Technip Energies to separate from TechnipFMC on February 12, 2021

PARIS: TechnipFMC plc announced the timing and details regarding its previously announced separation into two industry-leading, independent, publicly traded companies: TechnipFMC, a fully integrated technology and services provider; and Technip Energies, a leading engineering and technology player.

TechnipFMC shareholders will not receive fractional Technip Energies shares.

The transaction is structured as a spin-off of a majority stake in TechnipFMC’s Technip Energies segment in the form of a share dividend pursuant to which holders of TechnipFMC shares will receive shares of Technip Energies.

Subject to satisfaction of customary conditions and receipt of regulatory approvals, the last day of trading of TechnipFMC shares that include the right to receive Technip Energies shares on the New York Stock Exchange (NYSE) and Euronext Paris stock exchange will be February 12, 2021 and February 15, 2021, respectively.

TechnipFMC shares would then commence trading on a standalone basis on NYSE and Euronext Paris on February 16, 2021.

Technip Energies will become an independent public company and no longer part of TechnipFMC on February 16, 2021, which is the dividend detachment date in respect of the Distribution of the Technip Energies shares.

Accordingly, Technip Energies shares will commence trading on an if-and-when-delivered basis on Euronext Paris at market open on February 16, 2021, with delivery on February 23, 2021. Regular trading in the Technip Energies shares on Euronext Paris will start on February 19, 2021.

Technip Energies intends to establish a sponsored American Depositary Receipt (ADR) program in the United States as of the Payment Date. Trading of the ADRs is expected to commence on the over-the-counter market upon approval and announcement by the Financial Industry Regulatory Authority, Inc. (FINRA).

There is no assurance when trading of the ADRs will begin. Technip Energies will provide a subsequent announcement with updated information regarding the trading of the ADRs following Technip Energies’ receipt of such information from FINRA.

TechnipFMC shareholders will not receive fractional Technip Energies shares.

In the event that a TechnipFMC shareholder is entitled to receive fractional Technip Energies shares, such fractional Technip Energies shares will be aggregated and sold.

Following completion of such sale, each such TechnipFMC shareholder will receive from the relevant intermediary a cash payment from the net proceeds of the sale in lieu of any fractional Technip Energies shares that such TechnipFMC shareholder would have otherwise received.

TechnipFMC is a global leader in the energy industry; delivering projects, products, technologies and services. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our customers’ project economics.

Organized in three business segments — Subsea, Surface Technologies and Technip Energies — we are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our customers in developing their energy resources and in their positioning to meet the energy transition challenge.

Each of our approximately 36,000 employees is driven by a steady commitment to clients and a culture of project execution, purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.

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