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TechnipFMC reaffirms timeline for separation into two companies

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Hydrocarbon Engineering,

TechnipFMC recently reaffirmed that its planned transaction to separate into two companies, TechnipFMC and Technip Energies, is well on track for completion in 1H20.

The company anticipates completing the transaction in 2Q20 and intends to host a capital markets event in Paris for Technip Energies before the completion of the spin-off.

The company also announced that the EU prospectus for the spin-off of Technip Energies will now include audited IFRS financial statements for Technip Energies for each of the fiscal years ended 31 December 2016 - 2019. In order to provide financial statements for the full year 2019, which will afford greater visibility into recent historical performance, the company anticipates the release of its EU prospectus after its annual filings.

In addition to the approval of the EU prospectus by the Dutch authority for the financial markets (AFM), the successful completion of the planned spin-off also remains subject to general market conditions, regulatory approvals, and final board approval.

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