Ecosse-Subsea-Limited/default.aspx

Oceaneering Acquires Ecosse Subsea Limited Expands Service Line Capabilities to the Growing Renewable Energy Market HOUSTON, March 5, 2018 – Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) announced today that one of its wholly owned subsidiaries has acquired Ecosse Subsea Limited ("Ecosse"), a provider of offshore engineering, seabed preparation, route clearance and trenching services to the renewable energy and oil and gas industries, for approximately 50 million pounds sterling. Headquartered in Aberdeen, Scotland, Ecosse builds and operates seabed preparation, route clearance and trenching tools for submarine cables and pipelines on an integrated basis that includes vessels, ROVs and survey services. Enabling technologies acquired in the transaction include Ecosse’s modular SCAR Seabed System, capable of completing the entire trenching work scope (route preparation, boulder clearance, trenching and backfill), and its newly developed SCARJet trenching system. The SCARJet is an evolutionary trenching system designed for use with standard work class ROVs and adds state of the art jetting and post-lay trenching capabilities to the existing pre-cut methods offered by the SCAR plowing tools. Roderick A. Larson, President and Chief Executive Officer of Oceaneering, said, "We are pleased to complete the acquisition of Ecosse, which we believe offers Oceaneering the opportunity to expand our service line capabilities and grow our market position within the offshore renewable energy market, and provide our customers with proven tools to optimize installation projects. The addition of Ecosse reflects our commitment to expand into the adjacent renewable energy market to more comprehensively serve the offshore energy industry. We expect the acquisition to be accretive to Oceaneering’s 2018 cash flow and earnings.” Mike Wilson, former Chairman of Ecosse, said, “This is a strategic opportunity for our customers and our employees. Oceaneering has outstanding people, a global presence, innovative technologies and diversified services and products. Together we can establish a stronger platform to take on even larger and higher profile projects in the renewables and oil and gas industries.” Mark Gillespie, Director, Global Renewables and Subsea Projects of Ecosse, said, “We are excited to become part of Oceaneering. With Oceaneering’s global strength, we expect to be better positioned to further penetrate the growing and emerging renewables and cable markets in Europe and the United States.” Larson concluded, "We are looking forward to the contributions that Ecosse will make to our operations and growth, and we welcome its employees to the Oceaneering team.” Oceaneering intends to report the future financial results of Ecosse through Oceaneering’s Subsea Projects segment. In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, Oceaneering International, Inc. cautions that statements in this press release which are forward-looking involve risks and uncertainties that may impact Oceaneering’s actual results. The forward-looking statements in this press release concern Oceaneering’s: expectation that Ecosse can establish a stronger platform to take on even larger and higher profile projects with Oceaneering in the renewables an oil and gas industries; expectation that Ecosse will be better positioned to further penetrate the growing and emerging renewables and cable markets; belief the acquisition will expand its service line capabilities and grow our market position within the renewable energy market, and provide its customers with proven tools to optimize their offshore installation projects; expected contributions from Ecosse and its personnel; expectation that this acquisition will be accretive to 2018 cash flow and earnings; and plan to include Ecosse’s financial results in Oceaneering’s Subsea Projects segment. Although Oceaneering’s management believes that the expectations reflected in these forward-looking statements are reasonable, Oceaneering can give no assurance that the expectations will prove to have been correct. The forward-looking statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including, without limitation, contract termination and risks related to the integration and operation of the acquired business. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. These and other risks are more fully described in Oceaneering’s latest annual report on Form 10-K and its other periodic filings with the Securities and Exchange Commission. Oceaneering undertakes no obligation to update or revise any forward-looking statements to reflect new information or the occurrence of unanticipated events or otherwise, except as required by applicable law. Oceaneering is a global provider of engineered services and products, primarily to the offshore energy industry. Through the use of its applied technology expertise, Oceaneering also serves the defense, entertainment and aerospace industries. For more information on Oceaneering, please visit www.oceaneering.com. For more information on Ecosse, please visit www.ecosse-subsea.com. Investor Contact for Oceaneering: Suzanne Spera Director, Investor Relations Oceaneering International, Inc. +1 713 329 4707 investorrelations@oceaneering.com Customer Contact for Ecosse: Mark Gillespie Director, Global Renewables and Subsea Projects +44 1330 826870 mark.gillespie@ecosse-subsea.com http://www.ecosse-subsea.com/oceaneering-acquires-ecosse-subsea-limited/

Ecosse Subsea Systems (ESS) has been awarded £2.5 million funding by Wave Energy Scotland (WES) to develop a magnetic gear system which could be pivotal in developing the next generation of wave energy convertors. Development work will take place over the next two years in a collaborative project with Bathwick Electrical Design, Supply Design and Pure Marine, with additional sub-contract support provided by the University of Edinburgh and Applied Renewables Research. The award is part of WES’s Power Take-Off programme which is aimed at producing reliable technology which will result in cost-effective wave energy generation. WES, a subsidiary of Highlands and Islands Enterprise and funded by the Scottish Government, has so far awarded £25.4 million to 61 projects and worked with more than 170 organisations in the quest to overcome technical challenges facing the wave energy sector. ESS will project manage from its Banchory headquarters the development and testing of its Power Electronic Controlled Magnet Gear (PECMAG) PTO system. The all-electric system is built from smaller modules with magnetic gearing that is being developed to suit a variety of wave energy converter devices and will feature both rotary and linear actuator systems. Michael Cowie, ESS Technical Director, said: “We are delighted to be leading this collaborative project which features some of the brightest thinkers and innovators working in wave energy conversion. The WES funding means we can take this emerging technology on to the trials and testing stages in real-sea conditions and if all goes well, onwards to full commercialisation and market entry. “We believe the efficiency and reliability advantages of our PTO system are critical to producing wave energy converters that are cost competitive with other renewable energy technologies. ESS has a strong track record of working on large scale renewable energy projects and we are looking forward to putting our technical and engineering capabilities to the test on this potentially game-changing project.” Tim Hurst, Managing Director, WES said: “I am delighted to see Ecosse Subsea’s innovative project reach the final stages of the programme. This technology has the potential to deliver a high efficiency, high reliability PTO with unique survivability characteristics that can be applied to a wide variety wave device designs.” http://www.ecosse-subsea.com/ecosse-subsea-systems-ready-take-off-2-5-million-award-wave-energy-scotland/

Ecosse Subsea Systems (ESS) will be at Wave and Tidal 2018 in Glasgow today. ESS is a subsea technology, equipment hire and consultancy company offering bespoke engineering solutions in the Oil & Gas, Interconnector and Offshore Wind, Wave & Tidal sectors. ESS is also a Lead Contractor on the Power Electronic Controlled Magnetic Gear (PECMAG) Project that forms part of the Wave Energy Scotland Power Take-off Programme. This Project is a collaboration that includes Bathwick Electrical Design, Supply Design and Pure Marine Gen. PECMAG is an all-electric system, built from smaller modules with magnetic gearing that is being developed to suit a variety of Wave Energy Converter devices, offering both rotary and linear actuator systems. High efficiency, increased survivability and enhanced reliability are the key differentiators of the PECMAG PTO system, parameters that are critical to producing wave energy converters that are cost competitive with other renewable energy technologies. Pop past stand number 6 for more information or to speak to Mo and/or Michael.

ESS's SCARJet animation is now available to view on YouTube & the ESS website:- https://www.youtube.com/watch?v=1KO50gFsfpA

Business Development Expert Joins ESS Management Team. Subsea technology specialist, Ecosse Subsea Systems (ESS), has taken further steps to strengthen its management team and to boost international sales with a senior appointment. Andy Readyhough will be charged with global business development for the ambitious Aberdeen-shire based company which specialises in seabed clearance and trenching operations in the renewable energy, oil and gas and interconnector sectors. Mr Readyhough has joined ESS having previously held senior management positions at Global Marine Systems and DeepOcean UK. He is a master mariner with more than 35 years maritime and offshore experience and for the last 18 years was engaged in submarine cable installation, trenching and maintenance operations. ESS’s latest appointment follows Mark Brown joining as Engineering Manager and consolidates a management team which is focussed on international growth and rolling out patented technologies and a skills set which has proved highly successful in the UK and Baltic subsea markets. ESS managing director, Mark Gillespie, said: “Andy’s vast business development and operational experience in cable installation and trenching projects will be pivotal in driving forward our global expansion strategy and in forging strong relationships in new geographic market areas. “Our subsea technologies and track record on a number of major renewables, interconnector and oil and gas projects is well established in our home market and our focus for 2018 and beyond is to replicate that success internationally. We are building a management team which is capable of taking ESS to the next level and to realising the company’s true potential.” Mr Readyhough said he had been impressed by ESS’s global outlook and looked forward to adding to the company’s success. He said: “There is no doubting the ambition of chairman Mike Wilson, Mark Gillespie and the wider ESS team and I am delighted to be joining a business which is well-resourced, is highly regarded in the subsea sector and knows where it is going.” Banchory-headquartered ESS has developed an impressive portfolio of patented subsea tools and is regarded as a leading innovator in seabed preparation, trenching and backfill. The company’s SCAR seabed systems – including the largest boulder clearing tool in the world - can be deployed on a variety of subsea tasks required on offshore windfarm projects and major infrastructure and interconnector projects. http://www.ecosse-subsea.com/business-development-expert-joins-ess-management-team/

Ecosse Subsea Systems headcount has more than doubled in the last 3 years with in excess of 40 people employed. Ecosse team shot below!

ESS have completed detailed design and manufacture, supported by a number of recognised industry experts, in order to develop the SCARJet evolutionary trencher. Video footage below:- https://www.youtube.com/watch?v=RD1bwd8PZAE

Ecosse Subsea Systems are exhibiting and speaking at Scottish Renewables Offshore Wind Conference (29-30th January), make sure to pop past our stand and catch ESS Chairman Mike Wilson speaking on Tuesday afternoon #SROFFSHORE18