TechnipFMC and Magma Global to Enter into a Strategic Collaboration Agreement for Hybrid Flexible Pipe

LONDON & PARIS & HOUSTON–(BUSINESS WIRE)–TechnipFMC (NYSE:FTI) (PARIS:FTI) has agreed the terms of a
collaboration agreement with Magma Global Ltd. to develop a new
generation of hybrid flexible pipe (HFP) for use in offshore
applications. HFP is expected to provide increased strength and fatigue
performance, while also achieving dramatic weight and cost reductions,
for subsea fluid transport applications. As part of the collaboration,
TechnipFMC is purchasing a minority stake in Magma Global.

Barry Glickman, President of Engineering, Manufacturing & Supply Chain
at TechnipFMC, stated: “I am very pleased that we have reached this
agreement with Magma, which will further enhance TechnipFMC’s Subsea 2.0
product platform. The lighter, higher performance, and more
cost-effective HFP solution, will enable TechnipFMC to strengthen its
leadership position in the flexible pipe business and address the new
challenges of offshore deepwater fields”.

Martin Jones, Magma Global CEO, said: “We are delighted to be working
with TechnipFMC and believe that their vision for a hybrid flexible
product provides a logical step for the increased adoption of carbon
composites in full field developments, paving the way towards Magma’s
long-term vision of an all composite subsea infrastructure from the
seabed to the surface. Ultimately we will deliver that by continuing to
offer the unique benefits of Magma’s m-pipe® to a wide range of industry
players and applications”.

Important Information for Investors and Securityholders

Forward-Looking Statements

This release contains "forward-looking statements" as defined in Section
27A of the United States Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended.
Forward-looking statements involve significant risks, uncertainties and
assumptions that could cause actual results to differ materially from
the Company’s historical experience and present expectations or
projections. These risks, uncertainties and assumptions relate to, among
other things, the Company’s ability to work with Magma to achieve the
relevant milestones, to develop a commercially competitive proposition
and to protect and maintain critical intellectual property assets and
the potential impact of the announcement or consummation of the
transaction with Magma on relationships, including with employees,
suppliers, customers and competitors of the Company and Magma. For
additional information regarding known material factors that could cause
actual results to differ from projected results, please see our risk
factors set forth in our filings with the United States Securities and
Exchange Commission, which include our Registration Statement on Form
S-4, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K.

We caution you not to place undue reliance on any forward-looking
statements, which speak only as of the date hereof. We undertake no
obligation to publicly update or revise any of our forward-looking
statements after the date they are made, whether as a result of new
information, future events or otherwise, except to the extent required
by law.

About TechnipFMC

TechnipFMC is a global leader in subsea, onshore/offshore, and surface
projects. With our proprietary technologies and production systems,
integrated expertise, and comprehensive solutions, we are transforming
our clients’ project economics.

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 clients in developing their oil and gas
resources.

Each of our more than 37,000 employees is driven by a steady commitment
to clients and a culture of purposeful innovation, challenging industry
conventions, and rethinking how the best results are achieved.

To learn more about us and how we are enhancing the performance of
the world’s energy industry, go to TechnipFMC.com and follow us on
Twitter @TechnipFMC.

About Magma

Magma Global manufacturers m-pipe®, a high quality, high strength carbon
fibre and Victrex PEEK thermoplastic composite pipe that is one tenth
the weight in water of equivalent steel or non-bonded flexible pipe and
is highly resistant to degradation. m-pipe® is manufactured using high
quality carbon fibre and Victrex PEEK in a fully automated robotic 3D
laser print process, and the Magma In Country Manufacturing Module
(ICMM) can meet local content requirements. Magma m-pipe® subsea
applications include risers, jumpers, infield flowlines and intervention
lines and it is ideally suited to sour service and deep water
environments. A recent independent study shows m-pipe® reduces the fully
installed cost of deep water risers by over 40%.
www.magmaglobal.com

Contacts

TechnipFMC
Investor relations
Matt Seinsheimer,
281-260-3665
Vice President Investor Relations
Email: Matt
Seinsheimer
or
Phillip Lindsay, +44 203 429 3929
Director
Investor Relations Europe
Email: Phillip
Lindsay
or
Media relations
Christophe
Belorgeot, +33 1 47 78 39 92
Vice President Corporate Communications
Email:
Christophe Belorgeot
or
Delphine
Nayral, +33 1 47 78 34 83
Senior Manager Public Relations
Email:
Delphine Nayral