2016 Louisiana Energy Conference June 1, 2016

McDermott Deepwater Overview

Brennan Roy Senior Business Development Manager

Forward‐Looking StatementsIn accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions thatstatements in this presentation which are forward‐looking, and provide other than historical information, involve risks, contingencies anduncertainties that may impact McDermott’s actual performance and results of operations. The forward‐looking statements in thispresentation include, but are not limited to, statements about backlog, bids outstanding and target projects, and the anticipatedbreakdown and timing of award of the associated contracts and expected backlog roll‐off, to the extent these may be viewed asindicators of future revenues or profitability, market trends and overall expected market size, expectations regarding McDermott’s globaland in‐market capabilities, expectations regarding opportunities provided by geographical diversity, the expected specifications of andoperations related to the DLV 2000, expected benefits from our joint ventures and alliances, the expected scope, execution, timing andvalue of projects discussed herein, expected benefits and savings resulting from our cost saving initiatives, including those resulting fromthe Additional Overhead Reduction (“AOR”) program, focus areas and priorities for McDermott’s business going forward andMcDermott’s earnings and other guidance for 2016. Although we believe that the expectations reflected in those forward‐lookingstatements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements aremade by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, amongothers: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts inbacklog, changes in project design or schedules, the availability of qualified personnel, changes in the scope, terms or timing of contracts,contract cancellations, change orders and other modifications and actions by our customers and business partners, difficulties executingon the project, changes in industry norms and adverse outcomes in legal and other dispute resolution proceedings. If one or more ofthese risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You shouldnot place undue reliance on forward‐looking statements. For a more complete discussion of these and other risk factors, please seeMcDermott’s annual and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10‐K for theyear ended December 31, 2015 and subsequent quarterly report on Form 10‐Q. This presentation reflects management’s views as of thedate hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward‐looking statement.

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A Look at McDermott

McDermott is a leading EPCI company Offshore upstream oil and gas projects

Experienced management team Worldwide presence with 11,600 employees Commitment to safety, quality and ethics  NYSE listed : MDR since 1954 Pioneering  Louisiana company founded in in 

1923

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Offshore: Fixed Platforms, floating production systems, export pipelines

Subsea: Subsea hardware, umbilical, riser and flowline installation

EPCI: Full field development or single project delivery

McDermott’s Infrastructure and Solutions

• 1,100+ engineers globally• Offices in 10 locations

worldwide• FloaTEC, LLC 50:50 JV with

Keppel FELS• IO Oil & Gas Consultants

50:50 JV with GE

Capabilities / Services:• Studies & conceptual

designs• Front-End Engineering &

Design (FEED)• Detailed engineering &

design • Greenfield & Brownfield

engineering• Transportation &

installation engineering

EPCI . . . Unique Delivery Platform

Engineering• Dedicated Supply Chain

Management• 500+ dedicated

employees

Capabilities / Services:• Negotiating, purchasing,

transporting, inspecting, inventory control and quality assurance

• Global sourcing• Deep local knowledge• Strong supplier relations

ProcurementStrategically located facilities • Aggregate area: 600+

acres• Largest deck to date

23,000 tons• Largest jacket to date

38,000 tons

Capabilities / Services:• Topsides & onshore

modules• Jackets, piles & compliant

towers• TLPs, SPARs, FPSOs• Subsea production systems• Standardized fabrication

processes & procedures

ConstructionDedicated installation fleet• Global construction

fleet, multi-functional and subsea support vessels

Capabilities / Services: • Single & dual heavy-lift• Floatover install• Various diameter

pipeline install − S-Lay, J-Lay, Flex-Lay

and Reel-Lay• Dynamic positioning &

mooring systems• Subsea installation

support• De-commissioning

Installation

Fully Integrated, Single‐Source Solutions For Worldwide Offshore And Subsea Developments

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Full Global Reach

11,600 employees , 17 countries – One McDermott6

Construction:  Driving to a global standard of efficiency

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Jebel Ali / Dammam BatamAltamira

• Global, in‐market fabrication facilities with in‐house full control of cost, quality and schedule

• Instituted fabrication council to drive global process while streamlining supervision and structure

• Creating the ability to workshare

• Optimized processes and procedures

• JVs providing access to low cost and in‐market solutions 

• A relentless culture of improvement

China

Malaysia

Control of Fabrication is an EPCI Sustainable Competitive Advantage

Installation:  Shallow to deep throughout the lifecycle

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Dynamically Positioned Vessel

Anchored Vessel

Hook‐up & Commissioning

Versatile Fleet with Broad Capabilities is a Differentiator

• Class 3 dynamically positioned vessel with a 2,200‐ton crane and deepwater S‐lay pipelay system

• Fast transit speeds make the DLV2000 a global asset

• A full solution of shallow water fleet capabilities with versatile subsea fleet

• Supported by in‐market teams

• Expertise in complex brownfield installation, hook up and commissioning

Heavy Lift and High‐End Pipelay Vessel

DLV 2000:

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Specialized Marine Fleet

Rigid Reel Lay Heavy Lift/Pipelay (S‐Lay/J‐Lay)Flex Lay

Launch Barges

Emerald Sea

NO 105

CSV 108

DB50

DB 27

DB101

Thebaud Sea

DB30

Agile

Intermac 650Intermac 600

Construction Support Vessels

DB32

NO 102 DLV2000 

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Gulfport, Gulf of Mexico (New 2016)  Deepwater Pipelay Spoolbase ‐ Facility and storage 50 + acres

Derrick Lay Vessel (DLV) 2000 (Coming 2016)

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Heavy lift pipe‐lay vessel

Deepwater S‐Lay capability: 

4.5 to 60 inches

Derrick Lay Vessel (DLV) 2000 (New 2016)

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DLV 2000 will add high‐end capabilities and versatility to our existing fleet.  Heavy lift, rigid pipelay, subsea construction, accommodations and fast transit speeds for shallow and deepwater locations around the world.2000MT CraneS‐Lay w/ 450MT top tension

Scheduled to work in 2016 and 2017 on the INPEX Ichthys and Woodside Greater Western Flank Phase II Projects in Australia

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INVESTORCONTACT

Katherine MurrayVice President, Treasurer and Investor Relations281.870.5147KAMurray@mcdermott.com

The information contained herein is provided for general information purposes only and is not intended or to be construed as a warranty, an offer, or any representation of contractual or other legal responsibility. McDermott has a policy of continuous improvement of its 

products and services and reserves the right to change information including specifications and processes without notice. 

Thank You