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 * SHV announces plan to divest Mammoet to support the company in executing its
   growth strategy

All news and insights


SHV ANNOUNCES PLAN TO DIVEST MAMMOET TO SUPPORT THE COMPANY IN EXECUTING ITS
GROWTH STRATEGY



LOCATION:

 * Netherlands

SHV has decided to explore a potential divestment of Mammoet. This is the result
of the regular strategy update process where the parent company reviews the
composition of SHV overall. SHV concluded that supporting all eight groups
simultaneously in realizing their full potential and ambitions is not the best
way forward.

Mammoet has proven to be a strong and successful company. To allow Mammoet to
continue its growth strategy, SHV is devoted to find a new owner that is
committed to make the required investments, employ Mammoet’s people to their
full potential and foster the strong entrepreneurial spirit that so much defines
the global leader in heavy lifting and transport. In the coming years, the
company intends to invest in high-capacity equipment that will be put to work in
support of the global energy transition, in particular offshore wind.

 * Mammoet is a successful company with strong sales growth and increased
   profitability.
 * SHV is devoted to find a new owner that is committed to invest in Mammoet’s
   growth, employ its people to their full potential and foster their
   entrepreneurial spirit.
 * Mammoet is ideally positioned to fully benefit from the energy transition.
 * Mammoet intends to invest in high-capacity equipment for the renewable energy
   market.

Jeroen Drost, CEO of SHV: “It has become clear that offering support in the best
possible way to eight groups cannot be done in the way we would like to. That
does not mean the decision to potentially divest Mammoet has been taken lightly.
They have been a valued member of the SHV Family for many years and it is with
regret that we have to let them go. What is now most important for SHV is to
make sure we find a new owner that is committed in supporting Mammoet and our
colleagues in this next step. We all strongly feel this obligation and will be
part of every decision in the process.”


READY FOR A NEW CHAPTER IN MAMMOET HISTORY

The name of Mammoet stands for safety, quality and reliability. Mammoet, under a
new owner, will have the opportunity to reach new heights on the back of the
rapid growth of the renewable energy sector and the fast-paced transition in
industries and societies. With its large fleet of high-capacity equipment, the
company is ideally positioned to fully benefit from these new developments, as
well as from the continuing stream of work in traditional markets.

Paul van Gelder, CEO of Mammoet: “As the global market leader we have
demonstrated to be flexible. We’ve made a shift from an oil and gas dominated
order book to a diversified revenue coming from multiple sectors like nuclear,
infrastructure and renewable energy. This diversification and several
improvement programs have resulted in strong sales growth and increased
profitability over the last five years. SHV has been a great owner of Mammoet
and helped us in realizing our strategic goals. I’m convinced that we will be
able to continue delivering outstanding results under a new owner, backing up
our strategy to create a sustainable future for our company and planet".


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