TechnipFMC Announces Second Quarter 2017 Results

Regulatory News:

TechnipFMC plc (Paris:FTI) (NYSE:FTI) (ISIN:GB00BDSFG982) (NYSE and
Euronext: FTI) today reported second quarter 2017 results.

Total Company net income was $164.9 million. Despite lower revenue,
segment operating profit and adjusted EBITDA improved from the prior
year. Adjusted EBITDA, which excludes charges and credits, was $501.3
million, an increase of 44.3 percent from the prior year; adjusted
EBITDA margin of 13.0 percent improved 600 basis points.

Summary Financial Statements¹

Reconciliation of U.S. GAAP to non-GAAP financial measures are
detailed in financial schedules below.

(In millions except per share amounts)		Three Months Ended June 30, 2017		Three Months Ended June 30, 2016 (Pro Forma)		Change
Revenue		$3,845.0		$4,959.3		(22.5%)
Net income		164.9		55.2		198.7%
Diluted EPS		$0.35
Adjusted EBITDA		$501.3		$347.5		44.3%
Adjusted EBITDA margin		13.0%		7.0%		+600 bps
Net income, excluding charges and credits		211.9
Diluted EPS, excluding charges and credits		$0.45
Inbound orders		3,153.0
Backlog		15,182.9

____________________

¹ All prior year quarter comparisons are to pro forma results
for 2016 as if the merger had been completed on January 1, 2016 and
fully consolidated the Yamal LNG joint venture for the full period.

Diluted earnings per share were $0.35, which includes total Company
pre-tax charges and credits of $64.9 million, or $0.10 per diluted share
as detailed in the financial schedules below. Adjusted diluted earnings
per share were $0.45.

“As a result of our solid execution, achievement of key project
milestones, and intense focus on efficiency, we delivered strong
performance across all Segments,” said Doug Pferdehirt, CEO of
TechnipFMC. “Both Subsea and Onshore/Offshore performed well above plan
in the quarter. Our first half results give us even greater confidence
that we will meet or exceed our 2017 financial objectives.”

“We just passed our six-month anniversary as a new company, and our
merger integration efforts are delivering results. We remain confident
in our ability to reach our synergy targets. In addition, we are
accelerating the development of unique technologies, as well as,
identifying additional integrated offerings across our broad portfolio.”

“Our Subsea inbound orders accelerated to $1.8 billion in the quarter.
During the period, we were awarded a contract for the delivery of subsea
production equipment for ExxonMobil’s Liza project in Guyana,
incorporating new technology that allowed us to meet a fast-tracked
delivery schedule.” Pferdehirt added, “We also were awarded an important
subsea package for ENI’s Coral South floating LNG (FLNG) project in
Mozambique. The subsea package was part of an integrated contract with
the project’s FLNG scope that will be executed through our
Onshore/Offshore segment.”

“During the quarter, we achieved a significant milestone on the Prelude
FLNG project. The vessel sailed away from South Korea on June 29^th
and has just arrived in Australian waters. Building upon this milestone,
our execution on the Coral FLNG project will benefit from the extensive
capabilities we have developed.”

“We remain relentless in our focus to deliver significant cost
reductions for our clients that can be achieved through our integrated
approach (iEPCI™). Our first iEPCI™ contract for Statoil’s Trestakk
project is progressing well, and we were pleased to again be selected by
Statoil in the second quarter to fully integrate the Visund Nord
development.”

“The increase in major project FIDs and the acceleration of integrated
FEED (iFEED™) prospects during the first half of 2017 certainly adds
confidence to our expectation for a step-up in Subsea orders for full
year 2017.” Pferdehirt added, “While project economics continue to
improve, the recent commodity price uncertainty could result in a
slowing of the pace of the recovery.”

Pferdehirt concluded, “These solid operational results and our strong
balance sheet enable us to continue to focus on shareholder returns.
Last quarter, we announced the authorization of a share repurchase
program of up to $500 million which we intend to complete no later than
the end of 2018. Additionally, the Company’s Board of Directors
reaffirmed its commitment to declare a quarterly dividend following the
third quarter 2017 results. We believe this combination of share
repurchase and quarterly dividends demonstrates our commitment to
improving shareholder returns.”

Operational and Financial Highlights – Second Quarter 2017

Subsea

Financial Highlights¹

Reconciliation of U.S. GAAP to non-GAAP financial measures are
detailed in financial schedules below.

(In millions)		Three Months Ended June 30, 2017		Three Months Ended June 30, 2016 (Pro Forma)		Change
Revenue		$1,730.3		$2,401.8		(28.0%)
Operating profit		236.1		261.7		(9.8%)
Adjusted EBITDA		376.7		405.4		(7.1%)
Adjusted EBITDA margin		21.8%		16.9%		+490 bps
Inbound orders		1,773.0
Backlog		6,186.8

Subsea reported second quarter revenue of $1.7 billion. Revenue was down
28 percent from the prior year, primarily due to a reduction in project
activity within Europe and Africa, partially offset by increased project
activity in Asia Pacific. Prior-year declines in inbound orders continue
to impact near-term revenue.

Subsea reported operating profit of $236.1 million; adjusted EBITDA was
$376.7 million with a margin of 21.8 percent. Operating profit margin
increased from the prior year results despite the significant revenue
decline. Operating margin performance reflected the results of strong
project execution, cost reductions, and ongoing restructuring
activities. These same factors drove the significant year-over-year
improvement in adjusted EBITDA margin, which increased 490 basis points
from the prior year results.

Vessel utilization rate for the second quarter of 2017 was consistent
with the prior quarter at 67 percent.

Second Quarter Subsea Highlights

• Statoil Trestakk iEPCI™
  Project is progressing as
  scheduled for delivery of the Company’s first integrated EPCI project.

• ENI Jangkrik
  Offshore campaign was completed following
  on-time delivery of the subsea production system.

• BP Quad 204
  Project achieved first oil and is slated for
  completion in the third quarter of 2017.

• Total Moho Nord
  Project has been completed with final
  closeout ongoing.

Subsea inbound orders for the quarter was $1.8 billion and included the
following announced awards:

• ENI Coral South FLNG in Mozambique
  Subsea scope awarded as
  part of an integrated package with the EPCI contract for Coral South
  FLNG. Contract includes the Engineering, Procurement, Construction,
  Installation, Commissioning and Start-up (EPCIC) of the Coral South
  FLNG facility and its associated risers and subsea flowlines system,
  as well as the installation of umbilicals and subsea equipment.

• ExxonMobil Liza in Guyana
  Contract for the engineering,
  manufacture and delivery of the subsea equipment for the Liza deep
  water project. The award scope includes seventeen total enhanced
  vertical deep water trees and associated tooling, as well as five
  manifolds and associated controls and tie-in equipment.

• Woodside Riserless Light Well Intervention and subsea services
  contract in Australia
  Three-year frame agreement for
  Riserless Light Well Intervention (RLWI) and subsea services,
  including intervention, installation, and plug and abandonment
  services.

• Statoil Visund Nord in Norway
  Second integrated award from
  Statoil. The contract will be executed as an iEPCI™ project.

Estimated Backlog Scheduling as of June 30, 2017 (In millions)		Subsea
2017 (6 months)		$2,292
2018		2,056
2019 and beyond		1,839
Total		$6,187

• Backlog schedule does not include subsea services.
• For the ENI Coral South project, the scope of work attributed to
  the risers and subsea flowlines, as well the installation of the
  umbilical and subsea equipment, is fully consolidated in the financial
  results of our Subsea business.

Onshore/Offshore

Financial Highlights¹

Reconciliation of U.S. GAAP to non-GAAP financial measures are
detailed in financial schedules below.

(In millions)		Three Months Ended June 30, 2017		Three Months Ended June 30, 2016 (Pro Forma)		Change
Revenue		$1,812.9		$2,261.4		(19.8%)
Operating profit		204.5		62.5		227.2%
Adjusted EBITDA		187.7		101.8		84.4%
Adjusted EBITDA margin		10.4%		4.5%		+590 bps
Inbound orders		1,103.7
Backlog		8,582.0

Onshore/Offshore reported second quarter revenue of $1.8 billion.
Revenue declined 19.8 percent from the prior-year quarter. Revenue was
lower due to the completion of several projects since the prior year
period, most notably in the Middle East and Americas.

Onshore/Offshore reported operating profit of $204.5 million; adjusted
EBITDA was $187.7 million with a margin of 10.4 percent. Operating
profit and margin improved year-over-year despite the revenue decline as
project profitability improved with the achievement of key construction
milestones. Results also benefited from the successful resolution of
contracts, including the Algiers Refinery and Dong Hejre project. These
same factors drove the significant year-over-year improvement in
adjusted EBITDA and margin; adjusted EBITDA margin increased 590 basis
points from the prior year results.

Second Quarter Onshore/Offshore Highlights

• Yamal LNG
  The last two modules to be fabricated in
  Indonesia sailed away on May 27, 2017, marking another successful
  milestone for the Yamal project. Fabrication of modules in China, 124
  in total, will be completed shortly with the last sail away planned
  this quarter. 109 modules have already been delivered to the Sabetta
  construction site.

• Shell Prelude FLNG
  Prelude, Shell’s FLNG facility, set
  sail for Australia on June 29, 2017. Designed for water-depths between
  200 to 250 metres deep, the Prelude FLNG facility can produce 3.6
  million tonnes per annum (mtpa) of LNG, 1.3 mtpa of condensate, and
  0.4 mtpa of LPG once operating. TechnipFMC provides the project
  management, engineering, procurement, installation, and commissioning
  for Prelude FLNG.

• BP Juniper
  Successful hook-up of the Juniper facility in
  April. The normally unmanned platform will produce gas from fields
  located off the south-east coast of Trinidad.

• Statoil Aasta Hansteen Spar
  Aasta Hansteen spar, the
  largest and one of the most sophisticated spar designs, arrived in
  Norway on June 19, 2017. TechnipFMC scope includes the design, supply
  and delivery of the complete hull ready for mating for the North Sea.

• CP Chem Polyethylene
  The mechanical completion certificate
  was obtained for the CP Chem polyethylene plant on June 16, 2017.

Onshore/Offshore inbound orders for the quarter was $1.1 billion and
included the following announced awards:

• ENI Coral South FLNG in Mozambique
  Major integrated
  contract that covers the Engineering, Procurement, Construction,
  Installation, Commissioning and Start-up (EPCIC) of the Coral South
  FLNG facility.

• Novatek Arctic LNG 2 FEED
  Novatek announced the signing of
  a Framework Agreement on Strategic Cooperation with TechnipFMC and
  partners. The agreement is focused on designing and developing future
  LNG plants based on gravity-based structures for Arctic LNG 2 as well
  as Novatek’s subsequent LNG projects.

Estimated Backlog Scheduling as of June 30, 2017 (In millions)		Onshore/Offshore
2017 (6 months)		$3,673
2018		3,295
2019 and beyond		1,614
Total		$8,582

• Backlog does not capture all revenue potential in the coming years
  given reimbursable scope portions of existing contracts.
• The Company is not a majority holder of the Coral FLNG joint
  venture and therefore does not fully consolidate the financial
  results. Inbound orders and backlog for this portion of the Coral
  project only reflects work awarded directly to affiliates of
  TechnipFMC by the joint venture.

Surface Technologies

Financial Highlights¹

Reconciliation of U.S. GAAP to non-GAAP financial measures are
detailed in financial schedules below.

(In millions)		Three Months Ended June 30, 2017		Three Months Ended June 30, 2016 (Pro Forma)		Change
Revenue		$300.0		$303.8		(1.3%)
Operating profit		(1.0)		(24.2)		n/m
Adjusted EBITDA		35.9		8.8		308.0%
Adjusted EBITDA margin		12.0%		2.9%		+910 bps
Inbound orders		276.3
Backlog		414.1

Surface Technologies reported second quarter revenue of $300 million.
Revenue was effectively unchanged from the prior-year quarter.

Surface Technologies reported an operating loss of $1 million; excluding
charges and credits, operating profit was $22.5 million. Adjusted EBITDA
was $35.9 million with a margin of 12.0 percent.

Operating profit and margin improved significantly year-over-year due to
the benefit of product mix related to fluid control sales and a more
favorable cost structure. These same factors drove the significant
year-over-year improvement in adjusted EBITDA and margin; adjusted
EBITDA margin increased 910 basis points from the prior year results.

In the North American market, we continued to experience strong demand
for pressure control equipment, driven by increased activity and greater
completion intensity. Hydraulic fracturing fleet reactivations continued
sequentially, leading to growth in the installed base of active
equipment that should generate higher levels of consumable demand. As
anticipated, inbound orders associated with fleet reactivations
moderated in the quarter, but consumables continued at strong levels.

Activity levels outside North America remain resilient, although pricing
continues to impact near-term profitability. Pricing has stabilized in
most international markets, with only limited improvement in a few
select markets. The Middle East and North Africa continue to offer the
best near-term outlook, with strength on both land and shallow water;
shallow water opportunities are also prevalent in the North Sea for the
Surface Technologies business.

Inbound orders for the quarter was $276.3 million. Backlog was $414.1
million. In this segment, backlog is generally consumed within six
months given the short-cycle nature of the business.

Corporate Items

Corporate expense in the second quarter was $122.3 million. Excluding
charges and credits of $22.8 million, corporate expense was $99.5
million, which included $62.0 million of foreign exchange losses.

Net interest expense was $72.1 million in the quarter, including an
increase in the liability payable to joint venture partners of $61.8
million.

Total depreciation and amortization for the second quarter was $159.5
million, including depreciation and amortization related to purchase
price accounting for the merger of $40.4 million.

Capital expenditures were $56.3 million.

The Company recorded a tax provision of $86.2 million. The reported tax
rate was 35.2 percent. When excluding the impact of a charge associated
with a project cancellation in Venezuela, the effective tax rate was
25.9 percent.

Guidance

The Company’s guidance for 2017 is provided below. The following updates
are reflected in the revised outlook:

• Onshore/Offshore EBITDA margin² of at least 8.0% (excluding
  charges and credits), versus prior guidance of at least 6.5%. The
  increase incorporates the strong results of the first half relative to
  guidance.
• Other updates include net interest expense, tax rate, and merger
  integration and restructuring costs.

Subsea		Onshore/Offshore		Surface Technologies
Revenue at least $6.1 billion   EBITDA margin2 at least 17%(excluding amortization related impact of purchase price accounting, and other charges and credits)		Revenue at least $7.3 billion   EBITDA margin2 at least 8% (excluding amortization related impact of purchase price accounting, and other charges and credits)*		Revenue at least $1.4 billion   EBITDA margin2 at least 13% (excluding amortization related impact of purchase price accounting, and other charges and credits)
TechnipFMC
Corporate Expense $50 - $55 million per quarter (excluding the impact of foreign currency fluctuations)
Net Interest Expense $20 – $22 million per quarter*
Tax Rate 28% - 32%*
Capital Expenditures approximately $300 million
Merger Integration and Restructuring Costs $125 million Q3-Q4 (total)*
Cost Synergies target remains $400 million annual savings ($200 million exit run-rate 12/31/17, $400 million exit run-rate 12/31/18)
*Items updated July 26, 2017

____________________

² Our guidance measure, adjusted EBITDA margin, is a non-GAAP
measure. We are unable to provide a reconciliation to a comparable GAAP
measure on a forward-looking basis without unreasonable effort because
of the unpredictability of the individual components of the most
directly comparable GAAP financial measure and the variability of items
excluded from such measure. Such information may have a significant, and
potentially unpredictable, impact on our future financial results.

Teleconference

The Company will host a teleconference on Thursday, July 27, 2017 to
discuss the second quarter 2017 financial results. The call will begin
at 1 p.m. London time (8 a.m. New York time). Dial-in information and an
accompanying presentation can be found at www.technipfmc.com.

Webcast access will also be available on our website prior to the start
of the call. An archived audio replay will be available after the event
at the same website address. In the event of a disruption of service or
technical difficulty during the call, information will be posted on our
website.

###

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 40,000 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.

This communication 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. Words such as “believe,” “expect,” “anticipate,” “plan,”
“intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,”
“outlook” and similar expressions are intended to identify
forward-looking statements, which are generally not historical in
nature. Such forward-looking statements involve significant risks,
uncertainties and assumptions that could cause actual results to differ
materially from our historical experience and our present expectations
or projections, including the following known material factors:

• unanticipated changes relating to competitive factors in our
  industry;
• demand for our products and services, which is affected by changes
  in the price of, and demand for, crude oil and natural gas in domestic
  and international markets;
• our ability to develop and implement new technologies and services,
  as well as our ability to protect and maintain critical intellectual
  property assets;
• potential liabilities arising out of the installation or use of our
  products;
• cost overruns related to our fixed price contracts or asset
  construction projects that may affect revenue;
• disruptions in the timely delivery of our backlog and its effect on
  our future sales, profitability, and our relationships with our
  customers;
• risks related to reliance on subcontractors, suppliers and joint
  venture partners in the performance of our contracts;
• ability to hire and retain key personnel;
• piracy risks for our maritime employees and assets;
• the cumulative loss of major contracts or alliances;
• U.S. and international laws and regulations, including
  environmental regulations, that may increase our costs, limit the
  demand for our products and services or restrict our operations;
• disruptions in the political, regulatory, economic and social
  conditions of the countries in which we conduct business;
• risks associated with The Depository Trust Company and Euroclear
  for clearance services for shares traded on the NYSE and Euronext
  Paris, respectively;
• results of the United Kingdom’s referendum on withdrawal from the
  European Union;
• risks associated with being an English public limited company,
  including the need for court approval of “distributable profits” and
  stockholder approval of certain capital structure decisions;
• ability to pay dividends or repurchase shares in accordance with
  our announced capital allocation plan;
• compliance with covenants under our debt instruments and conditions
  in the credit markets;
• downgrade in the ratings of our debt could restrict our ability to
  access the debt capital markets;
• the outcome of uninsured claims and litigation against us;
• the risks of currency exchange rate fluctuations associated with
  our international operations;
• risks that the legacy businesses of FMC Technologies, Inc. and
  Technip S.A. will not be integrated successfully or that the combined
  company will not realize estimated cost savings, value of certain tax
  assets, synergies and growth or that such benefits may take longer to
  realize than expected;
• unanticipated merger-related costs;
• failure of our information technology infrastructure or any
  significant breach of security;
• risks associated with tax liabilities, or changes in U.S. federal
  or international tax laws or interpretations to which they are
  subject; and
• such other risk factors set forth in our filings with the United
  States Securities and Exchange Commission and in our filings with the
  Autorité des marchés financiers or the U.K. Financial Conduct
  Authority.

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.

TECHNIPFMC plc AND CONSOLIDATED SUBSIDIARIES

GAAP FINANCIAL STATEMENTS

The U.S. GAAP financial statements for TechnipFMC plc and consolidated
subsidiaries are provided on the following pages. The financial results
reflect the following information:

• On January 16, 2017, TechnipFMC was created by the business
  combination of Technip S.A. (Technip) and FMC Technologies, Inc. (FMC
  Technologies).
• In December of 2016, Technip increased its ownership in the Yamal LNG
  joint venture and became the controlling shareholder. Under US GAAP,
  this resulted in full consolidation of the joint venture on the date
  of the transaction.

Therefore, the results for the three and six months ended June 30, 2017:

1. Include Technip for the full period;

2. Include the results of FMC Technologies for the period January 17 to
June 30, 2017; revenue of $112.9 million during the period from January
1 to January 16, 2017 were excluded, of which approximately 70 percent
came from the Subsea segment; and

3. Fully consolidate the Yamal LNG joint venture for the full period,
within the Onshore/Offshore segment.

The results for the three and six months ended June 30, 2016 only
include the results of Technip, inclusive of the equity in affiliate
income from the Yamal LNG joint venture.

When referencing these financial statements, adjusted EBITDA is also
used to describe EBITDA excluding amortization related to the impact of
purchase price accounting and other charges and credits.

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In millions except per share amounts)
			(Unaudited)
			Three Months Ended June 30					Six Months Ended June 30
			2017		2016			2017		2016
Revenue		$	3,845.0	$	2,370.5		$	7,233.0	$	4,776.2
Costs and expenses			3,490.1		2,176.4			6,832.3		4,385.7
			354.9		194.1			400.7		390.5
Other income (expense), net			(37.6)		(77.2)			35.3		(93.8)
Income before net interest expense and income taxes			317.3		116.9			436.0		296.7
Net interest expense			(72.1)		(7.7)			(154.2)		(21.0)
Income before income taxes			245.2		109.2			281.8		275.7
Provision for income taxes			86.2		5.4			138.0		51.3
Net income			159.0		103.8			143.8		224.4
Net (income) loss attributable to noncontrolling interests			5.9		0.2			2.4		0.3
Net income attributable to TechnipFMC plc		$	164.9	$	104.0		$	146.2	$	224.7
Earnings per share attributable to TechnipFMC plc:
Basic		$	0.35	$	0.87		$	0.31	$	1.89
Diluted		$	0.35	$	0.83		$	0.31	$	1.81
Weighted average shares outstanding:
Basic			466.7		119.5			466.7		118.9
Diluted			468.4		125.2			468.2		124.5

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES BUSINESS SEGMENT DATA (In millions)
			(Unaudited)
			Three Months Ended June 30					Six Months Ended June 30
			2017		2016			2017		2016
Revenue
Subsea		$	1,730.3	$	1,547.2		$	3,107.0	$	3,064.4
Onshore/Offshore			1,812.9		823.3			3,576.9		1,711.8
Surface Technologies			300.0		-			548.4		-
Other revenue and intercompany eliminations			1.8		-			0.7		-
		$	3,845.0	$	2,370.5		$	7,233.0	$	4,776.2
Income before income taxes
Segment operating profit (loss)
Subsea		$	236.1	$	191.5		$	290.3	$	387.9
Onshore/Offshore			204.5		30.5			347.3		68.9
Surface Technologies			(1.0)		-			(19.6)		-
Tota segment operating profit			439.6		222.0			618.0		456.8
Corporate items
Corporate expense. net (1)			(122.3)		(105.1)			(182.0)		(160.1)
Interest expense			(72.1)		(7.7)			(154.2)		(21.0)
Total corporate items			(194.4)		(112.8)			(336.2)		(181.1)
Net Income before income taxes (2)		$	245.2	$	109.2		$	281.8	$	275.7
(1) Corporate expense, net primarily includes corporate staff expenses, stock-based compensation expenses, other employee benefits, certain foreign exchange gains and losses, and merger-related transaction expenses.
(2) Includes amounts attributable to noncontrolling interests.

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES BUSINESS SEGMENT DATA (Unaudited and in millions)
		Three Months Ended June 30				Six Months Ended June 30
		2017		2016		2017		2016
Inbound Orders (1)
Subsea	$	1,773.0	$	840.1	$	2,439.0	$	1,330.5
Onshore/Offshore		1,103.7		811.3		1,785.7		1,342.0
Surface Technologies		276.3		-		517.8		-
Total inbound orders	$	3,153.0	$	1,651.4	$	4,742.5	$	2,672.5
						June 30
						2017		2016
Order Backlog (2)
Subsea					$	6,186.8	$	6,547.8
Onshore/Offshore						8,582.0		8,528.2
Surface Technologies						414.1		-
Total order backlog					$	15,182.9	$	15,076.0
(1) Inbound orders represent the estimated sales value of confirmed customer orders received during the reporting period.
(2) Order backlog is calculated as the estimated sales value of unfilled, confirmed customer orders at the reporting date.

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In millions)
			(Unaudited)
			June 30, 2017			December 31, 2016
Cash and cash equivalents		$	7,179.1		$	6,269.3
Trade receivables, net			2,159.3			2,024.5
Costs in excess of billings			1,168.3			485.8
Inventories. net			899.1			334.7
Other current assets			2,524.9			1,822.9
Total current assets			13,930.7			10,937.2
Property, plant and equipment, net			3,867.0			2,620.1
Goodwill			9,072.3			3,718.3
Intangible assets. net			1,444.4			173.7
Other assets			1,210.1			1,240.4
Total assets		$	29,524.5		$	18,689.7
Short-term debt and current portion of long-term debt		$	471.2		$	683.6
Accounts payable, trade			4,092.3			3,837.7
Advance payments			129.6			411.1
Billings in excess of costs			3,751.9			3,323.0
Other current liabilities			3,053.4			2,633.5
Total current liabilities			11,498.4			10,888.9
Long-term debt, less current portion			3,301.3			1,869.3
Other liabilities			1,175.5			819.6
TechnipFMC plc stockholders' equity			13,551.2			5,123.6
Noncontrolling interests			(1.9)			(11.7)
Total liabilities and equity		$	29,524.5		$	18,689.7

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions)
			(Unaudited)
			Six Months Ended June 30
			2017			2016
Cash provided (required) by operating activities:
Net income		$	143.8		$	224.4
Depreciation and amortization			310.7			147.7
Trade accounts receivable, net and costs in excess of billings			715.1			(398.9)
Inventories, net			190.2			38.9
Accounts payable, trade			(245.3)			64.2
Advance payments and billings in excess of costs			(376.2)			194.7
Other			(444.0)			155.2
Net cash provided by operating activities			294.3			426.2
Cash provided (required) by investing activities:
Capital expenditures			(107.5)			(68.9)
Cash acquired in merger of Technip and FMC Technologies			1,479.2			-
Other			15.1			(79.3)
Net cash provided (required) by investing activities			1,386.8			(148.2)
Cash provided (required) by financing activities:
Net increase (decrease) in debt			(663.9)			(291.5)
Dividends paid			-			(112.3)
Other			(121.3)			0.8
Net cash required by financing activities			(785.2)			(403.0)
Effect of changes in foreign exchange rates on cash and cash equivalents			13.9			79.4
Increase (decrease) in cash and cash equivalents			909.8			(45.6)
Cash and cash equivalents. beginning of period			6,269.3			3,178.0
Cash and cash equivalents. end of period		$	7,179.1		$	3,132.4

TECHNIPFMC plc AND CONSOLIDATED SUBSIDIARIES

NON-GAAP FINANCIAL MEASURES

The Reconciliation of U.S. GAAP to non-GAAP financial measures for
TechnipFMC plc and consolidated subsidiaries are provided on the
following page. The financial results reflect the following information:

• On January 16, 2017, TechnipFMC was created by the business
  combination of Technip S.A. (Technip) and FMC Technologies, Inc. (FMC
  Technologies).
• In December of 2016, Technip increased its ownership in the Yamal LNG
  joint venture and became the controlling shareholder. Under US GAAP,
  this would have resulted in full consolidation of the joint venture on
  the date of the transaction.

The Non-GAAP results for the three and six months ended June 30, 2017:

1. Include the results of Technip for the full period;

2. Include the results of FMC Technologies for the period January 17 to
June 30, 2017; revenue of $112.9 million during the period from January
1 to January 16, 2017 were excluded, of which approximately 70 percent
from Subsea and the remainder from Surface Technologies; and

3. Fully consolidate the Yamal LNG joint venture for the full period,
within the Onshore/Offshore segment.

The Non-GAAP pro forma results for the three and six months ended June
30, 2016:

1. Include the results of both Technip and FMC Technologies for the full
period;

2. Combine FMC Technologies’ former Surface Technologies and Energy
Infrastructure segments to form the pro forma Surface Technologies
segment;

3. Purchase price accounting adjustments applied on an equal basis to
results for the three and six months ended June 30, 2017 to provide
comparability; and

4. Fully consolidate the Yamal LNG joint venture for the full period,
within the Onshore/Offshore segment.

When referencing these financial statements, adjusted EBITDA is also
used to describe EBITDA excluding amortization related to the impact of
purchase price accounting and other charges and credits.

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES
RECONCILIATION
OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In millions,
unaudited)

In addition to financial results determined in accordance with U.S.
generally accepted accounting principles (GAAP), the Second Quarter 2017
Earnings Release also includes non-GAAP financial measures (as defined
in Item 10 of Regulation S-K of the Securities Exchange Act of 1934, as
amended) and describes performance on a year-over-year basis against
2016 pro forma results and measures. Net income, excluding charges and
credits, as well as measures derived from it (including Diluted EPS,
excluding charges and credits; Income before net interest expense and
taxes, excluding charges and credits ("Adjusted Operating profit");
Depreciation and amortization, excluding charges and credits; Earnings
before net interest expense, income taxes, depreciation and
amortization, excluding charges and credits ("Adjusted EBITDA"); and net
cash) are non-GAAP financial measures. Management believes that the
exclusion of charges and credits from these financial measures enables
investors and management to more effectively evaluate TechnipFMC's
operations and consolidated results of operations period-over-period,
and to identify operating trends that could otherwise be masked or
misleading to both investors and management by the excluded items. These
measures are also used by management as performance measures in
determining certain incentive compensation. The foregoing non-GAAP
financial measures should be considered by investors in addition to, not
as a substitute for or superior to, other measures of financial
performance prepared in accordance with GAAP. The following is a
reconciliation of the most comparable financial measures under GAAP to
the non-GAAP financial measures.

		Three Months Ended June 30, 2017
		Net income attributable to TechnipFMC plc			Net (income) loss attributable to noncontrolling interests			Provision for income taxes			Net interest expense			Income before net interest expense and income taxes (Operating profit)			Depreciation and amortization			Earnings before net interest expense, income taxes, depreciation and amortization (EBITDA)
TechnipFMC plc,as reported	$	164.9		$	5.9		$	86.2		$	(72.1)		$	317.3		$	159.5		$	476.8
Charges and (credits):
Impairment and other charges		0.3			-			0.1			-			0.4			-			0.4
Restructuring and other severance charges		(7.9)			-			(4.8)			-			(12.7)			-			(12.7)
Business combination transaction and integration costs		15.2			-			8.1			-			23.3			-			23.3
Change in accounting estimate		16.0						5.9			-			21.9						21.9
Purchase price accounting adjustments		23.4			-			8.6			-			32.0			(40.4)			(8.4)
Adjusted financial measures	$	211.9		$	5.9		$	104.1		$	(72.1)		$	382.2		$	119.1		$	501.3
		Pro Forma Three Months Ended June 30, 2016
(including legacy FMC Technologies and PPA adjustments)		Net income attributable to TechnipFMC plc			Net (income) loss attributable to noncontrolling interests			Provision for income taxes			Net interest expense			Income before net interest expense and income taxes (Operating profit)			Depreciation and amortization			Earnings before net interest expense, income taxes, depreciation and amortization (EBITDA)
TechnipFMC plc, as pro forma	$	55.2		$	0.3		$	60.8		$	13.0		$	102.7		$	161.5		$	264.2
Charges and (credits):
Impairment and other charges		25.7			-			12.5			-			38.2			-			38.2
Restructuring and other severance charges		25.0			-			11.8			-			36.8			-			36.8
Business combination transaction and integration costs		11.1			-			5.6			-			16.7			-			16.7
Purchase price accounting adjustments		23.4			-			8.6			-			32.0			(40.4)			(8.4)
Adjusted financial measures	$	140.4		$	0.3		$	99.3		$	13.0		$	226.4		$	121.1		$	347.5

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES
RECONCILIATION
OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In millions,
unaudited)

In addition to financial results determined in accordance with U.S.
generally accepted accounting principles (GAAP), the Second Quarter 2017
Earnings Release also includes non-GAAP financial measures (as defined
in Item 10 of Regulation S-K of the Securities Exchange Act of 1934, as
amended) and describes performance on a year-over-year basis against
2016 pro forma results and measures. Net income, excluding charges and
credits, as well as measures derived from it (including Diluted EPS,
excluding charges and credits; Income before net interest expense and
taxes, excluding charges and credits ("Adjusted Operating profit");
Depreciation and amortization, excluding charges and credits; Earnings
before net interest expense, income taxes, depreciation and
amortization, excluding charges and credits ("Adjusted EBITDA"); and net
cash) are non-GAAP financial measures. Management believes that the
exclusion of charges and credits from these financial measures enables
investors and management to more effectively evaluate TechnipFMC's
operations and consolidated results of operations period-over-period,
and to identify operating trends that could otherwise be masked or
misleading to both investors and management by the excluded items. These
measures are also used by management as performance measures in
determining certain incentive compensation. The foregoing non-GAAP
financial measures should be considered by investors in addition to, not
as a substitute for or superior to, other measures of financial
performance prepared in accordance with GAAP. The following is a
reconciliation of the most comparable financial measures under GAAP to
the non-GAAP financial measures.

			Six Months Ended June 30, 2017
			Net income attributable to TechnipFMC plc			Net (income) loss attributable to noncontrolling interests			Provision for income taxes			Net interest expense			Income before net interest expense and income taxes (Operating profit)			Depreciation and amortization			Earnings before net interest expense, income taxes, depreciation and amortization (EBITDA)
TechnipFMC plc. as reported		$	146.2		$	2.4		$	138.0		$	(154.2)		$	436.0		$	310.7		$	746.7
Charges and (credits):
Impairment and other charges			0.3			-			0.5			-			0.8			-			0.8
Restructuring and other severance charges			(1.1)			-			(2.3)			-			(3.4)			-			(3.4)
Business combination transaction and integration costs			54.0			-			24.0			-			78.0			-			78.0
Change in accounting estimate			16.0			-			5.9			-			21.9						21.9
Purchase price accounting adjustments			117.9			-			43.5			0.3			161.1			(83.3)			77.8
Adjusted financial measures		$	333.3		$	2.4		$	209.6		$	(153.9)		$	694.4		$	227.4		$	921.8
			Pro Forma Six Months Ended June 30, 2016
(including legacy FMC Technologies and PPA adjustments)			Net income attributable to TechnipFMC plc			Net (income) loss attributable to noncontrolling interests			Provision for income taxes			Net interest expense			Income before net interest expense and income taxes (Operating profit)			Depreciation and amortization			Earnings before net interest expense, income taxes, depreciation and amortization (EBITDA)
TechnipFMC plc. as pro forma		$	151.8		$	0.4		$	85.9		$	(0.6)		$	237.9		$	322.0		$	559.9
Charges and (credits):
Impairment and other charges			79.5			-			12.5			-			92.0			-			92.0
Restructuring and other severance charges			47.2			-			11.8			-			59.0			-			59.0
Business combination transaction and integration costs			11.1			-			5.6			-			16.7			-			16.7
Purchase price accounting adjustments			117.9			-			43.5			0.3			161.1			(83.3)			77.8
Adjusted financial measures		$	407.5		$	0.4		$	159.3		$	(0.3)		$	566.7		$	238.7		$	805.4

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions except per share amounts)
			(Unaudited)
			Three Months Ended					Six Months Ended
			June 30					June 30
			2017		2016			2017		2016
(after-tax)
Net income attributable to TechnipFMC plc, as reported		$	165	$	104		$	146	$	225
Charges and (credits):
Impairment and other charges (1)			-		22			-		35
Restructuring and other severance charges (2)			(8)		20			(1)		32
Business combination transaction and integration costs (3)			15		11			54		11
Change in accounting estimate (4)			16		-			16		-
Purchase price accounting adjustments (5)			24		-			118		-
Adjusted net income attributable to TechnipFMC plc		$	212	$	157		$	333	$	303
Diluted EPS attributable to TechnipFMC plc,as reported		$	0.35	$	0.83		$	0.31	$	1.81
Adjusted diluted EPS attributable to TechnipFMC plc		$	0.45	$	1.25		$	0.71	$	2.44
(1) Tax effect of nil and $11 million during the three months ended and nil and $17 million during the six months ended June 30. 2017 and 2016, respectively.
(2) Tax effect of $(5) million and $10 million during the three months ended and $(2) million and $15 million during the six months ended June 30. 2017 and 2016, respectively.
(3) Tax effect of $8 million and $6 million during the three months ended and $24 million and $6 million during the six months ended June 30. 2017 and 2016, respectively.
(4) Tax effect of $6 million and nil during the three months ended and $6 million and nil during the six months ended June 30, 2017 and 2016, respectively.
(5) Tax effect of $9 million and nil during the three months ended and $44 million and nil during the six months ended June 30. 2017 and 2016, respectively.

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited)
			Three Months Ended June 30, 2017
			Subsea			Onshore/ Offshore			Surface Technologies			Corporate and Other			Total
Revenue		$	1,730.3		$	1,812.9		$	300.0		$	1.8		$	3 845.0
Operating profit. as reported (pre-tax)		$	236.1		$	204.5		$	(1.0)		$	(122.3)		$	317.3
Charges and (credits):
Impairment and other charges			0.4			-			-			-			0.4
Restructuring and other severance charges			5.6			(27.7)			2.8			6.6			(12.7)
Business combination transaction and integration costs			1.5			-			0.2			21.6			23.3
Change in accounting estimate			11.8			-			10.1			-			21.9
Purchase price accounting adjustments - non-amortization related			(11.6)			-			8.2			(5.0)			(8.4)
Purchase price accounting adjustments - amortization related			38.6			-			2.2			(0.4)			40.4
Subtotal			46.3			(27.7)			23.5			22.8			64.9
Adjusted Operating profit			282.4			176.8			22.5			(99.5)			382.2
Adjusted Depreciation and amortization			94.3			10.9			13.4			0.5			119.1
Adjusted EBITDA		$	376.7		$	187.7		$	35.9		$	(99.0)		$	501.3
Operating profit margin, as reported			13.6%			11.3%			-0.3%						8.3%
Adjusted Operating profit margin			16.3%			9.8%			7.5%						9.9%
Adjusted EBITDA margin			21.8%			10.4%			12.0%						13.0%
			Pro Forma Three Months Ended June 30, 2016
(including legacy FMC Technologies and PPA adjustments)			Subsea			Onshore/ Offshore			Surface Technologies			Corporate and Other			Total
Revenue. as pro forma		$	2,401.8		$	2,261.4		$	303.8		$	(7.7)		$	4 959.3
Operating profit (pre-tax), as pro forma		$	261.7		$	62.5		$	(24.2)		$	(197.3)		$	102.7
Charges and (credits):
Impairment and other charges			2.8			18.6			1.6			15.2			38.2
Restructuring and other severance charges			21.8			10.6			3.9			0.5			36.8
Business combination transaction and integration costs			-			-			-			16.7			16.7
Purchase price accounting adjustments - non-amortization related			(11.6)			-			8.2			(5.0)			(8.4)
Purchase price accounting adjustments - amortization related			38.6			-			2.2			(0.4)			40.4
Subtotal			51.6			29.2			15.9			27.0			123.7
Adjusted Operating profit			313.3			91.7			(8.3)			(170.3)			226.4
Adjusted Depreciation and Amortization			92.1			10.1			17.1			1.8			121.1
Adjusted EBITDA		$	405.4		$	101.8		$	8.8		$	(168.5)		$	347.5
Operating profit margin, as pro forma			10.9%			2.8%			-8.0%						2.1%
Adjusted Operating profit margin			13.0%			4.1%			-2.7%						4.6%
Adjusted EBITDA margin			16.9%			4.5%			2.9%						7.0%

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited)
			Six Months Ended June 30, 2017
			Subsea			Onshore/ Offshore			Surface Technologies			Corporate and Other			Total
Revenue		$	3,107.0		$	3,576.9		$	548.4		$	0.7		$	7 233.0
Operating profit, as reported (pre-tax)		$	290.3		$	347.3		$	(19.6)		$	(182.0)		$	436.0
Charges and (credits):
Impairment and other charges			0.6			-			0.2			-			0.8
Restructuring and other severance charges			12.1			(28.0)			4.0			8.5			(3.4)
Business combination transaction and integration costs			3.0			-			1.0			74.0			78.0
Change in accounting estimate			11.8			-			10.1			-			21.9
Purchase price accounting adjustments - non-amortization related			43.4			-			42.4			(8.0)			77.8
Purchase price accounting adjustments - amortization related			72.6			-			11.2			(0.5)			83.3
Subtotal			143.5			(28.0)			68.9			74.0			258.4
Adjusted Operating profit			433.8			319.3			49.3			(108.0)			694.4
Adjusted Depreciation and amortization			181.5			20.6			22.6			2.7			227.4
Adjusted EBITDA		$	615.3		$	339.9		$	71.9		$	(105.3)		$	921.8
Operating profit margin, as reported			9.3%			9.7%			-3.6%						6.0%
Adjusted Operating profit margin			14.0%			8.9%			9.0%						9.6%
Adjusted EBITDA margin			19.8%			9.5%			13.1%						12.7%
			Pro Forma Six Months Ended June 30, 2016
(including legacy FMC Technologies and PPA adjustments)			Subsea			Onshore/ Offshore			Surface Technologies			Corporate and Other			Total
Revenue. as pro forma		$	4,779.8		$	4,230.3		$	653.4		$	(12.6)		$	9 650.9
Operating profit (pre-tax), as pro forma		$	478.6		$	120.9		$	(99.3)		$	(262.3)		$	237.9
Charges and (credits):
Impairment and other charges			2.9			38.0			35.9			15.2			92.0
Restructuring and other severance charges			22.1			26.6			9.8			0.5			59.0
Business combination transaction and integration costs			-			-			-			16.7			16.7
Purchase price accounting adjustments - non-amortization related			43.4			-			42.4			(8.0)			77.8
Purchase price accounting adjustments - amortization related			72.6			-			11.2			(0.5)			83.3
Subtotal			141.0			64.6			99.3			23.9			328.8
Adjusted Operating profit			619.6			185.5			-			(238.4)			566.7
Adjusted Depreciation and Amortization			181.8			19.2			37.9			(0.2)			238.7
Adjusted EBITDA		$	801.4		$	204.7		$	37.9		$	(238.6)		$	805.4
Operating profit margin, as pro forma			10.0%			2.9%			-15.2%						2.5%
Adjusted Operating profit margin			13.0%			4.4%			0.0%						5.9%
Adjusted EBITDA margin			16.8%			4.8%			5.8%						8.3%

TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited)
			June 30, 2017			December 31, 2016
Cash and cash equivalents		$	7,179.1		$	6,269.3
Short-term debt and current portion of long-term debt			(471.2)			(683.6)
Long-term debt, less current portion			(3,301.3)			(1,869.3)
Net cash		$	3,406.6		$	3,716.4

Net cash (debt) is a non-GAAP financial measure reflecting cash and cash
equivalents, net of debt. Management uses this non-GAAP financial
measure to evaluate TechnipFMC's capital structure and financial
leverage. Management believes net cash (debt) is a meaningful financial
measure that may also assist investors in understanding TechnipFMC's
financial condition and underlying trends in its capital structure.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170726006496/en/

Source: Business Wire
(July 26, 2017 - 9:35 PM EDT)

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