Financial Analysis

"DEBT Overview Debt consisted of the following: (In millions) June 30, 2026 December 31, 2025 4.00% 2012 Private Placement Notes due 2027 $ 85.5 $ 88.1 4.00% 2012 Private Placement Notes due 2032 114.0 117.3 3.75% 2013 Private Placement Notes due 2033 114.0 117.3 Bank borrowings and other 91.9 111.0 Unamortized debt issuance costs and discounts (3.5) (3.7) Total debt $ 401.9 $ 430.0 Less: Short-term debt and current portion of long-term debt 115.3 34.3 Long-term debt $ 286.6 $ 395.7 Credit Facilities and Debt Revolving Credit Facility - On February 16, 2021, we entered into a credit agreement (as amended from time to time, the Credit Agreement), which provided for a $1.0 billion three-year senior secured multi-currency revolving credit facility, including a $450.0 million letter of credit sub-facility (the Revolving Credit Facility). On April 24, 2023, we entered into a fifth amendment (the Amendment No. 5) to the Credit Agreement, which increased the commitments available to the Company to $1.25 billion and extended the term to five years from the date of the Amendment No. 5. The Credit Agreement also provides for a $250.0 million letter of credit sub-facility. We incurred $16.7 million of debt issuance costs in connection with the Amendment No. 5. These debt issuance costs are deferred and are included in other assets in our consolidated balance sheets. The deferred debt issuance costs are amortized to interest expense over the term of the Credit Agreement. On June 23, 2025 …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Revenue by geography for the three and six months ended June 30, 2026 and 2025 was as follows: Reportable Segments Three Months Ended June 30, 2026 June 30, 2025 (In millions) Subsea Surface Technologies Subsea Surface Technologies Latin America $ 979.1 $ 20.6 $ 854.7 $ 25.1 Europe and Central Asia 638.1 32.4 671.3 30.6 Africa 314.9 17.3 247.7 14.0 North America 220.5 105.9 250.1 109.8 Asia Pacific 201.4 22.2 115.2 21.0 Middle East 132.9 77.8 77.3 117.9 Total revenue $ 2,486.9 $ 276.2 $ 2,216.3 $ 318.4 Reportable Segments Six Months Ended June 30, 2026 June 30, 2025 (In millions) Subsea Surface Technologies Subsea Surface Technologies Latin America $ 1,859.9 $ 39.4 $ 1,483.0 $ 45.7 Europe and Central Asia 1,085.8 62.0 1,153.0 58.9 Africa 717.7 27.9 499.7 21.5 North America 500.9 220.8 541.4 226.1 Asia Pacific 338.6 42.3 365.7 43.7 Middle East 192.4 168.1 109.7 219.9 Total revenue $ 4,695.3 $ 560.5 $ 4,152.5 $ 615.8 Revenue by contract type for the three and six months ended June 30, 2026 and 2025 was as follows: Reportable Segments Three Months Ended June 30, 2026 June 30, 2025 (In millions) Subsea Surface Technologies Subsea Surface Technologies Services $ 1,671.1 $ 104.9 $ 1,421.5 $ 111.8 Products 815.8 171.3 794.8 206.6 Total revenue $ 2,486.9 $ 276.2 $ 2,216.3 $ 318.4 Reportable Segments Six Months Ended June 30, 2026 June 30, 2025 (In millions) Subsea Surface Technologies Subsea Surface Technologies Services $ 2,846.5 $ 215.0 $ 2,679.2 $ 219.5 Products 1,848.8 345.5 1,47 …

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"SHARE-BASED COMPENSATION On April 28, 2022, we adopted the TechnipFMC plc 2022 Incentive Award Plan (as amended and restated from time to time, the Plan), and we were able to grant certain incentives and awards to our officers, employees, non-employee directors, and consultants of the Company and its subsidiaries. Awards included share options, share appreciation rights, performance stock units, restricted stock units, restricted shares, or other awards authorized under the Plan. In 2025, our Board of Directors granted one-time PSU awards under the shareholder approved Value Creation Plan (VCP) to certain executives with overall payout capped at 3.6 million PSUs. As of June 30, 2026, the performance-based vesting condition, return on invested capital (""ROIC""), was considered probable. Share-based compensation expense for non-vested performance stock units, restricted stock units, and VCP awards was $15.9 million and $71.4 million for the three and six months ended June 30, 2026, respectively, and $17.4 million and $31.5 million for the three and six months ended June 30, 2025, respectively."

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FAIR VALUE MEASUREMENTS Assets and liabilities measured at fair value on a recurring basis were as follows: June 30, 2026 December 31, 2025 (In millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets Investments Equity securities $ 36.4 $ 36.4 $ $ $ 32.5 $ 32.5 $ $ Money market and stable value fund 5.7 4.8 3.6 3.1 Derivative financial instruments Foreign exchange contracts 413.8 413.8 629.2 629.2 Total assets $ 455.9 $ 36.4 $ 418.6 $ $ 665.3 $ 32.5 $ 632.3 $ Liabilities Derivative financial instruments Foreign exchange contracts 477.6 477.6 560.7 560.7 Total liabilities $ 477.6 $ $ 477.6 $ $ 560.7 $ $ 560.7 $ Equity securities - The fair value measurement of our traded securities is based on quoted prices that we have the ability to access in public markets. Money market and stable value funds - These funds are valued at the net asset value of the shares held at the end of the quarter, which is based on the fair value of the underlying investments using information reported by our investment advisor at quarter-end. These funds include fixed income and other investments measured at fair value. Certain investments that are measured at fair value using net asset value per share (or its equivalent) have not been classified in the fair value hierarchy. Derivative financial instruments - We use the income approach as the valuation technique to measure the fair value of foreign currency derivative instruments on a recurring basis. This approach calculates the p …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

INCOME TAXES The provision for income taxes for the six months ended June 30, 2026 and 2025 was $210.0 million and $193.5 million, respectively, resulting in effective tax rates of 25.2% and 32.0%, respectively. The decrease in effective tax rate is primarily due to the geographic distribution of earnings. Our effective tax rate varies from period to period due to changes in the geographic mix of earnings, as foreign earnings can be subject to different tax rates than in the United Kingdom.

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Recently Issued Accounting Standards under GAAP In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-03, Disaggregation of Income Statement Expenses, which requires public business entities to provide disaggregated disclosures of income statement expenses in the footnotes. This includes detailed breakdowns of expenses such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense caption. The new guidance is effective for annual reporting in 2027 and interim reporting in 2028 and is to be applied prospectively, with retrospective application permitted. We are currently evaluating the impact of this standard on the related disclosures. In December 2025, the FASB issued ASU 2025-09, Hedge Accounting Improvements, which provides targeted enhancements to the hedge accounting guidance in Accounting Standards Codification (ASC) 815. The amendments are intended to improve clarity and operability of hedge designation, effectiveness assessments, and presentation. The standard is effective for annual and interim periods beginning in 2027. We are currently evaluating the impact of this guidance on our consolidated financial statements and disclosures. In December 2025, the FASB issued ASU 2025-11, which updates ASC 270 to clarify its scope and enhance the structure of interim reporting requirements. The amendments include a consolidated listing of required …

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OTHER MATTERS FMC Technologies (UK) Pension Plan Buy-In During 2024, two of the U.K. pension plans entered into buy-in contracts for all their members. Under the buy-in contract terms, the responsibility to pay pension benefits still rests with the plans and the obligation is still recorded by the Company. In July 2024, the U.K. Court of Appeal upheld a ruling of the U.K. High Court in Virgin Media Ltd v. NTL Pension Trustees II Ltd case, a matter that we were not a party to or involved in. The court ruled that certain historical amendments purportedly made to Virgin Medias U.K. defined benefit plan were legally invalid because they had not been accompanied by necessary actuarial confirmation. Legislation has since been enacted in the U.K., under the Pension Schemes Act 2026, to provide a mechanism by which affected pension plans may, subject to satisfying certain statutory conditions, obtain retrospective actuarial confirmation of historic benefit changes. The trustees of the U.K. pension plans are evaluating any actions that may be required. Based on information currently available, the Company does not believe the matter is expected to have a material impact on the measurement of its pension liabilities in respect of the U.K. pension plans. …

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RELATED PARTY TRANSACTIONS Trade receivables, payables, revenues, and expenses, which are included in our condensed consolidated financial statements for all transactions with related parties, were not material as of and for the three and six months ended June 30, 2026 and the comparable period of the prior year. Related parties are defined as entities related to our directors, officers, and main shareholders as well as the partners of our consolidated joint ventures. Loan receivables from Dofcon, including accrued interest, were $95.6 million and $98.9 million as of June 30, 2026 and December 31, 2025, respectively.

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REVENUE The majority of our revenue is from long-term contracts associated with designing and manufacturing products and systems and providing services to customers involved in the exploration and production of oil and natural gas. Disaggregation of Revenue Revenues are disaggregated by geographic location and contract types. Revenue by geography for the three and six months ended June 30, 2026 and 2025 was as follows: Reportable Segments Three Months Ended June 30, 2026 June 30, 2025 (In millions) Subsea Surface Technologies Subsea Surface Technologies Latin America $ 979.1 $ 20.6 $ 854.7 $ 25.1 Europe and Central Asia 638.1 32.4 671.3 30.6 Africa 314.9 17.3 247.7 14.0 North America 220.5 105.9 250.1 109.8 Asia Pacific 201.4 22.2 115.2 21.0 Middle East 132.9 77.8 77.3 117.9 Total revenue $ 2,486.9 $ 276.2 $ 2,216.3 $ 318.4 Reportable Segments Six Months Ended June 30, 2026 June 30, 2025 (In millions) Subsea Surface Technologies Subsea Surface Technologies Latin America $ 1,859.9 $ 39.4 $ 1,483.0 $ 45.7 Europe and Central Asia 1,085.8 62.0 1,153.0 58.9 Africa 717.7 27.9 499.7 21.5 North America 500.9 220.8 541.4 226.1 Asia Pacific 338.6 42.3 365.7 43.7 Middle East 192.4 168.1 109.7 219.9 Total revenue $ 4,695.3 $ 560.5 $ 4,152.5 $ 615.8 Revenue by contract type for the three and six months ended June 30, 2026 and 2025 was as follows: Reportable Segments Three Months Ended June 30, 2026 June 30, 2025 (In millions) Subsea Surface Technologies Subsea Surface Technologies Service …

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BUSINESS SEGMENTS Managements determination of our reporting segments was made on the basis of our strategic priorities within each segment and the differences in the products and services we provide, which corresponds to the manner in which our Chair and Chief Executive Officer, as our chief operating decision maker, reviews and evaluates operating performance and allocates resources. We operate under two reporting segments, Subsea and Surface Technologies. Subsea - designs and manufactures products and systems, performs engineering, procurement, and project management, and provides services used by oil and natural gas companies involved in offshore exploration and production of oil and natural gas. Surface Technologies - designs, manufactures, and supplies technologically advanced wellhead systems and pressure control products used in well completion and stimulation activities for oilfield service companies. We also provide installation, flowback and other services for exploration and production companies. Segment operating profit is defined as total segment revenue less segment operating expenses. Income from equity method investments is included in segment operating profit. The following items have been excluded in computing segment operating profit: corporate staff expense, foreign exchange gains (losses), net interest income (expense), and income taxes. Information by business segment The following presents financial information on our business segments: Three Months En …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

STOCKHOLDERS EQUITY On February 17, 2026, the Company announced that its Board of Directors authorized and declared a quarterly cash dividend of $0.05 per share, payable on April 1, 2026 to shareholders and represents $0.20 per share on an annualized basis. The cash dividends paid during the three and six months ended June 30, 2026 were $19.8 million and $39.7 million, respectively and for the three and six months ended June 30, 2025 were $20.6 million and $41.6 million, respectively. On October 22, 2025, our Board of Directors authorized additional share repurchases of up to $2.0 billion, increasing the Companys total share repurchase authorization to $3.8 billion. Pursuant to this share repurchase program, we repurchased $420.1 million and $684.9 million during the three and six months ended June 30, 2026, respectively, and $250.1 million and $500.2 million during the three and six months ended June 30, 2025, respectively. Based upon the remaining repurchase authority of $1.5 billion and the closing stock price as of June 30, 2026, approximately 22.5 million ordinary shares could be subject to repurchase. Since the initial share repurchase authorization in July 2022, we have purchased an aggregate amount of $2.3 billion of ordinary shares through June 30, 2026. All repurchased shares were cancelled. Accumulated other comprehensive loss for the three and six months ended June 30, 2026 and 2025 consisted of the following: (In millions) Foreign Currency Translation Hedging Def …

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"SUBSEQUENT EVENTS On July 28, 2026, the Company announced that its Board of Directors has authorized and declared a quarterly cash dividend of $0.05 per share, payable on September 2, 2026 to shareholders of record as of the close of business on the New York Stock Exchange on August 18, 2026, which is also the ex-dividend date. In July 2026, the Compensation and Talent (C&T) Committee reviewed the Company's performance results under the VCP and determined that the ROIC target has been achieved for the 12-month period ended June 30, 2026, with ROIC 60% higher than before the VCP was adopted. Upon achievement of the ROIC target, the number of PSUs earned is determined based on the 12-month volume weighted average share price (""VWAP""). Based on a VWAP of $52.02 as of June 30, 2026, the C&T Committee approved the performance results and the vesting of approximately 2.3 million PSUs under the VCP."

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