HOUSTON, Aug. 07, 2019 (GLOBE NEWSWIRE) -- SEACOR Marine Holdings Inc. (NYSE:SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore oil and natural gas and wind farm facilities worldwide, today announced results for its second quarter ended June 30, 2019.

Second quarter highlights include:

-- A 6% increase in total operating revenues as compared with the second quarter of 2018, primarily due to a 10% increase in utilization. The improved utilization reflects a 7% increase in on hire days despite an 8% decrease in the number of available days as a result of asset sales during the last twelve months, compared with the second quarter of 2018 Operating loss decreased by $4.5 million to $16.5 million compared with $21.0 million in the second quarter of 2018. -- Consolidated direct vessel profit (“DVP”)(1)for the second quarter of 2019 increased by $6.1 million, or 41%, to $20.8 million from $14.7 million in the second quarter of 2018. Primary drivers of the increase were current quarter increases in revenues, along with a decrease in labor costs compared to the second quarter of 2018 due to a $1.2 million foreign pension adjustment in 2018, $1.0 million reduction in drydockings and a $1.7 million reduction in other major repairs. -- Wind energy support revenues for the second quarter of 2019 increased by $3.3 million to $9.8 million from $6.5 million in the second quarter of 2018, a 52% increase, and DVP for this activity increased by $2.0 million to $4.7 million from $2.7 million in the second quarter of 2018, a 76% increase. This growth included both organic improvement in utilization and average dayrates for our crew transfer vessel (“CTV”) fleet and the commencement of a multi-year contract in Europe for one liftboat. -- Start-up expenses incurred by both our Brazilian focused joint venture and our Chinese new construction platform supply vessel (“PSV”) joint venture, resulted in $5.6 million in losses from 50% or less owned companies. These joint ventures incurred drydocking and/or mobilization expenses for a total of eight vessels, all of which are expected to begin work and contribute positively to the Company’s results in the third quarter.

Following the end of the quarter, the Company initiated cost reduction initiatives aimed at better aligning its operating expenses with its view of current and prospective market conditions. Cost reduction measures include a reduction of workforce, reorganization of the management structure, and closure and/or consolidation of certain facilities in the U.S. Gulf of Mexico, Middle East, and Europe. The Company expects that upon completion of these initiatives, it will realize annualized recurring administrative and general savings of at least $8.0 million, representing approximately 17% of the Company’s total administrative and general expense over the last twelve months. The Company anticipates that the initiatives will impact all of its reportable segments and expects the bulk of the initiatives to be completed by the second quarter of 2020. These initiatives will result in a one-time restructuring charge in the third quarter of 2019.

Chief Executive Officer John Gellert commented on SEACOR Marine's second quarter results:

“Our fleet continued to experience an upward trend in utilization and dayrates, reflecting consistent improvement for assets since the offshore cycle trough in the first quarter of 2017. Activity levels in the U.S. Gulf of Mexico remain tepid as customer demand is highly sensitive to oil and gas prices. Tendering activity, especially in international markets served by our asset portfolio, points to a continuing recovery. Unfortunately, the pace of the recovery is slower than we had hoped, leading us to implement our aggressive cost-cutting initiative.

“Our investments in wind energy support are paying off and continue to develop attractive growth opportunities. Notable highlights from the second quarter were the commencement of a 30-month contract in Europe for our largest and most capable liftboat, increased activity of our CTVs in Europe, and new tendering activity in the U.S. for Jones Act-compliant assets in anticipation of significant offshore windfarm installations off the East Coast.

“We are focused on returning to profit and generating cash, while remaining vigilant in positioning ourselves to take advantage of opportunities in any market conditions. We have proactively reassessed our cost structure and regional footprint and initiated efforts to optimize both. I am confident that these efforts, and our continued emphasis on core assets, regions and services with the highest potential for improved margins, allow us to chart our own path to profitability without depending on a full market recovery in oil and gas services.”

For the second quarter of 2019, net loss attributable to SEACOR Marine was $28.4 million ($1.21 per basic and diluted share), and operating loss was $16.5 million. Net loss attributable to SEACOR Marine for the second quarter of 2018 was $25.0 million ($1.19 per basic and diluted share) and operating loss was $21.0 million.

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Direct vessel profit (defined as operating revenues less operating costs and expenses, “DVP”) is the Company’s measure of segment profitability when applied to reportable segments and a non-GAAP measure when applied to individual vessels, fleet categories or the combined fleet. DVP is a critical financial measure used by the Company to analyze and compare the operating performance of its individual vessels, fleet categories, regions and combined fleet, without regard to financing decisions (depreciation for owned (1) vessels vs. leased-in expense for leased-in vessels). DVP is also useful when comparing the Company’s fleet performance against those of our competitors who may have differing fleet financing structures. DVP has material limitations as an analytical tool in that it does not reflect all of the costs associated with the ownership and operation of our fleet, and it should not be considered in isolation or used as a substitute for our results as reported under GAAP. See page 8 for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure.

SEACOR Marine provides global marine and support transportation services to offshore oil and natural gas and windfarm facilities worldwide. SEACOR Marine and its joint ventures operate a diverse fleet of offshore support and specialty vessels that deliver cargo and personnel to offshore installations; handle anchors and mooring equipment required to tether rigs to the seabed; tow rigs and assist in placing them on location and moving them between regions; provide construction, well workover and decommissioning support; and carry and launch equipment used underwater in drilling and well installation, maintenance and repair. Additionally, SEACOR Marine’s vessels provide accommodations for technicians and specialists, safety support and emergency response services.

Certain statements discussed in this release as well as in other reports, materials and oral statements that the Company releases from time to time to the public constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “believe,” “plan,” “target,” “forecast” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern management’s expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or expected by the management of the Company. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties and other important factors, many of which are beyond the Company’s control. It should be understood that it is not possible to predict or identify all such factors. Consequently, the preceding should not be considered to be a complete discussion of all potential risks or uncertainties. Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. It is advisable, however, to consult any further disclosures the Company makes on related subjects in its filings with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (if any). These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.

Please visit SEACOR Marine’s website at www.seacormarine.com for additional information.For all other requests, contact Connie Morinello at (346) 980-1700 or InvestorRelations@seacormarine.com

SEACOR MARINE HOLDINGS INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF LOSS (in thousands, except share data)

Three Months Ended June 30, Six Months Ended June 30, ---------------------------- ---------------------------- 2019 2018 2019 2018 ------------ ------------ ------------ ------------ Operating Revenues $ 64,345 $ 60,701 $ 120,594 $ 112,422 - ---------- - ---------- - ---------- - ---------- Costs and Expenses: Operating 43,525 46,001 87,802 84,349 Administrative and general 11,639 15,041 23,639 27,415 Lease expense 4,317 3,310 8,465 6,568 Depreciation and amortization 17,494 18,406 34,687 37,918 - ---------- - ---------- - ---------- - ---------- 76,975 82,758 154,593 156,250 - ---------- - ---------- - ---------- - ---------- (Losses) Gains on Asset Dispositions and (3,848 ) 1,055 (3,489 ) (1,588 ) Impairments, Net - ---------- - ---------- - ---------- - ---------- Operating Loss (16,478 ) (21,002 ) (37,488 ) (45,416 ) - ---------- - ---------- - ---------- - ---------- Other Income (Expense): Interest income 222 352 579 568 Interest expense (7,691 ) (6,489 ) (15,426 ) (12,622 ) SEACOR Holdings guarantee fees (32 ) (7 ) (61 ) (19 ) Derivative losses, net (1,398 ) (2,668 ) (2,323 ) (14,184 ) Foreign currency gains, net (929 ) (818 ) (294 ) (679 ) - ---------- (9,828 ) (9,630 ) (17,525 ) (26,936 ) - ---------- - ---------- - ---------- - ---------- Loss Before Income Tax Benefit and Equity in (26,306 ) (30,632 ) (55,013 ) (72,352 ) Earnings of 50% or Less Owned Companies Income Tax Benefit (3,048 ) (4,724 ) (6,879 ) (14,548 ) - ---------- - ---------- - ---------- - ---------- Loss Before Equity in Earnings of 50% or Less (23,258 ) (25,908 ) (48,134 ) (57,804 ) Owned Companies Equity in Losses of 50% or Less Owned (7,006 ) (721 ) (10,403 ) (513 ) Companies - ---------- - ---------- - ---------- - ---------- Net Loss (30,264 ) (26,629 ) (58,537 ) (58,317 ) Net Loss attributable to Noncontrolling (1,875 ) (1,605 ) (4,599 ) (4,460 ) Interests in Subsidiaries - ---------- - ---------- - ---------- - ---------- Net Loss attributable to SEACOR Marine $ (28,389 ) $ (25,024 ) (53,938 ) $ (53,857 ) Holdings Inc. - ---------- - ---------- - ---------- - ---------- Basic and Diluted Loss Per Common Share and $ (1.21 ) $ (1.19 ) $ (2.32 ) $ (2.79 ) Warrants of SEACOR Marine Holdings Inc. Weighted Average Common Shares and Warrants Outstanding: Basic and Diluted 23,382,272 21,035,214 23,237,012 $ 19,312,923

SEACOR MARINE HOLDINGS INC. UNAUDITED CONSOLIDATED RESULTS OF OPERATIONS (in thousands, except share data)

Three Months Ended June 30, Six Months Ended June 30, --------------------------------------- --------------------------------------- 2019 2018 2019 2018 ----------------- ----------------- ----------------- ----------------- Time Charter Statistics: Average Rates Per Day Worked (excluding crew $ 9,913 $ 9,742 $ 9,686 $ 9,425 transfer) Average Rates Per Day $ 7,122 $ 7,324 $ 7,237 $ 7,174 Fleet Utilization (excluding crew 64 % 58 % 63 % 54 % transfer) Fleet Utilization 72 % 62 % 66 % 58 % Fleet Available Days (excluding crew 8,038 9,071 16,153 18,342 transfer) Fleet Available Days 11,537 12,528 23,072 25,129 Operating Revenues: Time charter $ 58,773 91 % $ 56,826 94 % $ 110,900 92 % $ 103,968 93 % Bareboat charter 1,389 2 % 1,156 2 % 2,532 2 % 2,299 2 % Other marine services 4,183 7 % 2,719 4 % 7,162 6 % 6,155 5 % - ------- --- - ------- --- - ------- --- - ------- --- $ 64,345 100 % 60,701 100 % $ 120,594 100 % 112,422 100 % - ------- --- - ------- --- - ------- --- - ------- --- Costs and Expenses: Operating: Personnel 23,961 37 % 24,733 41 % 46,717 39 % 46,409 41 % Repairs and 8,676 14 % 9,070 15 % 17,682 15 % 16,143 14 % maintenance Drydocking 2,074 3 % 3,112 5 % 4,953 4 % 5,369 5 % Insurance and loss 1,892 3 % 1,934 3 % 3,366 3 % 3,124 3 % reserves Fuel, lubes and 3,892 6 % 4,122 7 % 7,645 6 % 7,667 7 % supplies Other 3,030 5 % 3,009 5 % 7,439 6 % 5,616 5 % - ------- --- - ------- --- - ------- --- - ------- --- 43,525 68 % 45,980 76 % 87,802 73 % 84,328 75 % Administrative and 11,639 18 % 15,041 25 % 23,639 19 % 27,415 24 % general Depreciation and 17,494 27 % 18,406 30 % 34,687 29 % 37,918 34 % amortization Lease expense - 4,317 7 % 3,331 6 % 8,465 7 % 6,589 6 % operating - ------- --- - ------- --- - ------- --- - ------- --- 76,975 120 % 82,758 137 % 154,593 128 % 156,250 139 % - ------- --- - ------- --- - ------- --- - ------- --- Gains (Losses) on Asset Dispositions and (3,848 ) (6 )% 1,055 2 % (3,489 ) (3 )% (1,588 ) (1 )% Impairments, Net - ------- --- - ------- --- - ------- --- - ------- --- Operating Loss (16,478 ) (26 )% (21,002 ) (35 )% (37,488 ) (31 )% (45,416 ) (40 )% - ------- --- - ------- --- - ------- --- - ------- ---

SEACOR MARINE HOLDINGS INC. UNAUDITED CONSOLIDATED STATEMENTS OF LOSS (in thousands, except statistics and per share data)

Three Months Ended ------------------------------------------------------------- Jun. 30, Mar. 31, Dec. 31, Sep. 30, Jun. 30, 2019 2019 2018 2018 2018 --------- --------- --------- --------- --------- Time Charter Statistics: Average Rates Per Day Worked (excluding crew $ 9,913 $ 9,451 $ 9,852 $ 10,186 $ 9,742 transfer) Average Rates Per Day $ 7,122 $ 7,371 $ 7,447 $ 7,323 $ 7,324 Fleet Utilization (excluding crew transfer) 64 % 62 % 61 % 60 % 58 % Fleet Utilization 72 % 61 % 63 % 68 % 62 % Fleet Available Days (excluding crew 8,038 8,116 8,312 9,119 9,071 transfer) Fleet Available Days 11,537 11,536 11,808 12,617 12,528 Operating Revenues: Time charter $ 58,773 $ 52,127 $ 55,382 $ 62,902 $ 56,826 Bareboat charter 1,389 1,143 1,168 1,168 1,156 Other marine services 4,183 2,979 14,382 6,185 2,719 - ------- - ------- - ------- - ------- - ------- $ 64,345 $ 56,249 $ 70,932 70,255 $ 60,701 - ------- - ------- - ------- - ------- - ------- Costs and Expenses: Operating: Personnel 23,961 22,756 23,598 25,021 24,733 Repairs and maintenance 8,676 9,006 7,928 9,208 9,070 Drydocking 2,074 2,879 1,396 4,822 3,112 Insurance and loss reserves 1,892 1,474 2,093 1,857 1,934 Fuel, lubes and supplies 3,892 3,753 4,618 4,690 4,122 Other 3,030 4,409 2,532 3,000 3,009 - ------- - ------- - ------- - ------- - ------- 43,525 44,277 42,165 48,598 45,980 - ------- - ------- - ------- - ------- - ------- Direct Vessel Profit 20,820 11,972 28,767 21,657 14,721 - ------- - ------- - ------- - ------- - ------- Other Costs and Expenses: Lease expense 4,317 4,148 3,430 3,292 3,331 Administrative and general 11,639 12,000 11,795 11,767 15,041 Depreciation and amortization 17,494 17,193 16,986 17,342 18,406 - ------- - ------- - ------- - ------- - ------- 33,450 33,341 32,211 32,401 36,778 - ------- - ------- - ------- - ------- - ------- Gains (Losses) on Asset Dispositions and (3,848 ) 359 (7,745 ) 586 1,055 Impairments, Net - ------- - ------- - ------- - ------- - ------- Operating Loss (16,478 ) (21,010 ) (11,189 ) (10,158 ) (21,002 ) Other Income (Expense): Interest income 222 357 357 309 352 Interest expense (7,691 ) (7,735 ) (7,486 ) (7,761 ) (6,489 ) SEACOR Holdings guarantee fees (32 ) (29 ) (5 ) (5 ) (7 ) Debt extinguishment loss — — — (638 ) — Derivative losses, net (1,398 ) (925 ) 12,651 4,387 (2,668 ) Foreign currency gains, net (929 ) 635 (466 ) (302 ) (818 ) Other, net — — (4 ) 678 — - ------- - ------- - ------- --------- - ------- (9,828 ) (7,697 ) 5,047 (3,332 ) (9,630 ) - ------- - ------- - ------- - ------- - ------- Loss Before Income Tax Benefit and Equity in (26,306 ) (28,707 ) (6,142 ) (13,490 ) (30,632 ) Earnings of 50% or Less Owned Companies Income Tax (Benefit) Expense (3,048 ) (3,831 ) (48 ) 1,249 (4,724 ) - ------- - ------- - ------- - ------- - ------- Loss Before Equity in Earnings of 50% or Less (23,258 ) (24,876 ) (6,094 ) (14,739 ) (25,908 ) Owned Companies Equity in (Losses) Earnings of 50% or Less (7,006 ) (3,397 ) (1,875 ) (1,027 ) (721 ) Owned Companies, Net of Tax - ------- - ------- - ------- - ------- - ------- Net Loss (30,264 ) (28,273 ) (7,969 ) (15,766 ) (26,629 ) Net Loss attributable to Noncontrolling (1,875 ) (2,724 ) (175 ) 191 (1,605 ) Interests in Subsidiaries - ------- - ------- - ------- - ------- - ------- Net Loss attributable to SEACOR Marine $ (28,389 ) $ (25,549 ) $ (7,794 ) $ (15,957 ) $ (25,024 ) Holdings Inc. - ------- - ------- - ------- - ------- - ------- Basic and Diluted Loss Per Common Share and $ (1.21 ) $ (1.11 ) $ (0.35 ) $ (0.71 ) $ (1.19 ) Warrants of SEACOR Marine Holdings Inc. Weighted Average Common Shares and Warrants Outstanding: Basic and Diluted 23,382 23,090 22,514 22,513 21,035 Common Shares and Warrants Outstanding at 23,618 23,222 22,711 22,709 22,709 Period End

SEACOR MARINE HOLDINGS INC.UNAUDITED DIRECT VESSEL PROFIT (“DVP”) BY REGION(in thousands, except share data)

United Africa Europe States (primaril Middle (primaril (primaril y East Latin y Total y West and Asia America North Gulf of Africa) Sea) Mexico) -------- -------- -------- ------- -------- --------- For the Three Months Ended June 30, 2019 Time Charter Statistics: Average Rates Per Day $ 14,058 $ 9,365 $ 8,182 $ 8,074 $ 4,686 $ 7,122 Fleet Utilization 34 % 81 % 79 % 63 % 86 % 72 % Fleet Available Days 2,669 1,365 2,026 400 5,077 11,537 Operating Revenues: Time charter $ 12,628 $ 10,400 $ 13,175 $ 2,046 $ 20,524 $ 58,773 Bareboat charter 233 — — 1,156 — 1,389 Other marine services 1,320 753 349 273 1,488 4,183 - ------ - ------ - ------ - ----- - ------ - ------- 14,181 11,153 13,524 3,475 22,012 64,345 - ------ - ------ - ------ - ----- - ------ - ------- Direct Costs and Expenses: Operating: Personnel 5,203 3,428 4,292 976 10,062 23,961 Repairs and maintenance 2,515 952 2,629 481 2,099 8,676 Drydocking 1,801 (48 ) 275 (32 ) 78 2,074 Insurance and loss reserves 841 239 381 66 365 1,892 Fuel, lubes and supplies 1,107 939 725 314 807 3,892 Other 113 773 793 560 791 3,030 - ------ - ------ - ------ - ----- - ------ - ------- 11,580 6,283 9,095 2,365 14,202 43,525 - ------ - ------ - ------ - ----- - ------ - ------- Direct Vessel Profit $ 2,601 $ 4,870 $ 4,429 $ 1,110 $ 7,810 20,820 - ------ - ------ - ------ - ----- - ------ - ------- Other Costs and Expenses: Lease expense $ 2,942 $ 787 $ 42 $ — $ 546 4,317 Administrative and general 11,639 Depreciation and amortization 5,341 2,759 4,274 1,659 3,461 17,494 - ------- 33,450 - ------- Loss on Asset Dispositions and (3,848 ) Impairments - ------- Operating Loss $ (16,478 ) - -------

United Africa Europe States (primarily Middle Latin (primarily (primarily West East America North Total Gulf of Africa) and Asia Sea) Mexico) ---------- --------- --------- --------- ---------- ----------- For the Six Months Ended June 30, 2019 Time Charter Statistics: Average Rates Per Day $ 12,472 $ 9,414 $ 8,280 $ 10,974 $ 4,743 $ 7,237 Fleet Utilization 31 % 84 % 76 % 67 % 77 % 66 % Fleet Available Days 5,367 2,678 4,087 941 10,000 23,073 Operating Revenues: Time charter $ 20,633 $ 21,173 $ 25,674 $ 6,968 $ 36,452 $ 110,900 Bareboat charter 233 — — 2,299 — 2,532 Other marine services 2,452 116 577 908 3,109 7,162 - -------- - ------- - ------- - ------- - -------- - --------- 23,318 21,289 26,251 10,175 39,561 120,594 - -------- - ------- - ------- - ------- - -------- - --------- Direct Costs and Expenses: Operating: Personnel 9,706 7,295 8,546 2,532 18,638 46,717 Repairs and maintenance 5,293 2,136 4,822 816 4,615 17,682 Drydocking 3,795 290 434 47 387 4,953 Insurance and loss reserves 1,433 452 708 201 572 3,366 Fuel, lubes and supplies 1,790 1,693 1,434 742 1,986 7,645 Other 203 2,879 1,893 1,081 1,383 7,439 - -------- - ------- - ------- - ------- - -------- - --------- 22,220 14,745 17,837 5,419 27,581 87,802 - -------- - ------- - ------- - ------- - -------- - --------- Direct Vessel Profit $ 1,098 $ 6,544 $ 8,414 $ 4,756 $ 11,980 32,792 - -------- - ------- - ------- - ------- - -------- - --------- Other Costs and Expenses: Lease expense $ 5,853 $ 1,572 $ 88 $ 1 $ 951 8,465 Administrative and general 23,639 Depreciation and 10,839 5,115 8,523 3,595 6,615 34,687 amortization - --------- 66,791 - --------- Loss on Asset Dispositions (3,489 ) and Impairments - --------- Operating Loss $ (37,488 ) - --------- As of June 30, 2019 Property and Equipment: Historical cost $ 364,501 $ 220,855 $ 288,677 $ 108,068 $ 240,719 $ 1,222,820 Accumulated depreciation (189,602 ) (62,061 ) (74,815 ) (49,393 ) (149,685 ) (525,556 ) - -------- - ------- - ------- - ------- - -------- - --------- $ 174,899 $ 158,794 $ 213,862 $ 58,675 $ 91,034 $ 697,264 - -------- - ------- - ------- - ------- - -------- - --------- Total Assets (1) $ 312,465 $ 171,084 $ 252,926 $ 123,513 $ 133,437 $ 993,425 - -------- - ------- - ------- - ------- - -------- - ---------

(1) Total assets by region does not include corporate assets, which are $83,271 as of June 30, 2019

SEACOR MARINE HOLDINGS INC. UNAUDITED DIRECT VESSEL PROFIT (“DVP”) BY REGION (in thousands, except statistics)

Three Months Ended -------------------------------------------------------- Jun. 30, Mar. 31, Dec. 31, Sep. 30, Jun. 30, 2019 2019 2018 2018 2018 -------- -------- -------- -------- -------- United States, primarily Gulf of Mexico Time Charter Statistics: Average rates per day worked $ 14,058 $ 10,588 $ 12,656 $ 12,476 $ 10,503 Fleet utilization 34 % 28 % 29 % 30 % 23 % Fleet available days 2,669 2,698 2,983 3,433 3,710 Out-of-service days for repairs, maintenance and 325 232 143 147 292 drydockings Out-of-service days for cold-stacked status 1,322 1,579 1,761 2,101 2,435 Operating Revenues: Time charter $ 12,628 $ 8,005 $ 10,968 $ 12,800 $ 9,052 Bareboat charter 233 — — — — Other marine services 1,320 1,132 8,709 2,722 1,676 - ------ - ------ - ------ - ------ - ------ 14,181 9,137 19,677 15,522 10,728 - ------ - ------ - ------ - ------ - ------ Direct Costs and Expenses: Operating: Personnel 5,203 4,503 5,227 4,853 4,636 Repairs and maintenance 2,515 2,778 1,128 1,801 1,529 Drydocking 1,801 1,994 147 375 910 Insurance and loss reserves 841 592 974 612 902 Fuel, lubes and supplies 1,107 683 1,055 1,120 900 Other 113 90 185 154 29 - ------ - ------ - ------ - ------ - ------ 11,580 10,640 8,716 8,915 8,906 - ------ - ------ - ------ - ------ - ------ Direct Vessel Profit (Loss) $ 2,601 $ (1,503 ) $ 10,961 $ 6,607 $ 1,822 - ------ - ------ - ------ - ------ - ------ Other Costs and Expenses: Lease expense $ 2,942 $ 2,911 $ 2,053 $ 2,078 $ 2,065 Depreciation and amortization 5,341 5,498 5,550 5,227 5,915 Africa, primarily West Africa Time Charter Statistics: Average rates per day worked $ 9,365 $ 9,461 $ 9,411 $ 9,315 $ 9,509 Fleet utilization 81 % 87 % 87 % 82 % 88 % Fleet available days 1,365 1,313 1,310 1,475 1,331 Out-of-service days for repairs, maintenance and 54 58 — 92 46 drydockings Operating Revenues: Time charter $ 10,400 $ 10,773 $ 10,730 $ 11,201 $ 11,122 Other marine services 753 (637 ) 4,247 1,777 350 - ------ - ------ - ------ - ------ - ------ 11,153 10,136 14,977 12,978 11,472 - ------ - ------ - ------ - ------ - ------ Direct Costs and Expenses: Operating: Personnel 3,428 3,867 3,665 4,486 4,314 Repairs and maintenance 952 1,184 873 2,438 1,663 Drydocking (48 ) 338 (28 ) 1,201 910 Insurance and loss reserves 239 213 307 323 248 Fuel, lubes and supplies 939 754 1,176 1,081 900 Other 773 2,106 772 1,103 1,402 - ------ - ------ - ------ - ------ - ------ 6,283 8,462 6,765 10,632 9,437 - ------ - ------ - ------ - ------ - ------ Direct Vessel Profit $ 4,870 $ 1,674 $ 8,212 $ 2,346 $ 2,035 - ------ - ------ - ------ - ------ - ------ Other Costs and Expenses: Lease expense $ 787 $ 785 $ 1,059 $ 1,061 $ 1,092 Depreciation and amortization 2,759 2,356 2,341 2,381 2,924

SEACOR MARINE HOLDINGS INC. UNAUDITED DIRECT VESSEL PROFIT (“DVP”) BY REGION (continued) (in thousands, except statistics)

Three Months Ended -------------------------------------------------------- Jun. 30, Mar. 31, Dec. 31, Sep. 30, Jun. 30, 2019 2019 2018 2018 2018 -------- -------- -------- -------- -------- Middle East and Asia Time Charter Statistics: Average rates per day worked $ 8,182 $ 8,386 $ 8,856 $ 8,156 $ 8,226 Fleet utilization 79 % 72 % 70 % 76 % 82 % Fleet available days 2,026 2,061 2,009 2,024 2,005 Out-of-service days for repairs, maintenance and 73 95 178 76 4 drydockings Out-of-service days for cold-stacked status 115 90 92 92 91 Operating Revenues: Time charter $ 13,175 $ 12,499 $ 12,517 $ 12,590 $ 13,591 Other marine services 349 228 118 (83 ) (792 ) - ------ - ------ - ------ - ------ - ------ 13,524 12,727 12,635 12,507 12,799 - ------ - ------ - ------ - ------ - ------ Direct Costs and Expenses: Operating: Personnel 4,292 4,254 4,354 4,361 4,069 Repairs and maintenance 2,629 2,193 3,077 2,091 3,576 Drydocking 275 159 949 352 72 Insurance and loss reserves 381 327 389 385 361 Fuel, lubes and supplies 725 709 1,179 892 922 Other 793 1,100 984 952 836 - ------ - ------ - ------ - ------ - ------ 9,095 8,742 10,932 9,033 9,836 - ------ - ------ - ------ - ------ - ------ Direct Vessel Profit $ 4,429 $ 3,985 $ 1,703 $ 3,474 $ 2,963 - ------ - ------ - ------ - ------ - ------ Other Costs and Expenses: Lease expense $ 42 $ 46 $ 49 $ 57 $ 59 Depreciation and amortization 4,274 4,249 4,154 4,207 4,311 Latin America Time Charter Statistics: Average rates per day worked $ 8,074 $ 12,900 $ 11,866 $ 17,604 $ 19,127 Fleet utilization 63 % 71 % 72 % 80 % 57 % Fleet available days 400 541 460 531 416 Out-of-service days for repairs, maintenance and 3 5 — — — drydockings Out-of-service days for cold-stacked status 91 90 92 92 91 Operating Revenues: Time charter $ 2,046 $ 4,922 $ 3,934 $ 7,479 $ 4,556 Bareboat charter 1,156 1,143 1,168 1,168 1,156 Other marine services 273 635 183 416 845 - ------ - ------ - ------ - ------ - ------ 3,475 6,700 5,285 9,063 6,557 - ------ - ------ - ------ - ------ - ------ Direct Costs and Expenses: Operating: Personnel 976 1,556 1,142 1,662 1,219 Repairs and maintenance 481 335 362 312 32 Drydocking (32 ) 79 14 103 11 Insurance and loss reserves 66 135 96 163 169 Fuel, lubes and supplies 314 428 384 427 349 Other 560 521 232 350 488 - ------ - ------ - ------ - ------ - ------ 2,365 3,054 2,230 3,017 2,268 - ------ - ------ - ------ - ------ - ------ Direct Vessel Profit $ 1,110 $ 3,646 $ 3,055 $ 6,046 $ 4,289 - ------ - ------ - ------ - ------ - ------ Other Costs and Expenses: Lease expense $ — $ 1 $ 1 $ 1 $ 2 Depreciation and amortization 1,659 1,936 1,888 2,521 2,280

SEACOR MARINE HOLDINGS INC. UNAUDITED DIRECT VESSEL PROFIT (“DVP”) BY REGION (continued) (in thousands, except statistics)

Three Months Ended -------------------------------------------------------- Jun. 30, Mar. 31, Dec. 31, Sep. 30, Jun. 30, 2019 2019 2018 2018 2018 -------- -------- -------- -------- -------- Europe, primarily North Sea Time Charter Statistics: Average rates per day worked 4,686 4,819 4,676 4,287 4,823 Fleet utilization 86 % 67 % 73 % 85 % 76 % Fleet available days 5,077 4,923 5,046 5,154 5,065 Out-of-service days for repairs, maintenance and 174 124 136 240 77 drydockings Out-of-service days for cold-stacked status 91 90 92 61 — Operating Revenues: Time charter $ 20,524 $ 15,928 $ 17,233 $ 18,832 $ 18,505 Other marine services 1,488 1,621 1,125 1,353 640 - ------ - ------ - ------ - ------ - ------ 22,012 17,549 18,358 20,185 19,145 - ------ - ------ - ------ - ------ - ------ Direct Costs and Expenses: Operating: Personnel 10,062 8,576 9,210 9,659 10,495 Repairs and maintenance 2,099 2,516 2,488 2,566 2,270 Drydocking 78 309 314 2,791 1,209 Insurance and loss reserves 365 207 327 374 254 Fuel, lubes and supplies 807 1,179 824 1,170 1,051 Other 791 592 359 441 254 - ------ - ------ - ------ - ------ - ------ 14,202 13,379 13,522 17,001 15,533 - ------ - ------ - ------ - ------ - ------ Direct Vessel Profit $ 7,810 $ 4,170 $ 4,836 $ 3,184 $ 3,612 - ------ - ------ - ------ - ------ - ------ Other Costs and Expenses: Lease expense $ 546 $ 405 $ 267 $ 95 $ 113 Depreciation and amortization 3,461 3,154 3,053 3,006 2,976

SEACOR MARINE HOLDINGS INC. UNAUDITED DIRECT VESSEL PROFIT (“DVP”) BY VESSEL CLASS (in thousands, except statistics)

Three Months Ended -------------------------------------------------------- Jun. 30, Mar. 31, Dec. 31, Sep. 30, Jun. 30, 2019 2019 2018 2018 2018 -------- -------- -------- -------- -------- Anchor handling towing supply Time Charter Statistics: Average rates per day worked $ 7,597 $ 8,502 $ 8,506 $ 9,269 $ 13,381 Fleet utilization 49 % 38 % 26 % 28 % 23 % Fleet available days 910 900 1,012 1,012 866 Out-of-service days for repairs, maintenance and 31 34 12 100 23 drydockings Out-of-service days for cold-stacked status 437 521 644 602 608 Operating Revenues: Time charter $ 3,360 $ 2,875 $ 2,248 $ 2,592 $ 2,712 Other marine services 869 (658 ) 2,426 1,244 (91 ) - ------ - ------ - ------ - ------ - ------ 4,229 2,217 4,674 3,836 2,621 - ------ - ------ - ------ - ------ - ------ Direct Costs and Expenses: Operating: Personnel 2,001 1,390 1,279 1,667 1,593 Repairs and maintenance 632 630 386 1,625 1,281 Drydocking 96 75 (70 ) 1,168 945 Insurance and loss reserves 266 122 219 282 265 Fuel, lubes and supplies 262 62 467 582 586 Other 411 592 568 530 689 - ------ - ------ - ------ - ------ - ------ 3,668 2,871 2,849 5,854 5,359 - ------ - ------ - ------ - ------ - ------ Direct Vessel Profit (Loss) $ 561 $ (654 ) $ 1,825 $ (2,018 ) $ (2,738 ) - ------ - ------ - ------ - ------ - ------ Other Costs and Expenses: Lease expense $ 1,527 $ 1,539 $ 1,847 $ 1,851 $ 1,855 Depreciation and amortization 575 575 679 689 532 Fast support Time Charter Statistics: Average rates per day worked $ 7,624 $ 7,609 $ 7,749 $ 7,148 $ 6,963 Fleet utilization 71 % 68 % 67 % 59 % 62 % Fleet available days 3,275 3,295 3,187 3,709 3,820 Out-of-service days for repairs, maintenance and 134 72 151 131 53 drydockings Out-of-service days for cold-stacked status 545 622 659 1,037 1,191 Operating Revenues: Time charter $ 17,709 $ 17,083 $ 16,453 $ 15,678 $ 16,488 Bareboat charter 233 — — — — Other marine services (179 ) (251 ) (952 ) (834 ) (505 ) - ------ - ------ - ------ - ------ - ------ 17,763 16,832 15,501 14,844 15,983 - ------ - ------ - ------ - ------ - ------ Direct Costs and Expenses: Operating: Personnel 5,796 5,511 5,328 5,826 5,258 Repairs and maintenance 2,682 2,337 2,595 2,641 3,406 Drydocking 136 350 1 432 115 Insurance and loss reserves 385 326 534 407 314 Fuel, lubes and supplies 1,602 1,102 1,368 1,016 1,015 Other 1,713 2,464 1,062 1,718 1,466 - ------ - ------ - ------ - ------ - ------ 12,314 12,090 10,888 12,040 11,574 - ------ - ------ - ------ - ------ - ------ Direct Vessel Profit $ 5,449 $ 4,742 $ 4,613 $ 2,804 $ 4,409 - ------ - ------ - ------ - ------ - ------ Other Costs and Expenses: Lease expense $ 352 $ 352 $ 341 $ 342 $ 342 Depreciation and amortization 5,929 5,944 5,525 5,780 6,585

SEACOR MARINE HOLDINGS INC. UNAUDITED DIRECT VESSEL PROFIT (“DVP”) BY VESSEL CLASS (continued) (in thousands, except statistics)

Three Months Ended -------------------------------------------------------- Jun. 30, Mar. 31, Dec. 31, Sep. 30, Jun. 30, 2019 2019 2018 2018 2018 -------- -------- -------- -------- -------- Supply Time Charter Statistics: Average rates per day worked $ 6,906 $ 7,001 $ 7,050 $ 7,410 $ 7,174 Fleet utilization 53 % 62 % 81 % 82 % 69 % Fleet available days 486 501 460 565 637 Out-of-service days for repairs, maintenance and 118 60 27 — — drydockings Out-of-service days for cold-stacked status — — — — 19 Operating Revenues: Time charter $ 1,787 $ 2,182 $ 2,631 $ 3,442 $ 3,149 Bareboat charter 1,156 1,143 1,168 1,168 1,156 Other marine services 799 781 619 1,066 39 - ------ - ------ - ------ - ------ - ------ 3,742 4,106 4,418 5,676 4,344 - ------ - ------ - ------ - ------ - ------ Direct Costs and Expenses: Operating: Personnel 1,617 1,678 1,487 1,976 1,999 Repairs and maintenance 1,085 619 403 549 259 Drydocking 82 162 1,023 1,624 585 Insurance and loss reserves 78 105 130 145 134 Fuel, lubes and supplies 98 399 445 391 317 Other 842 1,144 762 254 1,048 - ------ - ------ - ------ - ------ - ------ 3,802 4,107 4,250 4,939 4,342 - ------ - ------ - ------ - ------ - ------ Direct Vessel (Loss) Profit $ (60 ) $ (1 ) $ 168 $ 737 $ 2 - ------ - ------ - ------ - ------ - ------ Other Costs and Expenses: Lease expense $ 433 $ 318 $ 178 $ 34 $ — Depreciation and amortization 1,223 1,036 966 1,173 1,394 Emergency Response and Rescue Time Charter Statistics: Average rates per day worked $ 8,562 $ 8,499 $ 8,504 $ 8,692 $ 9,157 Fleet utilization 87 % 82 % 82 % 77 % 80 % Fleet available days 1,547 1,620 1,734 1,809 1,746 Out-of-service days for repairs, maintenance and 15 71 89 117 46 drydockings Operating Revenues: Time charter $ 11,503 $ 11,308 $ 12,024 $ 12,036 $ 12,791 Other marine services 30 31 11 50 39 - ------ - ------ - ------ - ------ - ------ 11,533 11,339 12,035 12,086 12,830 - ------ - ------ - ------ - ------ - ------ Direct Costs and Expenses: Operating: Personnel 6,047 6,133 6,774 5,855 8,148 Repairs and maintenance 1,069 1,422 1,601 1,627 1,464 Drydocking 77 309 273 1,156 624 Insurance and loss reserves 129 60 216 234 143 Fuel, lubes and supplies 690 947 657 975 843 Other 143 240 209 351 144 - ------ - ------ - ------ - ------ - ------ 8,155 9,111 9,730 10,198 11,366 - ------ - ------ - ------ - ------ - ------ Direct Vessel Profit $ 3,378 $ 2,228 $ 2,305 $ 1,888 $ 1,464 - ------ - ------ - ------ - ------ - ------ Other Costs and Expenses: Depreciation and amortization $ 1,082 $ 1,096 $ 1,085 $ 945 $ 681

SEACOR MARINE HOLDINGS INC. UNAUDITED DIRECT VESSEL PROFIT (“DVP”) BY VESSEL CLASS (continued) (in thousands, except statistics)

Three Months Ended -------------------------------------------------------- Jun. 30, Mar. 31, Dec. 31, Sep. 30, Jun. 30, 2019 2019 2018 2018 2018 -------- -------- -------- -------- -------- Specialty Time Charter Statistics: Fleet available days 91 90 92 92 91 Out-of-service days for cold-stacked status 91 90 92 92 91 Operating Revenues: Other marine services $ — $ — $ 337 $ — $ — - ------ - ------ - ------ - ------ - ------ Direct Costs and Expenses: Operating: Personnel 23 65 64 64 79 Repairs and maintenance 3 4 12 31 13 Drydocking — — — — — Insurance and loss reserves 20 8 9 41 25 Fuel, lubes and supplies (24 ) 31 33 65 (29 ) Other 77 95 70 67 93 - ------ - ------ - ------ - ------ - ------ 99 203 188 268 181 - ------ - ------ - ------ - ------ - ------ Direct Vessel (Loss) Profit $ (99 ) $ (203 ) $ 149 $ (268 ) $ (181 ) - ------ - ------ - ------ - ------ - ------ Other Costs and Expenses: Depreciation and amortization 127 128 282 282 283 Liftboats Time Charter Statistics: Average rates per day worked $ 20,993 $ 17,750 $ 18,497 $ 18,993 $ 19,225 Fleet utilization 47 % 46 % 49 % 60 % 43 % Fleet available days 1,729 1,710 1,827 1,932 1,911 Out-of-service days for repairs, maintenance and 292 224 132 86 266 drydockings Out-of-service days for cold-stacked status 455 526 550 554 708 Operating Revenues: Time charter $ 16,932 $ 13,877 $ 16,631 $ 22,171 $ 15,788 Other marine services 1,481 2,080 1,926 2,922 1,569 - ------ - ------ - ------ - ------ - ------ 18,413 15,957 18,557 25,093 17,357 - ------ - ------ - ------ - ------ - ------ Direct Costs and Expenses: Operating: Personnel 5,360 5,097 5,546 5,621 4,671 Repairs and maintenance 2,189 2,828 1,971 1,827 1,553 Drydocking 1,683 1,983 167 433 842 Insurance and loss reserves 921 884 872 630 889 Fuel, lubes and supplies 1,076 1,005 1,485 1,482 1,153 Other 251 444 667 620 336 - ------ - ------ - ------ - ------ - ------ 11,480 12,241 10,708 10,613 9,444 - ------ - ------ - ------ - ------ - ------ Direct Vessel Profit $ 6,933 $ 3,716 $ 7,849 $ 14,480 $ 7,913 - ------ - ------ - ------ - ------ - ------ Other Costs and Expenses: Lease expense $ 1,497 $ 1,498 $ 638 $ 641 $ 644 Depreciation and amortization 6,055 6,053 6,098 6,188 6,333

SEACOR MARINE HOLDINGS INC. UNAUDITED DIRECT VESSEL PROFIT (“DVP”) BY VESSEL CLASS (continued) (in thousands, except statistics)

Three Months Ended --------------------------------------------------- Jun. Mar. Dec. Sep. Jun. 30, 31, 31, 30, 30, 2019 2019 2018 2018 2018 ------- ------- ------- ------- ------- Crew transfer Time Charter Statistics: Average rates per day worked $ 2,431 $ 2,325 $ 2,283 $ 2,253 $ 2,330 Fleet utilization 88 % 60 % 68 % 89 % 73 % Fleet available days 3,499 3,420 3,496 3,498 3,457 Out-of-service days for repairs, maintenance and 39 53 47 123 31 drydockings Out-of-service days for cold-stacked status 91 90 92 61 — Operating Revenues: Time charter $ 7,482 $ 4,802 $ 5,395 $ 6,983 $ 5,898 Other marine services 499 322 460 657 563 - ----- - ----- - ----- - ----- - ----- 7,981 5,124 5,855 7,640 6,461 - ----- - ----- - ----- - ----- - ----- Direct Costs and Expenses: Operating: Personnel 2,665 2,309 2,274 2,471 2,295 Repairs and maintenance 933 1,096 814 806 987 Drydocking — — 2 9 1 Insurance and loss reserves 93 104 94 130 93 Fuel, lubes and supplies 167 189 145 163 219 Other 113 113 165 104 173 - ----- - ----- - ----- - ----- - ----- 3,971 3,811 3,494 3,683 3,768 - ----- - ----- - ----- - ----- - ----- Direct Vessel Profit $ 4,010 $ 1,313 $ 2,361 $ 3,957 $ 2,693 - ----- - ----- - ----- - ----- - ----- Other Costs and Expenses: Lease expense $ — $ — $ — $ (22 ) $ 22 Depreciation and amortization 1,920 2,031 679 689 532 Other Activity Operating Revenues: Other marine services $ 684 $ 674 $ 9,555 $ 1,080 $ 1,105 - ----- - ----- - ----- - ----- - ----- 684 674 9,555 1,080 1,105 - ----- - ----- - ----- - ----- - ----- Direct Costs and Expenses: Operating: Personnel 452 573 846 1,541 690 Repairs and maintenance 83 70 146 102 107 Insurance and loss reserves — (135 ) 19 (12 ) 71 Fuel, lubes and supplies 21 18 18 16 18 Other (520 ) (683 ) (971 ) (644 ) (940 ) - ----- - ----- - ----- - ----- - ----- 36 (157 ) 58 1,003 (54 ) - ----- - ----- - ----- - ----- - ----- Direct Vessel Profit $ 648 $ 831 $ 9,497 $ 77 $ 1,159 - ----- - ----- - ----- - ----- - ----- Other Costs and Expenses: Lease expense $ 508 $ 224 $ 425 $ 446 $ 468 Depreciation and amortization 583 330 196 192 218

SEACOR MARINE HOLDINGS INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (NON-GAAP PRESENTATION) (in thousands)

Three Months Ended ------------------------------------------------------------- Jun. 30, Mar. 31, Dec. 31, Sep. 30, Jun. 30, 2019 2019 2018 2018 2018 --------- --------- --------- --------- --------- Cash Flows from Operating Activities: DVP 20,820 11,972 28,767 $ 21,657 $ 14,721 Operating, leased-in equipment (excluding (4,625 ) (5,157 ) (5,439 ) (5,301 ) (5,341 ) amortization of deferred gains) Administrative and general (excluding provisions for bad debts and amortization of (10,594 ) (11,860 ) (11,869 ) (10,985 ) (13,585 ) share awards) SEACOR Holdings management and guarantee fees (32 ) (29 ) (5 ) (5 ) (7 ) Dividends received from 50% or less owned — 400 400 — 1,324 companies Other, net (excluding non-cash losses) — — (3 ) 249 — - ------- - ------- - ------- - ------- - ------- 5,569 (4,674 ) 11,851 5,615 (2,888 ) Changes in operating assets and liabilities 3,090 5,372 (10,638 ) (16,587 ) (14,575 ) before interest and income taxes Director share awards 894 — — — 893 Restricted stock vested - (282 ) (5 ) (32 ) (51 ) Cash settlements on derivative transactions, 275 (75 ) 1,420 102 (21 ) net Interest paid, excluding capitalized interest (7,691 ) (4,664 ) (5,929 ) (5,498 ) (5,875 ) (1) Interest received 222 357 357 309 352 Income taxes refunded, net 56 1,999 40 (344 ) (12 ) - ------- - ------- - ------- - ------- - ------- Net cash provided by (used in) operating 2,415 (1,967 ) (2,904 ) (16,435 ) (22,177 ) activities - ------- - ------- - ------- - ------- - ------- Cash Flows from Investing Activities: Purchases of property and equipment (19,654 ) (20,813 ) (14,217 ) (21,601 ) (5,983 ) Capitalized interest paid (347 ) (370 ) — (614 ) (1,008 ) Proceeds from disposition of property and 9,268 552 17,476 1,858 3,244 equipment Net change in construction reserve fund 7,997 (48 ) 7,535 2,556 7,209 - ------- - ------- - ------- - ------- - ------- Net investing activities in property and (2,736 ) (20,679 ) 10,794 (17,801 ) 3,462 equipment Investments in and advances to 50% or less (718 ) (1,951 ) (3,672 ) 1,770 (5,610 ) owned companies Net investing activities in third party notes — — 17 — — receivable Sale of subsidiary to joint venture — — — 8,017 — Net cash (used in) provided by investing (3,454 ) (22,630 ) 7,139 (8,014 ) (2,148 ) activities - ------- - ------- - ------- - ------- - ------- Cash Flows from Financing Activities: Payments on long-term debt (3,738 ) (4,361 ) (11,352 ) (2,851 ) (6,395 ) Proceeds from issuance of long-term debt, net — — (336 ) 43,882 — of issue costs Purchase of subsidiary shares from — (3,392 ) — — — noncontrolling interests Proceeds from exercise of stock options and 3 108 20 — 813 Warrants Issuance of stock — — — — 54,012 Net cash (used in) provided by financing (3,735 ) (7,645 ) (11,668 ) 41,031 48,430 activities - ------- - ------- - ------- - ------- - ------- Effects of Exchange Rate Changes on Cash and (309 ) 1,484 (233 ) (253 ) (970 ) Cash Equivalents - ------- - ------- - ------- - ------- - ------- Net Change in Cash, Cash Equivalents and (5,083 ) (30,758 ) (7,666 ) 16,329 23,135 Restricted Cash Cash, Restricted Cash and Cash Equivalents, 66,095 96,853 104,519 88,190 65,055 Beginning of Period - ------- - ------- - ------- - ------- - ------- Cash, Restricted Cash and Cash Equivalents, $ 61,012 $ 66,095 $ 96,853 $ 104,519 $ 88,190 End of Period - ------- - ------- - ------- - ------- - -------

SEACOR MARINE HOLDINGS INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)

June 30, March 31, December September June 30, 2019 2019 31, 30, 2018 2018 2018 ----------- ----------- ----------- ----------- ----------- ASSETS Current Assets: Cash and cash equivalents $ 58,772 $ 63,855 $ 95,195 $ 102,864 $ 86,239 Restricted cash 2,240 2,240 1,657 1,655 1,951 Receivables: Trade, net of allowance for 69,117 67,900 64,125 75,349 57,658 doubtful accounts Other 10,410 9,078 12,082 16,552 16,039 Inventories 2,995 4,139 3,443 3,646 3,666 Prepaid expenses and other 4,123 4,597 2,530 2,692 4,090 - --------- - --------- - --------- - --------- - --------- Total current assets 147,657 151,809 179,032 202,758 169,643 - --------- - --------- - --------- - --------- - --------- Property and Equipment: Historical cost 1,222,820 1,294,945 1,242,733 1,279,000 1,287,855 Accumulated depreciation (525,556 ) (579,441 ) (561,272 ) (568,752 ) (564,477 ) - --------- - --------- - --------- - --------- - --------- 697,264 715,504 681,461 710,248 723,378 Construction in progress 68,228 63,301 88,918 82,953 82,274 - --------- - --------- - --------- - --------- - --------- Net property and equipment 765,492 778,805 770,379 793,201 805,652 - --------- - --------- - --------- - --------- - --------- Right-of-Use Asset - Operating 27,390 30,503 — — — Leases Investments, at Equity, and Advances to 50% or Less Owned 112,418 119,520 121,773 120,340 115,424 Companies Construction Reserve Funds 20,112 28,109 28,061 35,596 38,152 Other Assets 3,627 3,603 3,690 3,582 3,667 - --------- - --------- - --------- - --------- - --------- $ 1,076,696 $ 1,112,349 $ 1,102,935 $ 1,155,477 $ 1,132,538 - --------- - --------- - --------- - --------- - --------- LIABILITIES AND EQUITY Current Liabilities: Current portion of operating lease $ 16,552 $ 17,918 — — — liabilities Current portion of long-term debt 20,651 17,426 16,812 17,426 22,858 Accounts payable and accrued 33,909 27,263 19,370 20,480 23,774 expenses Due to SEACOR Holdings 74 535 452 463 746 Other current liabilities 48,593 47,567 46,983 63,772 56,469 - --------- - --------- - --------- - --------- - --------- Total current liabilities 119,779 110,709 83,617 102,141 103,847 - --------- - --------- - --------- - --------- - --------- Long-Term Operating Lease 16,775 19,851 — — — Liabilities Long-Term Debt 379,075 384,344 387,854 397,738 348,912 Conversion Option Liability on 7,599 6,201 5,276 17,928 21,886 Convertible Senior Notes Deferred Income Taxes 37,063 41,831 44,682 46,120 49,789 Deferred Gains and Other 5,165 7,290 26,571 26,662 27,289 Liabilities - --------- - --------- - --------- - --------- - --------- Total liabilities 565,456 570,226 548,000 590,589 551,723 - --------- - --------- - --------- - --------- - --------- Equity: SEACOR Marine Holdings Inc. stockholders’ equity: Common stock 218 211 204 204 204 Additional paid-in capital 424,549 422,830 415,372 414,460 413,754 Retained earnings 83,312 111,701 126,834 134,628 150,585 Shares held in treasury (374 ) (373 ) (91 ) (86 ) (54 ) Accumulated other comprehensive (19,156 ) (16,812 ) (16,788 ) (13,945 ) (13,129 ) loss, net of tax - --------- - --------- - --------- - --------- - --------- 488,549 517,557 525,531 535,261 551,360 Noncontrolling interests in 22,691 24,566 29,404 29,627 29,455 subsidiaries - --------- - --------- - --------- - --------- - --------- Total equity 511,240 542,123 554,935 564,888 580,815 - --------- - --------- - --------- - --------- - --------- $ 1,076,696 $ 1,112,349 $ 1,102,935 $ 1,155,477 $ 1,132,538 - --------- - --------- - --------- - --------- - ---------

SEACOR MARINE HOLDINGS INC. UNAUDITED FLEET COUNTS

June Marc Dece Sept 30, h mber embe June 2019 31, 31, r 30, (1) 2019 2018 30, 2018 2018 --------- --- --- --- --- --- AHTS 9 11 12 13 13 FSV 40 42 41 47 49 Supply 41 42 39 29 29 ERRV 18 18 19 20 21 Specialty 6 7 7 4 4 Liftboats 19 19 19 21 21 CTV 44 43 42 42 42 -- -- -- -- -- 177 182 179 176 179 --- --- --- --- ---

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(1) Excludes five owned and one leased-in offshore support vessels that have been retired and removed from service.

SEACOR MARINE HOLDINGS INC. UNAUDITED EXPECTED FLEET DELIVERIES

2019 2020 ------- ----------------- Def Tot Q3 Q4 Q1 Q2 Q3 Q4 err al ed -- -- -- -- -- -- -- -- Fast support — — — 1 — — 2 3 Crew transfer — 1 1 — — — — 2 Platform supply 1 — 2 1 — 1 — 5

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