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Boskalis update share buyback

Papendrecht, 11 November 2019 In the period from 4 November up to and including 8 November, Royal Boskalis Westminster N.V. (Boskalis) repurchased own shares. The repurchases took place within the framework of the share buyback program announced on 15 March 2019. Click here for a complete overview of all individual transactions. Boskalis will publish a press release every Monday for the duration of the buyback program, provided shares were repurchased in the preceding week. Interested parties can subscribe to these press releases at ir@boskalis.com . An overview of the progress of the program can be found on www.boskalis.com/sharebuyback2019 . ‎ FOR FURTHER INFORMATION Investor relations: Martijn L.D. Schuttevâer ir@boskalis.com Press: Arno Schikker press@boskalis.com T +31 786969310 ‎ Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world. With core activities such as coastal defense, riverbank protection and land reclamation Boskalis is able to provide adaptive and mitigating solutions to combat the effects of climate change, such as extreme weather conditions and rising sea levels, as well as delivering solutions for the increasing need for space in coastal and delta regions across the world. The company facilitates the development of offshore energy infrastructure, including renewable wind energy. Boskalis is furthermore active in the construction and maintenance of ports, waterways, access channels and civil infrastructure, thus helping to facilitate trade flows and regional socio-economic development. In addition, Boskalis is a global marine salvage expert and has a number of strategic partnerships in harbor towage and terminal services (Keppel Smit Towage and Smit Lamnalco). With a versatile fleet of more than 700 vessels and floating equipment and 10,000 employees, including associates, Boskalis is creating new horizons around the world. This press release can also be found on our website www.boskalis.com .

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Press release

Trading update: Boskalis reports good third quarter and maintains 2019 EBITDA guidance

Papendrecht, 8 November 2019 THIRD-QUARTER HIGHLIGHTS Good revenue development with strong improvement of the result compared to the first half of the year Healthy utilization of trailing suction hopper dredgers within Dredging Strongly improved result at Offshore Energy and stable utilization of heavy transport vessels Order book: EUR 4.2 billion OUTLOOK FOR 2019 Dredging: stable market picture Offshore Energy: strong recovery in second half following weak first half Towage: sale of stake in Saam Smit Towage completed; remaining joint ventures stable Salvage: strong year with good results from ongoing projects 2019 EBITDA outlook maintained: comparable to 2018 Royal Boskalis Westminster N.V. (Boskalis) saw revenue increase slightly in the third quarter of 2019 compared to the quarterly average for the first half of the year. The operating result increased sharply in the third quarter compared to the weak first half of the year. The order book stood at EUR 4.2 billion, slightly lower compared to the end of June. Over EUR 0.5 billion of new contracts were acquired in the third quarter, not including the recently awarded sizable Changfang and Xidao offshore wind project in Taiwan. Boskalis maintains its earnings forecast for the 2019 full year. Barring unforeseen circumstances, a sharp improvement in profit is expected in the second half of the year compared to the first half. Operational developments Dredging & Inland Infra had a good third quarter. Utilization of the hopper fleet was slightly higher compared to the already busy first half and in view of the current market conditions above average. As expected, utilization of the cutter fleet was lower in the third quarter following an exceptionally busy first half. Revenue for the quarter was comparable to the quarterly average for the first half of the year with a higher operating margin. The third quarter saw the acquisition of a variety of projects, including some related to port development and climate adaptation. For example contracts acquired in Europe included the Southsea Coastal Defence project (in the United Kingdom) and Romanian Beaches projects (in Romania). In Australia the Woodside Scarborough gas pipeline project was acquired in conjunction with the Offshore Energy division. On balance, the order book at Dredging & Inland Infra was virtually stable compared to mid-2019. After the end of the quarter Boskalis acquired the Gulhifalhu land reclamation project in the Maldives as well as the N3 maintenance contract in the Netherlands. Early October saw the successful launch of the mega cutter Krios in Kinderdijk, the Netherlands. Construction work on the vessel will be completed in the period ahead with the vessel expected to be taken into service in mid-2020. For Offshore Energy the third quarter was considerably better than the first half, which was strongly negatively impacted by operational and contractual issues on a limited number of projects. Revenue increased compared to the preceding two quarters, with both the contracting and services activities making a positive contribution to the operating result. In the contracting activities, seabed intervention, including for example Nord Stream 2 and projects in the North Sea and in the Middle East, made a good contribution to the result for the quarter. It was a busy quarter for the offshore wind activities, in particular for Cables. In the services activities, all the clusters (Marine Transport & Services, Subsea and Marine Survey) had a better quarter with increases in both revenue and result. Marine Survey (Gardline and Horizon) in particular had a good third quarter. Utilization of the heavy transport vessels and DSVs was virtually stable compared to the first half of the year whereas the project-specific captive assets (cable-laying, crane and fallpipe vessels) saw improved utilization. The contracting as well as services cluster acquired a number of new contracts in the third quarter. Heavy marine transport acquired an FPSO transport contract for execution before the end of the year as well as a number of long-term transport contracts for 2021-2022. The high-end transport market is starting to show cautious signs of recovery following a number of quiet years during which transport was wholly dependent on the spot market. Finally, seabed intervention together with the Dredging division acquired the Woodside Scarborough gas pipeline project in Australia in the third quarter. After the close of the quarter Boskalis together with its local partner was awarded the contract for a sizeable offshore wind project in Taiwan. The project comprises the transportation and installation of 62 jacket foundations and the accompanying 186 pin piles. On the back of this project Boskalis decided to invest in a new crane vessel. It will do so by converting an existing hull to create the Bokalift 2 crane vessel, with 7,500 m 2 of free deck space and a crane with a lifting capacity of 4,000 tons and a lifting height of over 100 meters. Straight after delivery the Bokalift 2 will make its debut on the wind project in Taiwan and is suitable for a wide range of projects: offshore wind projects, the installation and decommissioning of oil and gas structures, and salvage work. At the Towage & Salvage segment Salvage revenue was slightly lower compared to the very busy first half of the year. Two salvage projects in the Gulf of Oman and the salvage of a vessel in the Arctic waters near Spitsbergen contributed to revenue for the quarter. At Towage the sale of the interests in the joint ventures Kotug Smit Towage and Saam Smit Towage was completed at the beginning of the third and fourth quarters respectively. The contribution from the remaining towage joint ventures (Smit Lamnalco and Keppel Smit Towage) was in line with the average quarterly contribution in the first half of the year.   Outlook for 2019 The market picture for the rest of 2019 is not fundamentally different from that seen in the first nine months of the year. At the release of the half year results, Boskalis stated that based on the fleet planning and work in the order book and barring unforeseen circumstances, it expected a sharp profit improvement in the second half of 2019 compared to the first half and that EBITDA for the full year including all exceptional income and expenses would be stable relative to the approximately EUR 350 million of last year. The Board of Management maintains this guidance. Capital expenditure in 2019 is expected to exceed EUR 250 million, excluding acquisitions. The amount is in line with the level of depreciation and will be financed from the company’s own cash flow. The net debt position has improved strongly compared to the first half of the year. The current net debt position excluding the right-of-use assets recognized under IFRS16 amounts to approximately EUR 150 million. Boskalis thus retains a strong financial position and the company comfortably meets the covenants agreed with its financiers. 2020 FINANCIAL CALENDAR 5 March Publication of 2019 annual results 13 May Q1 2020 trading update 13 May Annual General Meeting of Shareholders 20 August Publication of 2020 half-year results 6 November Q3 2020 trading update FOR FURTHER INFORMATION Investor relations: Martijn L.D. Schuttevâer ir@boskalis.com Press: Arno Schikker press@boskalis.com T +31 786969310 This is a Boskalis press release on the grounds of article 17 paragraph 1 of the European Market Abuse Regulation (596/2014). This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail. Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world. With core activities such as coastal defense, riverbank protection and land reclamation Boskalis is able to provide adaptive and mitigating solutions to combat the effects of climate change, such as extreme weather conditions and rising sea levels, as well as delivering solutions for the increasing need for space in coastal and delta regions across the world. The company facilitates the development of offshore energy infrastructure, including renewable wind energy. Boskalis is furthermore active in the construction and maintenance of ports, waterways, access channels and civil infrastructure, thus helping to facilitate trade flows and regional socio-economic development. In addition, Boskalis is a global marine salvage expert and has a number of strategic partnerships in harbor towage and terminal services (Keppel Smit Towage and Smit Lamnalco). With a versatile fleet of more than 700 vessels and floating equipment and 10,000 employees, including associates, Boskalis is creating new horizons around the world. This press release can also be found on our website www.boskalis.com .

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Press release

Boskalis receives provisional award for highway maintenance contract in the Netherlands

Papendrecht, 7 November 2019 Royal Boskalis Westminster N.V. (Boskalis) has received the provisional award from the Department of Public Works (Rijkswaterstaat) for major maintenance to the highway N3 in The Netherlands. The project scope includes resurfacing, the maintenance of numerous civil engineering structures and the replacement of noise barriers. The design & construct contract carries a value of more than EUR 40 million. Boskalis will execute this project by applying its rich expertise in the areas of dry earthmoving, civil engineering and road construction. The project will commence early 2020 and will be completed mid 2022. FOR FURTHER INFORMATION Investor relations: Martijn L.D. Schuttevâer ir@boskalis.com Press: Arno Schikker press@boskalis.com T +31 786969310 Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world. With core activities such as coastal defense, riverbank protection and land reclamation Boskalis is able to provide adaptive and mitigating solutions to combat the effects of climate change, such as extreme weather conditions and rising sea levels, as well as delivering solutions for the increasing need for space in coastal and delta regions across the world. The company facilitates the development of offshore energy infrastructure, including renewable wind energy. Boskalis is furthermore active in the construction and maintenance of ports, waterways, access channels and civil infrastructure, thus helping to facilitate trade flows and regional socio-economic development. In addition, Boskalis is a global marine salvage expert and has a number of strategic partnerships in harbor towage and terminal services (Keppel Smit Towage and Smit Lamnalco). With a versatile fleet of more than 700 vessels and floating equipment and 10,000 employees, including associates, Boskalis is creating new horizons around the world. This press release can also be found on our website www.boskalis.com .

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Press release

Boskalis complete sale of its equity stake in Saam Smit Towage to SAAM for USD 200 million

Papendrecht, 30 October 2019 Royal Boskalis Westminster N.V. (Boskalis) has completed the sale of its equity stake in Saam Smit Towage to SAAM S.A. (SAAM). The intended sale was announced on 11 February 2019. In line with the initial announcement, Boskalis received approximately USD 200 million in cash for its equity stake in the joint venture resulting in a pre tax book gain of slightly more than EUR 40 million. The activities and results of Saam Smit Towage were deconsolidated as per 1 January 2019 following the signing of the Letter of Intent. The towage joint venture between Boskalis and SAAM was formed in 2014 which at the time covered the respective towage activities in Brazil, Panama, Mexico and Canada. Since then, the joint venture has successfully expanded its presence and realized efficiency savings and commercial synergies. In joint discussions on how to most effectively respond to the more competitive market environment, Boskalis and SAAM came to the conclusion that an outright sale of Boskalis’ share to SAAM would be most beneficial for both parties. FOR FURTHER INFORMATION Investor relations: Martijn L.D. Schuttevâer ir@boskalis.com Press: Arno Schikker press@boskalis.com T +31 786969310 Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world. With core activities such as coastal defense, riverbank protection and land reclamation Boskalis is able to provide adaptive and mitigating solutions to combat the effects of climate change, such as extreme weather conditions and rising sea levels, as well as delivering solutions for the increasing need for space in coastal and delta regions across the world. The company facilitates the development of offshore energy infrastructure, including renewable wind energy. Boskalis is furthermore active in the construction and maintenance of ports, waterways, access channels and civil infrastructure, thus helping to facilitate trade flows and regional socio-economic development. In addition, Boskalis is a global marine salvage expert and has a number of strategic partnerships in harbor towage and terminal services (Keppel Smit Towage Saam Smit Towage and Smit Lamnalco). With a versatile fleet of more than 800 vessels and floating equipment and 10,500 employees, including associates, Boskalis is creating new horizons around the world. This press release can also be found on our website www.boskalis.com .

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Press release

Boskalis awarded Changfang and Xidao offshore wind farm project in Taiwan and announces new Bokalift 2 crane vessel

Papendrecht, 29 October 2019 Royal Boskalis Westminster N.V. (Boskalis) together with Taiwanese partner Hwa Chi Construction Co. Ltd. have been awarded the foundation scope for the Taiwanese Changfang and Xidao offshore wind farm (CFXD OWF) project owned by Copenhagen Infrastructure Partners (CIP). The project includes the transportation and installation of sixty two three-legged jacket foundations and the accompanying 186 pin piles. The contract value for Boskalis is substantial (1) and is subject to financial close of the CFXD OWF project by CIP due later this year. Boskalis and Hwa Chi have successfully performed marine construction projects in Taiwan over the last 30 years and will execute this project as BoWei (Boskalis HwaChi Offshore Wind Taiwan Co. Ltd.). In line with the local content requirement policy for OWF developments in Taiwan, BoWei will subcontract work to local suppliers including the sourcing of support vessels, local engineering and logistic services. The CFXD OWF is located approximately 15 kilometers off the coast of Changhua County, Taiwan and will generate a total capacity of up to 600 MW. Engineering and pre-construction works commenced recently and the project is scheduled to be executed in the period 2021-2023. CFXD OWF will be the launching project for the new Bokalift 2 crane vessel. Similar to the successful Bokalift 1, Boskalis will convert an existing hull to create the Bokalift 2 crane vessel. The DP2 vessel with accommodation for 150 persons will boast 7,500 m 2 of free deck space and a 4,000 ton revolving crane capable of lifting structures more than 100 meters high. The Bokalift 2 will be a flexible value adding asset, well positioned for the installation of current and future generation offshore wind turbine foundations as well as oil and gas structures in addition to serving the decommissioning and salvage market. Boskalis’ strategy is aimed at benefitting from key macro-economic factors which drive worldwide demand in our markets: expansion of the global economy, increase in energy consumption, global population growth and the challenges that go hand in hand with climate change. This project is related to the development of generating renewable energy due to climate change and increasing energy consumption. ‎ (1) For Boskalis, a “substantial” contract is between EUR 150 million and EUR 300 million. https://boskalis.com/ir/contract-disclosures.html FOR FURTHER INFORMATION Investor relations: Martijn L.D. Schuttevâer ir@boskalis.com Press: Arno Schikker press@boskalis.com T +31 786969310 ‎ Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world. With core activities such as coastal defense, riverbank protection and land reclamation Boskalis is able to provide adaptive and mitigating solutions to combat the effects of climate change, such as extreme weather conditions and rising sea levels, as well as delivering solutions for the increasing need for space in coastal and delta regions across the world. The company facilitates the development of offshore energy infrastructure, including renewable wind energy. Boskalis is furthermore active in the construction and maintenance of ports, waterways, access channels and civil infrastructure, thus helping to facilitate trade flows and regional socio-economic development. In addition, Boskalis is a global marine salvage expert and has a number of strategic partnerships in harbor towage and terminal services (Keppel Smit Towage, Saam Smit Towage and Smit Lamnalco). With a versatile fleet of more than 800 vessels and floating equipment and 10,500 employees, including associates, Boskalis is creating new horizons around the world. This press release can also be found on our website www.boskalis.com .  

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Boskalis awarded EUR 45 million dredging project in the Republic of Maldives

Papendrecht, 23 October 2019 Royal Boskalis Westminster N.V. (Boskalis) has been awarded a contract by the Ministry of National Planning and Infrastructure, Republic of Maldives, in relation to the development of Gulhifalhu. The contract carries a value of approximately EUR 45 million. The dredging activities are due to commence in the fourth quarter of 2019 and are expected to be completed in the second quarter of 2020. The development of Gulhifalhu, located about four kilometers from the country’s capital Malé, forms part of the Ministry of National Planning and Infrastructure’s strategic plan to improve and develop the port infrastructure and will serve as a climate adaptive solution, making this part of the Maldives resilient to rising sea levels. As part of this program, Boskalis will reclaim an area with an initial volume of six million cubic meters of sand using a mega sized trailing suction hopper dredger. Boskalis’ activities also include rock revetment work for shoreline protection. Since the turn of the century, Boskalis has successfully executed a number of climate change adaptive dredging and reclamation projects in the Maldives. Starting in 2006, the company reconstructed the island of Vilufushi following the devastating tsunami in December 2004. By doing so Boskalis increased the size of the island and raised it to 1.4 meters above mean sea level. This was followed by several subsequent projects including the initial development of Gulhifalhu in 2012 and land reclamation activities on four other islands in 2014. FOR FURTHER INFORMATION Investor relations: Martijn L.D. Schuttevâer ir@boskalis.com Press: Arno Schikker press@boskalis.com T +31 786969310 Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world. With core activities such as coastal defense, riverbank protection and land reclamation Boskalis is able to provide adaptive and mitigating solutions to combat the effects of climate change, such as extreme weather conditions and rising sea levels, as well as delivering solutions for the increasing need for space in coastal and delta regions across the world. The company facilitates the development of offshore energy infrastructure, including renewable wind energy. Boskalis is furthermore active in the construction and maintenance of ports, waterways, access channels and civil infrastructure, thus helping to facilitate trade flows and regional socio-economic development. In addition, Boskalis is a global marine salvage expert and has a number of strategic partnerships in harbor towage and terminal services (Keppel Smit Towage, Saam Smit Towage and Smit Lamnalco). With a versatile fleet of more than 800 vessels and floating equipment and 10,500 employees, including associates, Boskalis is creating new horizons around the world. This press release can also be found on our website www.boskalis.com .

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