HOUSTON, March 12, 2026 — Global energy technology company SLB (NYSE: SLB) announced today that its OneSubsea™ joint venture has entered into an agreement to acquire the subsea business of Norway-based Envirex Group AS. As a result of the transaction, Envirex Group AS and their subsea business would become part of SLB OneSubsea.

The proposed acquisition would bring the specialized technologies and R&D strengths of Envirex Group AS into SLB OneSubsea's global technology portfolio. The transaction is expected to accelerate the deployment of new technology solutions, while expanding the range of innovative services available to customers worldwide at a time when demand for efficient, next-generation subsea solutions continues to grow.

"This agreement represents a natural next step in a collaboration that has developed over more than a decade,” said Mads Hjelmeland, chief executive officer of SLB OneSubsea. “Once completed, the transaction would strengthen our technology portfolio and enhance the value we deliver to our customers."

The transaction is expected to close in the first half of 2026, subject to regulatory approvals and other customary closing conditions.

Key points

• SLB OneSubsea has entered into an agreement to acquire the subsea business of Envirex Group AS. As a result of the transaction, Envirex Group AS and their subsea business would become part of SLB OneSubsea.
• The proposed transaction is expected to accelerate the deployment of new subsea solutions
• The transaction is expected to close in the first half of 2026, subject to regulatory approvals and other customary closing conditions

About SLB

SLB (NYSE: SLB) is a global technology company that has driven energy innovation for 100 years. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

About SLB OneSubsea

SLB OneSubsea is driving a new subsea era leveraging digital and technology innovation to optimize our customers’ oil and gas production, reduce emissions in subsea operations, and unlock the large potential of subsea solutions to shape a sustainable energy future. SLB OneSubsea is a joint venture backed by SLB, Aker Solutions, and Subsea7 headquartered in Oslo and Houston, with 10,000 employees across the world. Find out more at onesubsea.slb.com.

Media

Josh Byerly – SVP of Communications
Moira Duff – Director of External Communications
SLB
Tel: +1 (713) 375-3407
Email: media@slb.com

Investors

James R. McDonald – SVP of Investor Relations & Industry Affairs
Joy V. Domingo – Director of Investor Relations
SLB
Tel: +1 (713) 375-3535
Email: investor-relations@slb.com

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