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Investor Presentation Investor Presentation Investor Presentation Investor Presentation June June 2016 2016

Forward-Looking Statements Statements we make in this presentation that express a belief, expectation, or intention are forward looking. Forward-looking statements are generally accompanied by words such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “plan,” “forecast,” “budget ” “goal ” or other words that convey the uncertainly of future events or outcomes budget, goal, or other words that convey the uncertainly of future events or outcomes. These forward-looking statements are based on our current information and expectations that involve a number of risks, uncertainties, and assumptions. Among the factors that could cause the actual results to differ materially from those indicated in the forward- looking statements are: industry conditions, prices of crude oil and natural gas, our ability looking statements are: industry conditions prices of crude oil and natural gas our ability to obtain and the timing of new projects, and changes in competitive factors. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual outcomes could vary materially from those indicated from those indicated. For additional information regarding these and other factors, see our periodic filings with the Securities and Exchange Commission, including our most recent Reports on Forms 10-K and 10-Q. 2

Why OII?  Global Provider of Diversified Services and Products in All Phases  Global Provider of Diversified Services and Products in All Phases of the Offshore Oilfield Life Cycle of the Offshore Oilfield Life Cycle f h f h Off h Off h Oilfi ld Lif Oilfi ld Lif C C l l  Strong Balance Sheet and Cash Flow  Strong Balance Sheet and Cash Flow  Continue to Maintain or Grow Our Market Positions  Continue to Maintain or Grow Our Market Positions  Return Capital to Our Shareholders  Return Capital to Our Shareholders  Experienced Management Team  Experienced Management Team  Experienced Management Team  Experienced Management Team  Longer Term, Deepwater is Still Critical to Reserve Replenishment  Longer Term, Deepwater is Still Critical to Reserve Replenishment 3

About Oceaneering – Five Operating Segments  ROV  ROV  Subsea Products  Subsea Products  Subsea Projects  Subsea Projects  Asset Integrity  Asset Integrity  Advanced Technologies  Advanced Technologies Ad Ad d T d T h h l l i i 4

About OII – In All Phases of Offshore Oilfield Life Cycle EXPLORATION EXPLORATION DEVELOPMENT DEVELOPMENT PRODUCTION PRODUCTION PHASE PHASE DECOMMISSIONING DECOMMISSIONING 5% % OII Revenue 10% 50% 35% #1 Market # of Operating # Subsea Tree # Subsea Trees # of Field Driver e Floating Drilling Rigs g g g Installations In Service Abandonments Business Segment P Product d t and Service Revenue • ROV ROV • ROV • ROV • ROV • Tooling (SSP) • Tooling (SSP) Streams • Survey (SP) Survey (SP) • Survey (SP) • IWOCS (SSP) • IWOCS (SSP) • Tooling (SSP) Tooling (SSP) • Tooling (SSP) • IWOCS – Installation & IWOCS I t ll ti & • Subsea Hardware (SSP) S b H d (SSP) Workover Control Systems • Vessel-based Inspection, (SSP) Maintenance & Repair Services (SP) • Subsea Hardware (SSP) • Inspection Services (AI) • Umbilicals (SSP) • Vessel-based Installation Services (SP) • Inspection Services (AI) Inspection Ser ices (AI) ROV = Remotely Operated Vehicles SSP = Subsea Products SP = Subsea Projects AI = Asset Integrity 5

Largest Exposure is in Field Development Revenue Mix R Mi 5% 10% 35% 50% Exploration Exploration Development Development Production Production Decommissioning Decommissioning Source: OII Estimates: 2015 6

Revenue by Business Segment 2016 Q1 2014 2015 7% 7% 10% 10% 11% % 24% 27% 14% 29% 12% 12% 16% 20% 21% 32% 32% 31% 34% $3.7 Billion $3.1 Billion $600 Million ROV Subsea Products Subsea Projects Asset Integrity Advanced Technologies 2015 7

24% REMOTELY OPERATED VEHICLES Revenue Contribution Q1 2016 8

Oceaneering ROV Fleet Size 318 ROVs as of March 2016 318 ROV f M h 2016 350 336 318 315 riod End 300 300 Count at Per Vehicle 250 200 2008 2009 2010 2011 2012 2013 2014 2015 2016 Q1 9

Floating Rig Demand History O Oceaneering 57% Market Share as of March 31, 2016 i % M k Sh f M h 31 2016 Floaters Contracted % with OII ROVs 300 100% Period End 250 75% 200 200 s ing Rigs at P with OII ROV 150 50% % w tracted Float 100 25% 50 Cont 0 0% 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1 Source: IHS-Petrodata, March 31, 2016 10

Oceaneering ROV Pricing and Fleet Utilization 6% Fl U ili i f M h 2016 56% Fleet Utilization as of March 2016 Revenue / Day on Hire Fleet Utilization $11,000 100% $10,000 90% $9,000 80% Hire $8,000 70% 70% n ue / Day on H eet Utilizatio $7,000 60% $6,000 50% $5,000 Revenu Fl 40% $4,000 30% $3,000 20% $2 000 $2,000 10% $1,000 $0 0% 2008 2009 2010 2011 2012 2013 2014 2015 2016* * YTD March 2016 11

SUBSEA PRODUCTS 32% Revenue Contribution Q1 2016 Umbilicals Tooling & Subsea Work Systems I Installation and t ll ti d Workover Control Systems Subsea Hardware Subsea Hardware 12

Subsea Products  Required for Every Subsea Completion  Required for Every Subsea Completion  Product Line Categories  Product Line Categories  Service Technology and Rentals – IWOCS and Tooling  Service Technology and Rentals – IWOCS and Tooling Service Technology and Rentals Service Technology and Rentals IWOCS and Tooling IWOCS and Tooling  Subsea Distribution – Umbilicals and  Subsea Distribution – Umbilicals and Field Development Hardware Field Development Hardware  Connections – Grayloc Connectors and Pipeline Repair Systems  Connections – Grayloc Connectors and Pipeline Repair Systems y y p p p p y y  Flow Control Solutions – BOP Control Spares and Rotator Valves  Flow Control Solutions – BOP Control Spares and Rotator Valves  Highly Engineered  Highly Engineered  Highly Engineered  Highly Engineered  Worldwide Coverage  Worldwide Coverage 13

Subsea Installations Forecast Tree Installations SSProducts Revenue 500 $1,500 D in Millions 400 $1,200 ns Revenue, USD e Installation 300 $900 200 00 $600 $600 SSProducts R Tre 100 $300 S 0 $0 2011 2012 2013 2014 2015 2016F 2017F 2018F 2019F 2020F Source: Quest Offshore, May 2016 14

Subsea Hardware Capex Forecast Backlog At Period End B kl A P i d E d Subsea Capex, Quest May 2016 SS Products Backlog $1,000 $9,600 s SD in Million in Millions $8,000 $800 are Capex, US $6,400 $6 400 acklog, USD i $600 $4,800 $400 $400 Products Ba bsea Hardwa $3,200 $200 $1,600 Sub SS $0 $0 2011 2012 2013 2014 2015 2016* 2017F 2018F 2019F 2020F •March 2016 Source: Quest Offshore, May 2016; Capex: hardware costs for subsea trees and control systems, manifolds, and production umbilicals 15

Revenue Contribution 21% Q1 2016 Deepwater SUBSEA PROJECTS Diving 16

Subsea Projects Overview Assets Available for this Market f  GOM Shallow Water Installation and IRM  4 Oceaneering Vessels, Diving Support  3 Saturation Diving Systems  Deepwater Installation and IRM  6 Chartered Vessels, DP  2 Oceaneering Vessels, DP  1 Oceaneering Vessel, DP, delivery at the end of 2016 1 O i V l DP d li t th d f 2016  Global Data Solutions  including AIRSIS, acquired in 2014 i l di AIRSIS i d i 2014  Survey/AUV Services - C&C Technologies  acquired in 2015 i d i 2015 17

Leveraged to Deepwater  Projects Take Years to Develop  Projects Take Years to Develop  Largely Oil Reservoirs  Largely Oil Reservoirs  with High Production Flow Rates  with High Production Flow Rates with High Production Flow Rates with High Production Flow Rates  Well Capitalized Customer Base  Well Capitalized Customer Base  ~50% Revenue from E&P Majors in Prior 3 Years    ~50% Revenue from E&P Majors in Prior 3 Years 50% Revenue from E&P Majors in Prior 3 Years 50% Revenue from E&P Majors in Prior 3 Years  Investment Based on Long-Term Commodity Price  Investment Based on Long-Term Commodity Price 18

Long Term: Offshore is Essential D Deepwater Remains Significant R i Si ifi Incremental Bbls Existing Fields Bbls 90 Source of Source of Additional ~26Mm B/D Crude Production 80 e d Condensate 70 32% MB/D MM 60 60 68% 68% Crude and 50 Offshore Onshore 40 Source: Morgan Stanley Research , Wood Mackenzie, Rystad Energy, and Company Data – March 2016 19

Expect Extended Declines from Producing Fields New Production from New Fields Decline from Aging Fields 4.0 3.5 3.0 Day Barrels Per D 2.5 2.0 Million B 1 5 1.5 1.0 0.5 0.0 2014 2015 2016 2017 2018 Inverting Balance presented by Bloomberg; Source data from Rystad 20