Company: HLX
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011655
Chunk: 40

Company: HELIX ENERGY SOLUTIONS GROUP INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 40
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 are geographically dispersed throughout the world. There is no other singular company whose service offerings are substantially identical to ours. Certain of our competitors are considerably larger with greater financial and other resources; others are smaller and may be willing to take on additional risks. We compete with drilling rigs for certain work, but we are not a drilling company. Many of our principal competitors are international companies that compensate their executives differently from U.S. companies for a variety of reasons and/or do not disclose the same type of compensation information as U.S. companies do. In sum, we are proud to be a unique provider of offshore solutions, and we work diligently to identify the best possible peer groups of companies against which to compare ourselves. During 2023 the Compensation Committee with guidance from WTW conducted a Benchmarking Peer Group review to identify the most appropriate peer companies for the 2024 compensation decision making process. As part of its process the Compensation Committee reviewed the Company’s then-current benchmarking peers and conducted a screen of U.S. publicly traded companies using several defined criteria, including relevant Global Industry Classification Standard (GICS) codes, revenues and business/product descriptions most closely resembling those of Helix; secondary screening factors included a potential peer’s EBITDA, market capitalization and TSR performance. WTW then utilized a “peers of peers” analysis of those companies with which Helix was most likely competing for executive talent.

| Helix Energy Solutions Group, Inc. |     | 2025 Proxy Statement |     | 41 |

TABLE OF CONTENTS Compensation Discussion and Analysis

Ultimately, the Compensation Committee selected the following peer companies to be utilized as the 2024 Benchmarking Peer Group:

| 2024 Benchmarking Peer Group    |
| Archrock, Inc.                  |
| ChampionX Corporation           |
| Core Laboratories N.V.          |
| Dril-Quip, Inc.                 |
| Expro Group Holdings N.V.       |
| Forum Energy Technologies, Inc. |
| Helmerich & Payne, Inc.         |
| Newpark Resources, Inc.         |
| NexTier Oilfield Solutions Inc. |
| Oceaneering International, Inc. |
| Oil States International, Inc.  |
| ProPetro Holding Corp.          |
| RPC, Inc.                       |
| TETRA Technologies, Inc.        |
| Tidewater Inc.                  |

The companies comprising the 2024 Benchmarking Peer Group were at their time of selection in the view of the Compensation Committee the best and most appropriate companies for benchmark