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Boskalis reduces Fugro holding to 9.38%

Papendrecht, 13 December 2016

Not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Canada, Japan, South Africa, Australia or any other jurisdiction where it may be unlawful to distribute this announcement.

Royal Boskalis Westminster N.V. (Boskalis) announces that it has reduced its holding in Fugro N.V. (Fugro) to 9.38%. The reduction was accomplished through a successful accelerated bookbuild via which 12,685,878 (15%) certificates of shares in Fugro (the Shares) were placed with institutional investors at EUR 14.50 per share. The bookbuild commenced on Monday 12 December after closing of Euronext Amsterdam.

Peter Berdowski, CEO Boskalis:
"During the presentation of the half year results, we indicated that we would reconsider our position in Fugro. Despite our conviction that parts of Fugro fit very well with Boskalis, we recently decided to sell down our Fugro holding in steps. This decision is on the one hand based on the uncertain market conditions which continue to prevail much longer than anticipated and on the other hand also the position of the Fugro management. Through the gradual sell down we have taken away uncertainty in our own share and we expect to create more value for our shareholders going forward."

In relation to this transaction, Boskalis agreed to a 90 days lock-up period during which it may not dispose of Shares in Fugro, subject to the agreement with the Joint Bookrunners. Kempen & Co and Goldman Sachs acted as Joint Bookrunners for this transaction. This announcement does not constitute an offer of, or the solicitation of an offer to subscribe for or purchase any securities to any person in any jurisdiction to whom it is unlawful to make such offer or solicitation in such jurisdiction. The Shares have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "US Securities Act"). The Shares may not be offered or sold in the United States, except to qualified institutional buyers ("QIBs"), as defined in, and in reliance on, the exemption from the registration requirements of the US Securities Act provided in Rule 144A thereunder ("Rule 144A") or another exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act. No action has been taken to allow a public offering of the Shares in the United States. This is a Boskalis press release on the grounds of article 17 paragraph 1 of the European Market Abuse Regulation (596/2014). 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 services including the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. In addition, Boskalis offers a wide variety of marine services and contracting for the oil and gas sector and offshore wind industry as well as salvage solutions (SMIT Salvage). Furthermore, Boskalis has a number of strategic partnerships in harbour towage and terminal services (KOTUG SMIT Towage, Keppel Smit Towage, Saam Smit Towage and Smit Lamnalco). With a versatile fleet of 1,000 units Boskalis operates in around 75 countries across six continents. Boskalis has over 8,200 employees, excluding its share in partnerships. This press release can also be found on our website

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