BUSINESS OUTLOOK Overall Outlook - The global economy is expected to show moderate growth in 2026, led by India, China, and the United States. Resilient consumer spending and easing of monetary policy in key regions should be essential drivers of economic growth. Continued investment in artificial intelligence (AI) is expected to provide additional support. Military activity in the Middle East, shifting trade and inflation dynamics, and an uneven global recovery present risk to the growth outlook. Persistent geopolitical conflict underscores the strategic importance of energy security worldwide. The current conflict in the Middle East also demonstrates how quickly regional disruptions in the production and transportation of oil and natural gas can impact the balance of global supply. We believe the significant impacts to both security and energy supply resulting from the conflict are likely to have lasting effects on the perceived risk assigned to the region. Over the last several years, offshore markets have attracted a growing share of global capital flows, driven by much-improved economic returns and broad access to these resources. This increased activity has been supported by an expanding set of offshore development opportunities worldwide. A re-rating of risk in the Middle East would likely build further momentum in this shift in capital flows. We see the greatest potential for an acceleration in deepwater opportunities in markets with extensive infrastructure, including the Gulf of America and the North Sea, and regions with previously discovered and well-identified resources that can add material volumes to an operator’s reserve base, such as West Africa. We also expect an increasing role for technology innovation in the delivery of both conventional and new energy supply. In that context, TechnipFMC is well positioned to translate our technological and operational strength into value for our clients. The long-term outlook for oil and natural gas remains positive. Oil is projected to remain the largest primary energy source, with global demand for natural gas projected to significantly increase, largely due to growth in both electricity demand and industrial activity in developing countries. A significant portion of future gas needs will be sourced from offshore reservoirs, utilizing liquefied natural gas (“LNG”) infrastructure to enable transport from major gas producing regions—including the Middle East, Asia Pacific, and Africa—to a broader set of consuming economies. Renewables investment continues, although at a slower pace than previously forecast. Notably, the International Energy Agency revised its market outlook, projecting that oil demand could grow through 2050—a major shift from its previous view that demand would peak by 2030. Within offshore, we are seeing more clients adopt a portfolio approach to development. Instead of focusing on the next project exclusively, operators are taking a broader portfolio view of their opportunities—executing a vision for their entire asset base. One example of this change is simultaneous development of greenfield assets, where an operator will carry out multiple projects in parallel rather than waiting for completion of the first project to incorporate learnings into subsequent phases. By executing as a single unit, operators benefit from integration and standardization that enable them to reach target production more quickly and economically than would be possible as standalone projects. We also believe that offshore will play a meaningful role in the development of renewable energy resources and the reduction of carbon emissions. Our efforts are focused on greenhouse gas (“GHG”) removal, offshore floating renewables, and hydrogen solutions. We are also building on our partnerships as we look to expand our position as the leading architect for offshore energy. In our New Energy business, we are executing multiple first-of-its-kind project awards, including the Mero 3 HISEP® project for Petrobras offshore Brazil. This project is enabling the capture, processing, and reinjection of CO2-rich dense gases on the seabed to reduce emission intensity while increasing production. In the UK, we are executing the first all-electric, subsea integrated engineering, procurement, construction and installation (“iEPCI®”)for carbon capture and storage for the Northern Endurance Partnership, a joint venture between bp, Equinor, and TotalEnergies. 28 Subsea - Innovative approaches to subsea projects have improved project economics through more efficient design and installation of the entire subsea field architecture. Our integrated commercial model, iEPCI®, brought together the complementary work scopes of the subsea production system (“SPS”) with the subsea umbilicals, risers, and flowlines (“SURF”), and installation vessels. iEPCI® created a new market and helped grow the deepwater opportunity set for our clients. We also foresee the expanding reach of Subsea Services, derived from an aging installed base that continues to grow. As the subsea industry continues to evolve, we are driving simplification, standardization, and industrialization to reduce cycle times and further reduce costs. An example of this is Subsea 2.0®, our pre-engineered configurable product offering. This technology simplifies projects by leveraging a Configure-to-Order (“CTO”) model to further accelerate time to first production while driving greater efficiencies for TechnipFMC. With Subsea 2.0® and CTO, we have designed an architecture, process, tools, and culture that are scalable and transformational to the future of our company. Subsea 2.0® has allowed us to redefine our sourcing strategy and transform our manufacturing flow, resulting in up to 25 percent lower product cost and as much as a 12-month reduction in delivery time for subsea production equipment—savings that are both real and sustainable. This has paved the way for us to adopt a similar operating model for other products within our portfolio, enabling an enterprise-wide way of working. Given these significant improvements, more offshore discoveries can be developed economically below current oil prices. We believe these fundamental changes are sustainable as a result of new business models and technology pioneered by our company—all of which serve as key enablers in our relentless pursuit of the reduction of project cycle time. There is also momentum in new offshore frontiers as nations look to expand economic growth through the development of natural resources. We were awarded an iEPCI® contract for TotalEnergies’ GranMorgu project—the first subsea development in Suriname. In Namibia, there have been multiple discoveries, and operators have initiated appraisal drilling campaigns. We recently announced our participation in Mozambique for Eni’s Coral North project, and we believe that other opportunities in the region will soon follow. We remain confident that further exploration and appraisal activity will result in new projects in other new basins for some time. As we look beyond the current year, we believe that offshore developments will continue to receive an increasing share of capital investment. The change in spending allocation is due in part to the significant improvements made in developing the large, high quality, and prolific reservoirs found offshore. Innovations such as Subsea 2.0® and iEPCI® also help provide customers with greater schedule certainty in project execution. We believe this combination of higher economic returns and greater project certainty will provide sustainability to current activity levels offshore, reinforcing our confidence that activity will remain strong through the end of the decade and beyond. Surface Technologies – North American activity is among the most impacted by commodity prices given the relatively high cost of development in the region. Our surface activities on US land represented less than five percent of total Company revenue in 2025. International markets comprise a significant portion of segment revenue, representing 65 percent in 2025. These markets are less cyclical, as most activities are undertaken by national oil companies with long-term investment horizons and a lower cost of development. This is most evident in the Middle East, where we have made the investment needed to assist our customers in achieving their desired growth in production. TechnipFMC’s unique capabilities in these markets—which demand higher-specification equipment and local presence, including a services footprint—provides a differentiated growth opportunity for our company. 29 CONSOLIDATED RESULTS OF OPERATIONS OF TECHNIPFMC PLC THREE MONTHS ENDED JUNE 30, 2026 AND 2025 Three Months Ended June 30, Change (In millions, except %) 2026 2025 $ % Revenue $ 2,763.1 $ 2,534.7 $ 228.4 9.0 Costs and expenses Cost of sales 2,078.4 1,941.4 137.0 7.1 Selling, general and administrative expense 169.3 173.2 (3.9) (2.3) Research and development expense 25.7 14.1 11.6 82.3 Restructuring, impairment and other expenses 5.0 16.4 (11.4) (69.5) Total costs and expenses 2,278.4 2,145.1 133.3 6.2 Other expense, net (18.7) (10.7) (8.0) (74.8) Income from equity affiliates 13.8 10.3 3.5 34.0 Net interest expense (3.6) (14.4) 10.8 75.0 Income before income taxes 476.2 374.8 101.4 27.1 Provision for income taxes 114.1 106.5 7.6 7.1 Net income 362.1 268.3 93.8 35.0 Net loss attributable to non-controlling interests 0.6 1.2 (0.6) (50.0) Net Income attributable to TechnipFMC plc $ 362.7 $ 269.5 $ 93.2 34.6 Revenue Revenue increased by $228.4 million during the three months ended June 30, 2026, compared to the same period in 2025. The increase was primarily attributable to an increase in Subsea revenue of $270.6 million. This growth was driven by the conversion of backlog, which was 17.4% higher as of December 31, 2025, when compared to December 31, 2024, resulting in increased revenue activity across iEPCI® and SPS supply activities, particularly in Latin America, Asia Pacific, Africa, and the Middle East. This increase was partially offset by lower activity in Europe and North America. Gross Profit Gross profit (revenue less cost of sales) increased to $684.7 million during the three months ended June 30, 2026, compared to $593.3 million in the prior-year period. The increase was primarily attributable to an increase in Subsea gross profit of $104.8 million, of which $62.8 million was due to volume increase and $42.1 million was due to favorable activity mix. Selling, General and Administrative Expense Selling, general and administrative expense was largely unchanged compared to the prior-year period. Restructuring, impairment and other expenses Restructuring, impairment and other expenses decreased by $11.4 million compared to the prior-year period. This decrease was primarily due to business transformation initiatives within Surface Technologies incurred during the three months ended June 30, 2025, and was partially offset by $5.5 million of impairment and restructuring costs in Subsea recognized during the three months ended June 30, 2026. Other Expense, Net Other expense, net increased $8.0 million year-over-year, primarily due to higher foreign currency remeasurement losses, partially offset by lower non-operating charges. Other expense, net primarily includes foreign currency remeasurement gains and losses on net monetary assets and liabilities, gains and losses on sales of property, plant and equipment, and other non-operating items. 30 Net Interest Expense Net interest expense of $3.6 million decreased by $10.8 million in the three months ended June 30, 2026, compared to the same period in 2025, primarily due to the net decrease in outstanding debt year-over-year. Provision for Income Taxes The provision for income taxes for the three months ended June 30, 2026 and 2025 was $114.1 million and $106.5 million, respectively, resulting in effective tax rates of 24.0% and 28.4%, respectively. The decrease in effective tax rate is primarily due to the geographic distribution of earnings. 31 CONSOLIDATED RESULTS OF OPERATIONS OF TECHNIPFMC PLC SIX MONTHS ENDED JUNE 30, 2026 AND 2025 Six Months Ended June 30, Change (In millions, except %) 2026 2025 $ % Revenue $ 5,255.8 $ 4,768.3 $ 487.5 10.2 Costs and expenses Cost of sales 3,985.8 3,710.1 275.7 7.4 Selling, general and administrative expense 385.2 357.4 27.8 7.8 Research and development expense 43.5 33.2 10.3 31.0 Restructuring, impairment and other expenses 5.6 17.6 (12.0) (68.2) Total costs and expenses 4,420.1 4,118.3 301.8 7.3 Other expense, net (12.4) (40.3) 27.9 69.2 Income from equity affiliates 18.3 19.7 (1.4) (7.1) Net interest expense (9.6) (24.3) 14.7 60.5 Income before income taxes 832.0 605.1 226.9 37.5 Provision for income taxes 210.0 193.5 16.5 8.5 Net income 622.0 411.6 210.4 51.1 Net (income) loss attributable to non-controlling interests 1.2 (0.1) 1.3 N/M Net income attributable to TechnipFMC plc $ 623.2 $ 411.5 $ 211.7 51.4 Revenue Revenue increased by $487.5 million during the six months ended June 30, 2026, compared to the prior-year period. The increase was primarily attributable to an increase in Subsea revenue of $542.8 million. This growth was driven by the conversion of backlog, which was 17.4% higher as of December 31, 2025, when compared to December 31, 2024, resulting in increased revenue activity across iEPCI®, SPS supply and services activities, particularly in Latin America, Africa, and the Middle East. This increase was partially offset by lower activity in Europe and North America. Gross Profit Gross profit (revenue less cost of sales) increased to $1,270.0 million during the six months ended June 30, 2026, compared to $1,058.2 million in the prior-year period. The increase was primarily attributable to an increase in Subsea gross profit of $222.7 million, of which $126.0 million was due to volume increase and $96.8 million was due to favorable activity mix. Selling, General and Administrative Expense Selling, general and administrative expense increased by $27.8 million for the six months ended June 30, 2026, compared to the same period in 2025, primarily driven by higher share-based compensation expenses. Restructuring, impairment and other expenses Restructuring, impairment and other expenses decreased by $12.0 million year-over-year, primarily due to $19.0 million of business transformation initiatives within Surface Technologies incurred in the prior-year period, partially offset by $5.6 million of impairment and restructuring costs primarily within Subsea recognized during the six months ended June 30, 2026. Other Income (Expense), Net Other expense, net decreased $27.9 million year-over-year, primarily due to lower other non-operating charges, partially offset by higher foreign currency remeasurement losses. 32 Net Interest Expense Net interest expense of $9.6 million decreased by $14.7 million in the six months ended June 30, 2026, compared to the same period in 2025, primarily due to the reduction in outstanding debt year-over-year. Provision for Income Taxes The provision for income taxes for the six months ended June 30, 2026 and 2025 was $210.0 million and $193.5 million, respectively, resulting in effective tax rates of 25.2% and 32.0%, respectively. The decrease in effective tax rate is primarily due to the geographic distribution of earnings. SEGMENT RESULTS OF OPERATIONS OF TECHNIPFMC PLC THREE MONTHS ENDED JUNE 30, 2026 AND 2025 Subsea Three Months Ended June 30, Change (In millions, except % and pts.) 2026 2025 $ % Revenue $ 2,486.9 $ 2,216.3 $ 270.6 12.2 Operating profit $ 486.5 $ 380.3 $ 106.2 27.9 Operating profit as a percentage of revenue 19.6 % 17.2 % 2.4 pts. Subsea revenue increased by $270.6 million during the three months ended June 30, 2026, compared to the same period in 2025, driven by increased backlog in 2025 related to higher energy demand and upstream spending, further aided by our unique commercial offerings. The increase in revenue was driven by iEPCI® and SPS supply activities, primarily $124.3 million from Latin America, $86.2 million from Asia Pacific, $67.2 million from Africa and $55.6 million from the Middle East. The rest of the world contributed a net decrease of $62.7 million primarily driven by project completions mainly in Europe and North America. Subsea operating profit for the three months ended June 30, 2026 increased by $106.2 million compared to the prior-year period. This was largely due to higher volume, which contributed $62.8 million, and favorable activity mix, which added $42.1 million. Surface Technologies Three Months Ended June 30, Change (In millions, except % and pts.) 2026 2025 $ % Revenue $ 276.2 $ 318.4 $ (42.2) (13.3) Operating profit $ 39.0 $ 23.4 $ 15.6 66.7 Operating profit as a percentage of revenue 14.1 % 7.3 % 6.8 pts. Surface Technologies revenue decreased by $42.2 million during the three months ended June 30, 2026, compared to the same period in 2025. The decrease was primarily attributable to a $40.1 million reduction in the Middle East, reflecting the scheduled timing of project related activity and the impact of regional conflict. Revenue in North America decreased by $4.0 million due to lower drilling activity. These declines were partially offset by increased activity across other international markets. Surface Technologies operating profit for the three months ended June 30, 2026 increased by $15.6 million compared to the prior-year period. The increase was due to the absence of $19.0 million of restructuring and impairment charges incurred in 2025. This benefit was partially offset by $3.4 million of lower activity levels in the Middle East and North America. 33 Corporate Expense Three Months Ended June 30, Change (In millions, except %) 2026 2025 $ % Corporate expense $ (26.4) $ (26.6) $ 0.2 0.8 Corporate expense were substantially unchanged compared to the prior-year period. SEGMENT RESULTS OF OPERATIONS OF TECHNIPFMC PLC SIX MONTHS ENDED JUNE 30, 2026 AND 2025 Subsea Six Months Ended June 30, Change (In millions, except % and pts.) 2026 2025 $ % Revenue $ 4,695.3 $ 4,152.5 $ 542.8 13.1 Operating profit $ 835.5 $ 628.2 $ 207.3 33.0 Operating profit as a percentage of revenue 17.8 % 15.1 % 2.7 pts. Subsea revenue increased by $542.8 million during the six months ended June 30, 2026, compared to the same period in 2025, driven by increased backlog during 2025 related to higher energy demand and upstream spending, further aided by our unique commercial offerings. The increase in revenue was driven by iEPCI®, SPS supply and services activities, primarily $376.9 million from Latin America, $218.0 million from Africa and $82.7 million from the Middle East. The rest of the world contributed a net decrease of $134.8 million primarily driven by project completions mainly in Europe for $67.2 million and North America for $40.5 million. Subsea operating profit for the six months ended June 30, 2026 increased by $207.3 million compared to the prior-year period. This was largely due to higher volume, which contributed $126.0 million, and favorable activity mix, which added $96.8 million. These improvements were partially offset by a $15.5 million increase in operating expense related to higher activity. Surface Technologies Six Months Ended June 30, Change (In millions, except % and pts.) 2026 2025 $ % Revenue $ 560.5 $ 615.8 $ (55.3) (9.0) Operating profit $ 76.1 $ 53.6 $ 22.5 42.0 Operating profit as a percentage of revenue 13.6 % 8.7 % 4.9 pts. Surface Technologies revenue decreased by $55.3 million during the six months ended June 30, 2026, compared to the same period in 2025. The decrease was primarily attributable to $51.8 million reduction in the Middle East, reflecting the scheduled timing of project related activity and the impact of regional conflict. Revenue in North America decreased by $5.4 million due to lower drilling activity. These declines were partially offset by increased activity across other international markets. 34 Surface Technologies operating profit for the six months ended June 30, 2026 increased by $22.5 million, compared to the same period in 2025. This was due to higher activity and favorable mix from international markets which contributed $8.6 million, together with the absence of $19.0 million of business transformation activities incurred in the prior-year period. These favorable impacts were partially offset by a $5.0 million reduction in operating profit due to lower activity levels in the Middle East and North America. Corporate Expense Six Months Ended June 30, Change (In millions, except %) 2026 2025 $ % Corporate expense $ (63.5) $ (52.4) $ (11.1) (21.2) Corporate expense increased by $11.1 million, compared to the prior-year period, primarily driven by an increase in share-based compensation expense recognized during the first quarter of 2026. INBOUND ORDERS AND ORDER BACKLOG Inbound orders - Inbound orders represent the estimated sales value of confirmed customer orders received during the reporting period. Inbound Orders Three Months Ended June 30, Six Months Ended June 30, (In millions) 2026 2025 2026 2025 Subsea $ 2,507.1 $ 2,553.1 $ 4,410.8 $ 5,338.6 Surface Technologies 219.5 277.9 468.2 581.5 Total inbound orders $ 2,726.6 $ 2,831.0 $ 4,879.0 $ 5,920.1 Order backlog - Order backlog is calculated as the estimated sales value of unfilled, confirmed customer orders at the reporting date. Backlog reflects the current expectations of project execution. Order Backlog (In millions) June 30, 2026 December 31, 2025 Subsea $ 15,833.2 $ 15,871.7 Surface Technologies 606.8 699.9 Total order backlog $ 16,440.0 $ 16,571.6 Subsea - Subsea backlog of $15,833.2 million as of June 30, 2026 decreased by $38.5 million compared to December 31, 2025, and was composed of various subsea projects, including TotalEnergies Mozambique LNG and GranMorgu; bp Tiber, Kaskida and NEP; Petrobras Mero 3 HISEP® and Global 24; Shell Orca; Equinor Raia; Vår Energi Ofelia & Gjøa Nord; ENI Coral North; Woodside Great Western Flank Phase 4, and Energean Katlan. Surface Technologies - Order backlog for Surface Technologies as of June 30, 2026 decreased by $93.1 million compared to December 31, 2025. Surface Technologies’ backlog of $606.8 million as of June 30, 2026, was composed primarily of projects for customers in the Middle East, namely ADNOC and Saudi Aramco. The remaining backlog was composed of various projects in the rest of the world. LIQUIDITY AND CAPITAL RESOURCES Most of our cash is managed centrally and flows through bank accounts controlled and maintained by TechnipFMC globally in various jurisdictions to best meet the liquidity needs of our global operations. 35 Net Cash - Net cash is a non-GAAP financial measure reflecting cash and cash equivalents, net of debt. Management uses this non-GAAP financial measure to evaluate our capital structure and financial leverage. We believe net cash is a meaningful financial measure that may assist investors in understanding our financial condition and recognizing underlying trends in our capital structure. Net cash should not be considered an alternative to, or more meaningful than, cash and cash equivalents as determined in accordance with U.S. GAAP or as an indicator of our operating performance or liquidity. The following table provides a reconciliation of our cash and cash equivalents to net cash, utilizing details of classifications from our condensed consolidated balance sheets: (In millions) June 30, 2026 December 31, 2025 Cash and cash equivalents $ 991.8 $ 1,031.9 Short-term debt and current portion of long-term debt (115.3) (34.3) Long-term debt, less current portion (286.6) (395.7) Net cash $ 589.9 $ 601.9 Cash Flows Operating cash flows - Operating activities provided $880.5 million and $785.9 million during the six months ended June 30, 2026 and 2025, respectively. The increase of $94.6 million in cash from operating activities was primarily driven by higher net income and certain working capital timing benefits, partially offset by increases in trade receivables and contract assets and lower contract liability inflows in the six months ended June 30, 2026 compared to the same period in 2025. Investing cash flows - Investing activities required $110.3 million and $140.8 million during the six months ended June 30, 2026 and 2025, respectively. The decrease of $30.5 million in cash used by investing activities was primarily driven by a $29.7 million reduction in capital expenditures in the six months ended June 30, 2026 compared to the same period in 2025. Financing cash flows - Financing activities required $810.0 million and $880.8 million during the six months ended June 30, 2026 and 2025, respectively. The decrease of $70.8 million in cash used by financing activities was primarily driven by a $226.6 million reduction in debt repayments and an increase of $37.9 million from hedging settlements. These decreases were partially offset by increases of $184.7 million in share repurchases and $8.6 million in payments of taxes withheld on share-based compensation in the six months ended June 30, 2026 compared to the same period in 2025. Debt and Liquidity We are committed to maintaining a capital structure that provides sufficient cash resources to support future operating and investment plans. We maintain a level of liquidity sufficient to allow us to meet our cash needs in both the short term and long term. Availability of borrowings under the Revolving Credit Facility is reduced by outstanding commercial paper and letters of credit issued against the facility. As of June 30, 2026, there were no letters of credit or commercial paper outstanding, and our availability under the Revolving Credit Facility was $1,250.0 million. Credit Ratings - On June 9, 2026, Fitch upgraded TechnipFMC, raising its rating to ‘BBB’ from ‘BBB-‘ for both the issuer credit as well as the issuer level ratings on the Company’s senior unsecured notes, while revising the outlook to stable for the issuer-level rating. On the same day, Fitch assigned a rating of ‘F2’ to our short-term debt and commercial paper. On June 22, 2026, S&P upgraded TechnipFMC, raising its rating to 'BBB' from 'BBB-' for both the issuer credit as well as the issue-level ratings on the Company’s senior unsecured notes, while revising the outlook to stable. On the same day, S&P raised its rating to ‘A-2’ from ‘A-3’ for our short-term debt and commercial paper. As of June 30, 2026, TechnipFMC was in compliance with all debt covenants. See Note 10 to our consolidated 36 financial statements for further detail. Dividends - The cash dividends paid during the six months ended June 30, 2026 were $39.7 million. We intend to pay dividends on a quarterly basis, subject to review and approval by our Board of Directors in its sole discretion. On July 28, 2026, the Company announced that its Board of Directors has authorized and declared a quarterly cash dividend of $0.05 per share, payable on September 2, 2026 to shareholders of record as of the close of business on the New York Stock Exchange on August 18, 2026, which is also the ex-dividend date. Share Repurchase - We repurchased $684.9 million of ordinary shares during the six months ended June 30, 2026. Based upon the remaining repurchase authority of $1.5 billion and the closing stock price as of June 30, 2026, approximately 22.5 million ordinary shares could be subject to repurchase. All shares repurchased were cancelled. Credit Risk Analysis For the purposes of mitigating the effect of the changes in exchange rates, we hold derivative financial instruments. Derivative instruments expose the Company to counterparty credit risk. The fair value of derivative assets and liabilities reflects adjustments for nonperformance risk of both counterparties and the Company. These credit‑risk‑related valuation adjustments were not material for any period presented, and the Company is not required to post collateral under its derivative agreements. Management does not believe counterparty credit risk is reasonably likely to have a material impact on liquidity or results of operations. Financial Position Outlook We are committed to a strong balance sheet. We continue to maintain sufficient liquidity to support the needs of the business through growth, cyclicality, and unforeseen events. We continue to maintain and drive sustainable leverage to preserve access to capital throughout the cycle. Our capital expenditures can be adjusted and managed to match market demand and activity levels. Projected capital expenditures do not include any contingent capital that may be needed to respond to contract awards. In maintaining our commitment to sustainable leverage and liquidity, we expect to be able to continue to generate cash flow available for investment in growth and distribution to shareholders through the business cycle. CRITICAL ACCOUNTING ESTIMATES Refer to our Annual Report on Form 10-K for the year ended December 31, 2025 for a discussion of our critical accounting estimates. During the six months ended June 30, 2026, there were no changes to our identified critical accounting estimates.