Oceaneering Announces Release of 2023 Task Force on Climate-Related Financial Disclosures Report

Oceaneering International, Inc. (Oceaneering) (NYSE:OII) today announced that it has released its 2023 Task Force on Climate-Related Financial Disclosures (TCFD) Report. The updated report aligns with the framework developed by the Task Force on Climate-Related Financial Disclosures and includes analysis and progress updates across each of the four TCFD pillars: Governance, Strategy, Risk Management, and Metrics and Targets.

Oceaneering's 2023 TCFD Report outlines the company's continued commitment to managing the risks and opportunities from climate change and establishes 2030 emission reduction targets against a 2022 baseline. The 2023 report also contains the company's 2022 Scope 1 and Scope 2 greenhouse gas (GHG) emissions data, which are scheduled to be updated annually. The report can be found under the Sustainability tab on Oceaneering's website: https://www.oceaneering.com/sustainability/.

Roderick A. Larson, President and Chief Executive Officer of Oceaneering, stated, "As members of a global community, we all have an obligation to take meaningful action to create the best planet, for the most people, for the longest period of time. At Oceaneering, we are proud to support our customers in their decarbonization initiatives while also focusing on reducing our own GHG emissions. Our 2022 initiative to baseline our Scope 1 and Scope 2 GHG emissions led to establishing targets for emission reduction that will enable us to not only support our customers' Scope 3 emissions reduction goals, but also take intentional, data-driven actions to lower our own emissions. As a customer-focused company, we look forward to helping our customers face the challenge of meeting energy demand while stemming climate change. We are committed to transparency around our actions as the world undertakes this energy transition."

Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries.