Oceaneering International Inc.: Annual Report Summary for Investors

Business Overview: Oceaneering International Inc. stands as a global technology leader, delivering specialized engineered services, products, and advanced robotic solutions. While the company primarily supports the offshore energy industry with crucial subsea equipment, remotely operated vehicles (ROVs), and expert engineering services, it also applies its cutting-edge robotics and specialized knowledge to defense, aerospace, and manufacturing.

Oceaneering manages its diverse operations through five key business segments:

• Subsea Robotics
• Manufactured Products
• Offshore Projects Group
• Integrity Management & Digital Solutions
• Aerospace and Defense Technologies

International markets are vital to Oceaneering's success. In the fiscal year ended December 31, 2025, international operations generated approximately 55% of its total revenue, or $1.5 billion. Key international markets include Africa, the United Kingdom, Norway, Brazil, and Asia/Australia.

Financial Performance (Fiscal Year Ended December 31, 2025): For the fiscal year ended December 31, 2025, Oceaneering's financial highlights include:

• Revenue: Oceaneering generated approximately $2.73 billion in total revenue, with $1.5 billion originating from international operations.
• Market Valuation: As of June 30, 2025, the market value of common stock held by non-affiliates stood at approximately $2.0 billion, with shares trading at $20.72 each.
• Shares Outstanding: As of February 13, 2026, the company had approximately 99.4 million shares of common stock outstanding.

Risk Factors: Oceaneering's filing identified one specific risk:

• Customer Concentration Risk: Oceaneering faces significant customer concentration risk. A large portion of its revenue depends on a few major customers, and a decline in business from any key client could materially impact the company's revenue and profitability.

Financial Health: Oceaneering manages its capital structure using various financial instruments. These include:

• Senior Notes (Long-Term Debt): The company holds long-term debt in the form of "Senior Notes" due in 2028. These unsecured bonds represent a promise to repay borrowed money with interest.
• Revolving Credit Facility: Oceaneering also maintains a "revolving credit facility." This flexible line of credit allows the company to borrow, repay, and re-borrow funds up to a set limit to manage short-term liquidity.

Competitive Position:

• Market Leadership Claim: Oceaneering positions itself as one of the world's largest underwater services contractors. This indicates a strong market presence and potential competitive advantage in its specialized subsea markets.

This summary provides a snapshot of Oceaneering International Inc. based on the available information, offering key insights into its operations, financial standing, and identified risks for your investment consideration.