# EDGAR Filing Document

**Accession Number:** 0001690334
**File Stem:** 0001193125-26-072103
**Filing Date:** 2026-2
**Character Count:** 78952
**Document Hash:** e8474b1dde50bb359accf0fc1bc02f60
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-072103.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0001193125-26-072103

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 41

**CONFORMED PERIOD OF REPORT**: 20260225

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SEACOR Marine Holdings Inc.
- **CENTRAL INDEX KEY:** 0001690334
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 472564547
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37966
- **FILM NUMBER:** 26680180

**BUSINESS ADDRESS:**
- **STREET 1:** 12121 WICKCHESTER LANE
- **STREET 2:** SUITE 500
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77079
- **BUSINESS PHONE:** 9858765400

**MAIL ADDRESS:**
- **STREET 1:** 12121 WICKCHESTER LANE
- **STREET 2:** SUITE 500
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77079

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM** 8-K

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): February 25, 2026

SEACOR Marine Holdings Inc. <br> (Exact Name of Registrant as Specified in Its Charter)

Delaware 001-37966 47-2564547 <br> (State or Other Jurisdictionof Incorporation) (CommissionFile Number) (IRS EmployerIdentification No.)

---

| | |
|:---|:---|
| 12121 Wickchester Lane**,** Suite 500**,** Houston**,** TX | 77079 |
| (Address of Principal Executive Offices) | (Zip Code) |
| Registrant's telephone number, including area code | (346) 980-1700 |

---

**Not Applicable**

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**<u>Title of each class</u>** | &nbsp;&nbsp;**<u>Trading Symbol(s)</u>** | &nbsp;&nbsp;**<u>Name of each exchange on which registered</u>** |
| &nbsp;&nbsp;Common stock, par value $0.01 per share | &nbsp;&nbsp;SMHI | &nbsp;&nbsp;New York Stock Exchange ("NYSE")<br>|

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 2.02 Results of Operations and Financial Condition.**

The information set forth in (and incorporated by reference into) this Item 2.02 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that Section. The information set forth in (and incorporated by reference into) this Item 2.02 shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

On February 25, 2026, SEACOR Marine Holdings Inc. (the "Company") issued a press release setting forth its earnings for the three and twelve months ended December 31, 2025 (the "Earnings Release").

A copy of the Earnings Release is attached hereto as Exhibit 99.1 and hereby incorporated by reference.

**Item 7.01 Regulation FD Disclosure.**

The information set forth in (and incorporated by reference into) this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that Section. The information set forth in (and incorporated by reference into) this Item 7.01 shall not be incorporated by reference into any filing under the Securities Act, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

On February 25, 2026, the Company posted an investor presentation to its website at https://ir.seacormarine.com/events-and-presentations. A copy of the investor presentation is attached hereto as Exhibit 99.2 and hereby incorporated by reference.

**Item 8.01 Other Events.**

The board of directors of the Company has established June 2, 2026 as the date of the Company's 2026 Annual Meeting of Stockholders (the "2026 Annual Meeting"). The record date for the 2026 Annual Meeting will be April 13, 2026. The time and location of the 2026 Annual Meeting will be specified in the Company's proxy statement for the 2026 Annual Meeting.

**Item 9.01 Financial Statements and Exhibits**

(d) Exhibits

---

| | |
|:---|:---|
| Exhibit No. | Description |
| 99.1 | [<u>Press Release of SEACOR Marine Holdings Inc. dated February 25, 2026</u>](smhi-ex99_1.htm) |
| 99.2 | [<u>SEACOR Marine Holdings Inc. Investor Presentation, dated February 25, 2026</u>](smhi-ex99_2.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | SEACOR Marine Holdings Inc. | SEACOR Marine Holdings Inc. |
| February 25, 2026 | By: | */s/ John Gellert* |
|  |  | Name: John Gellert |
|  |  | Title: President and Chief Executive Officer |

---

------

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| ![img10727850_0.jpg](img10727850_0.jpg) | **PRESS RELEASE** |

---

**SEACOR MARINE ANNOUNCES FOURTH QUARTER 2025 RESULTS** 

Houston, Texas

February 25, 2026

**FOR IMMEDIATE RELEASE -** SEACOR Marine Holdings Inc. (NYSE: SMHI) (the "Company" or "SEACOR Marine"), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today announced results for its fourth quarter ended December 31, 2025.

SEACOR Marine's consolidated operating revenues for the fourth quarter of 2025 were $52.3 million, operating loss was $5.2 million, and direct vessel profit ("DVP")<sup>(1)</sup> was $9.7 million. This compares to consolidated operating revenues of $69.8 million, operating income of $10.6 million, and DVP of $23.1 million in the fourth quarter of 2024, and consolidated operating revenues of $59.2 million, operating income of $18.1 million, and DVP of $11.5 million in the third quarter of 2025.

Notable fourth quarter items include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•25.0% decrease in revenues from the fourth quarter of 2024 and a 11.6% decrease from the third quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Average day rates of $17,519, a 7.3% decrease from the fourth quarter of 2024, and a 10.1% decrease from the third quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•69% utilization, a decrease from 72% in the fourth quarter of 2024 and an increase from 66% in the third quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•DVP margin of 18.5%, a decrease from 33.1% in the fourth quarter of 2024 and a decrease from 19.4% in the third quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•During the fourth quarter of 2025, the Company completed the sale of a 201' platform supply vessel ("PSV") built in 2013 for total proceeds of $13.4 million and a gain of $8.1 million.

For the fourth quarter of 2025, net loss was $14.6 million ($0.57 loss per basic and diluted share). This compares to a net loss for the fourth quarter of 2024 of $26.2 million ($0.94 loss per basic and diluted share). Sequentially, the fourth quarter 2025 results compare to a net income of $9.0 million ($0.35 earnings per basic and diluted share) in the third quarter of 2025.

Chief Executive Officer John Gellert commented:

"The fourth quarter results reflect lower revenues driven primarily by (a) fewer available days following the sales of two 335' liftboats at the end of the third quarter of 2025 and one of our 201' PSVs during the fourth quarter of 2025 and (b) lower utilization for our liftboat fleet due to seasonality and changes in scope of work by one of our international liftboat customers.

Average rates for fast supply vessels ("FSVs") and PSVs held relatively steady during the quarter, with markedly improved utilization for FSVs as we continued to successfully redeploy FSVs previously laid up in the United States to international markets. The PSV fleet saw continued improvement in DVP margins to 25.5%, despite two vessels repositioning for new contracts in Brazil commencing in Q1 2026 and soft market conditions in the North Sea.

Following the end of the fourth quarter, our two premium liftboats in the Middle East concluded their contracts and were repositioned to undergo scheduled maintenance and drydocking as well as previously deferred repairs. We do not expect these liftboats to work during the first quarter of 2026. I would note that these liftboats are charter free for the first time since the COVID pandemic. This presents us with strategic optionality and we are currently evaluating several opportunities for these liftboats.

Subsequent to the end of the fourth quarter, we fixed our two PSVs in the North Sea for a multi-month seismic survey campaign, which will leave our large PSV fleet in sold out status for the first time since they delivered approximately five years ago. Our contracted revenue backlog at year-end 2025 stood in excess of $500.0 million, including options; a highwater mark for us.

------

As I mentioned in my remarks to our third quarter 2025 earnings release, we have streamlined our cost structure to reflect some of the recent asset sales, most notably the sale of the two 335' liftboats. During the fourth quarter of 2025 we incurred one-time charges of $1.2 million related to severance expenses and expect annualized savings of $3.9 million in SG&A expenses from these initiatives.

We are looking forward to the delivery of the first of two newbuild PSVs during the fourth quarter of 2026, with the second PSV to follow in the first quarter of 2027. Our construction program at this point is fully funded from proceeds from assets sales recently concluded or contracted, as reflected in our assets held for sale. As we continue to implement our asset rotation strategy, I expect that we will have opportunities to reduce our leverage meaningfully.

Our core markets outside the United States remain constructive over the long term, with increasing optimism around a number of drilling campaigns starting in the second half of 2026. An improving geopolitical outlook in certain markets could further improve demand for offshore services and we will evaluate those opportunities as they arise."

___________________

(1) Direct vessel profit (defined as operating revenues less operating costs and expenses, "DVP") is the Company's measure of segment profitability. DVP is a critical financial measure used by the Company to analyze and compare the operating performance of its regions, without regard to financing decisions (depreciation and interest expense for owned vessels vs. lease expense for lease vessels). DVP is also useful when comparing the Company's global fleet performance against those of our competitors who may have differing fleet financing structures. DVP has material limitations as an analytical tool in that it does not reflect all of the costs associated with the ownership and operation of our fleet, and it should not be considered in isolation or used as a substitute for our results as reported under GAAP. See page 4 for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure.

\* \* \* \* \*

SEACOR Marine provides global marine and support transportation services to offshore energy facilities worldwide. SEACOR Marine operates and manages a diverse fleet of offshore support vessels that deliver cargo and personnel to offshore installations, including offshore wind farms; assist offshore operations for production and storage facilities; provide construction, well work-over, offshore wind farm installation and decommissioning support; and carry and launch equipment used underwater in drilling and well installation, maintenance, inspection and repair. Additionally, SEACOR Marine's vessels provide emergency response services and accommodations for technicians and specialists.

*Certain statements discussed in this release as well as in other reports, materials and oral statements that the Company releases from time to time to the public constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as "anticipate," "estimate," "expect," "project," "intend," "believe," "plan," "target," "forecast" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern management's expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or expected by the management of the Company. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties and other important factors, many of which are beyond the Company's control and are described in the Company's filings with the SEC. It should be understood that it is not possible to predict or identify all such factors. Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. It is advisable, however, to consult any further disclosures the Company makes on related subjects in its filings with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (if any). These statements constitute the Company's cautionary statements under the Private Securities Litigation Reform Act of 1995.*

Please visit SEACOR Marine's website at www.seacormarine.com for additional information.

For all other requests, contact <u>InvestorRelations@seacormarine.com</u>

------

**SEACOR MARINE HOLDINGS INC.**

**UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)**

**(in thousands, except share data)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Operating Revenues | $52329 | $69808 | $227832 | $271361 |
| Costs and Expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating | 42667 | 46726 | 181772 | 197252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Administrative and general | 12730 | 10888 | 47483 | 44713 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease expense | 261 | 347 | 1203 | 1678 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 10045 | 12879 | 47070 | 51628 |
|  | 65703 | 70840 | 277528 | 295271 |
| Gains on Asset Dispositions and Impairments, Net | 8210 | 11624 | 63412 | 13481 |
| Operating (Loss) Income | (5164) | 10592 | 13716 | (10429) |
| Other Income (Expense): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | 751 | 372 | 1856 | 1768 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (8673) | (10001) | (36050) | (40627) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on debt extinguishment |  | (31923) |  | (31923) |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative (losses) gains, net | (73) | (536) | 156 | (908) |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign currency (losses) gains, net | (38) | 1308 | (3135) | (1049) |
| &nbsp;&nbsp;&nbsp;&nbsp;Gains on insurance claim settlement |  |  | 4581 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other, net | 32 | 187 | (189) | 121 |
|  | (8001) | (40593) | (32781) | (72618) |
| Loss Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies | (13165) | (30001) | (19065) | (83047) |
| Income Tax Expense (Benefit) | 1688 | (2345) | 10510 | (2615) |
| Loss Before Equity in Earnings of 50% or Less Owned Companies | (14853) | (27656) | (29575) | (80432) |
| Equity in Earnings of 50% or Less Owned Companies | 231 | 1430 | 1731 | 2308 |
| Net Loss | $(14622) | $(26226) | $(27844) | $(78124) |
| Net Loss Per Share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $(0.57) | $(0.94) | $(1.06) | $(2.82) |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $(0.57) | $(0.94) | $(1.06) | $(2.82) |
| Weighted Average Common Stock and Warrants Outstanding: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 25670757 | 27773200 | 26223155 | 27655289 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 25670757 | 27773200 | 26223155 | 27655289 |

---

------

**SEACOR MARINE HOLDINGS INC.**

**UNAUDITED CONSOLIDATED STATEMENTS OF INCOME (LOSS)**

 **(in thousands, except statistics and per share data)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** | **Dec. 31, 2024** |
| Time Charter Statistics: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average Rates Per Day | $17519 | $19490 | $19731 | $18825 | $18901 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet Utilization | 69% | 66% | 68% | 60% | 72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet Available Days <sup>(2)</sup> | 4127 | 4321 | 4310 | 4583 | 4870 |
| Operating Revenues: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Time charter | $49817 | $55958 | $57673 | $51933 | $66095 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bareboat charter | 843 | 846 | 838 | 708 | 364 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other marine services | 1669 | 2390 | 2299 | 2858 | 3349 |
|  | 52329 | 59194 | 60810 | 55499 | 69808 |
| Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel | 16539 | 17616 | 18969 | 18537 | 20365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repairs and maintenance | 11752 | 14603 | 13648 | 8520 | 10433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Drydocking | 1175 | 2430 | 5143 | 3869 | 2467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and loss reserves | 1570 | 1948 | 2982 | 2153 | 2473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuel, lubes and supplies | 4601 | 4465 | 4296 | 4546 | 4884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 7030 | 6622 | 4455 | 4303 | 6104 |
|  | 42667 | 47684 | 49493 | 41928 | 46726 |
| Direct Vessel Profit <sup>(1)</sup> | 9662 | 11510 | 11317 | 13571 | 23082 |
| Other Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease expense | 261 | 280 | 325 | 337 | 347 |
| &nbsp;&nbsp;&nbsp;&nbsp;Administrative and general | 12730 | 11269 | 11998 | 11486 | 10888 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 10045 | 12125 | 12090 | 12810 | 12879 |
|  | 23036 | 23674 | 24413 | 24633 | 24114 |
| Gains on Asset Dispositions and Impairments, Net | 8210 | 30230 | 19163 | 5809 | 11624 |
| Operating (Loss) Income | (5164) | 18066 | 6067 | (5253) | 10592 |
| Other Income (Expense): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | 751 | 297 | 372 | 436 | 372 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (8673) | (8947) | (8844) | (9586) | (10001) |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative (losses) gains, net | (73) | 17 | 87 | 125 | (536) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on debt extinguishment |  |  |  |  | (31923) |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign currency (losses) gains, net | (38) | 218 | (2119) | (1196) | 1308 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gains on insurance claim settlement |  | 4581 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other, net | 32 | (221) |  |  | 187 |
|  | (8001) | (4055) | (10504) | (10221) | (40593) |
| (Loss) Income Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies | (13165) | 14011 | (4437) | (15474) | (30001) |
| Income Tax Expense (Benefit) | 1688 | 5410 | 2508 | 904 | (2345) |
| (Loss) Income Before Equity in Earnings of 50% or Less Owned Companies | (14853) | 8601 | (6945) | (16378) | (27656) |
| Equity in Earnings of 50% or Less Owned Companies | 231 | 393 | 218 | 889 | 1430 |
| Net (Loss) Income | $(14622) | $8994 | $(6727) | $(15489) | $(26226) |
| Net (Loss) Earnings Per Share: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $(0.57) | $0.35 | $(0.26) | $(0.56) | $(0.94) |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $(0.57) | $0.35 | $(0.26) | $(0.56) | $(0.94) |
| Weighted Average Common Stock and Warrants Outstanding: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 25671 | 25658 | 25687 | 27908 | 27773 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 25671 | 25888 | 25687 | 27908 | 27773 |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Shares and Warrants Outstanding at Period End | 26952 | 26976 | 26976 | 29488 | 28950 |

---

------

(1)See full description of footnote above.

(2)Includes available days for a bareboat charter for one PSV, which has been excluded from days worked and average day rates.

------

**SEACOR MARINE HOLDINGS INC.**

**UNAUDITED DIRECT VESSEL PROFIT ("DVP") BY SEGMENT**

**(in thousands, except statistics)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** | **Dec. 31, 2024** |
| ***United States, primarily Gulf of America*** |  |  |  |  |  |
| Time Charter Statistics: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average rates per day worked | $15350 | $20419 | $25262 | $23874 | $26116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet utilization | 40% | 53% | 48% | 25% | 45% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet available days | 705 | 926 | 1007 | 1121 | 920 |
| &nbsp;&nbsp;&nbsp;&nbsp;Out-of-service days for repairs, maintenance and drydockings | 127 | 191 | 144 | 153 | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;Out-of-service days for cold-stacked status <sup>(2)</sup> | 92 | 116 | 270 | 173 | 184 |
| Operating Revenues: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Time charter | $4377 | $10024 | $12205 | $6765 | $10744 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other marine services | 437 | 1108 | 1175 | 235 | 1114 |
|  | 4814 | 11132 | 13380 | 7000 | 11858 |
| Direct Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel | 3844 | 5815 | 6854 | 6486 | 6097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repairs and maintenance | 423 | 1309 | 1950 | 1479 | 1680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Drydocking | (98) | 1079 | 3684 | 1066 | 1451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and loss reserves | 267 | 816 | 1067 | 702 | 854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuel, lubes and supplies | 460 | 700 | 1010 | 819 | 854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 206 | 118 | 631 | 349 | 229 |
|  | 5102 | 9837 | 15196 | 10901 | 11165 |
| Direct Vessel (Loss) Profit <sup>(1)</sup> | $(288) | $1295 | $(1816) | $(3901) | $693 |
| Other Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease expense | $129 | $148 | $139 | $136 | $136 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 1579 | 3106 | 3203 | 3705 | 3196 |
| ***Africa and Europe*** |  |  |  |  |  |
| Time Charter Statistics: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average rates per day worked | $17095 | $17983 | $19140 | $17294 | $16895 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet utilization | 84% | 75% | 77% | 70% | 73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet available days | 1559 | 1656 | 1668 | 1710 | 1856 |
| &nbsp;&nbsp;&nbsp;&nbsp;Out-of-service days for repairs, maintenance and drydockings | 144 | 229 | 248 | 382 | 180 |
| Operating Revenues: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Time charter | $22317 | $22357 | $24535 | $20835 | $22999 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other marine services | 580 | 733 | 806 | 852 | 1027 |
|  | 22897 | 23090 | 25341 | 21687 | 24026 |
| Direct Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel | 4656 | 4465 | 5515 | 5183 | 5654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repairs and maintenance | 4694 | 6531 | 4646 | 3462 | 3712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Drydocking | 987 | 1413 | 901 | 1241 | 835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and loss reserves | 481 | 326 | 899 | 594 | 577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuel, lubes and supplies | 1292 | 1781 | 1714 | 2180 | 2226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 2558 | 3573 | 2357 | 2727 | 3748 |
|  | 14668 | 18089 | 16032 | 15387 | 16752 |
| Direct Vessel Profit <sup>(1)</sup> | $8229 | $5001 | $9309 | $6300 | $7274 |
| Other Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease expense | $8 | $8 | $51 | $63 | $82 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 3968 | 4302 | 4263 | 4402 | 4477 |

---

------

(1)See full description of footnote above.

(2)Includes one FSV cold-stacked in this region as of December 31, 2025.

------

**SEACOR MARINE HOLDINGS INC.**

 **UNAUDITED DIRECT VESSEL PROFIT ("DVP") BY SEGMENT (continued)**

**(in thousands, except statistics)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** | **Dec. 31, 2024** |
| ***Middle East and Asia*** |  |  |  |  |  |
| Time Charter Statistics: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average rates per day worked | $17587 | $17818 | $15506 | $17848 | $17337 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet utilization | 73% | 64% | 73% | 75% | 88% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet available days | 1091 | 1104 | 1089 | 1170 | 1266 |
| &nbsp;&nbsp;&nbsp;&nbsp;Out-of-service days for repairs, maintenance and drydockings | 72 | 157 | 204 | 82 | 30 |
| Operating Revenues: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Time charter | $13940 | $12606 | $12365 | $15710 | $19385 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other marine services | 570 | 319 | 432 | 292 | 635 |
|  | 14510 | 12925 | 12797 | 16002 | 20020 |
| Direct Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel | 4768 | 4956 | 4511 | 4927 | 5470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repairs and maintenance | 5103 | 5798 | 6338 | 2505 | 3574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Drydocking | 290 | (1) | 13 | 1031 | (226) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and loss reserves | 624 | 611 | 842 | 702 | 804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuel, lubes and supplies | 1691 | 1241 | 1279 | 883 | 840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 1376 | 1167 | 1104 | 881 | 1305 |
|  | 13852 | 13772 | 14087 | 10929 | 11767 |
| Direct Vessel Profit (Loss) <sup>(1)</sup> | $658 | $(847) | $(1290) | $5073 | $8253 |
| Other Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease expense | $68 | $70 | $72 | $83 | $72 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 3160 | 3231 | 3227 | 3230 | 3272 |
| ***Latin America*** |  |  |  |  |  |
| Time Charter Statistics: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average rates per day worked | $19946 | $25541 | $23764 | $22084 | $21390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet utilization | 60% | 68% | 66% | 67% | 73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet available days <sup>(2)</sup> | 772 | 635 | 546 | 582 | 828 |
| &nbsp;&nbsp;&nbsp;&nbsp;Out-of-service days for repairs, maintenance and drydockings |  | 7 | 26 |  | 20 |
| Operating Revenues: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Time charter | $9183 | $10971 | $8568 | $8623 | $12967 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bareboat charter | 843 | 846 | 838 | 708 | 364 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other marine services | 82 | 230 | (114) | 1479 | 573 |
|  | 10108 | 12047 | 9292 | 10810 | 13904 |
| Direct Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel | 3271 | 2380 | 2089 | 1941 | 3144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repairs and maintenance | 1532 | 965 | 714 | 1074 | 1467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Drydocking | (4) | (61) | 545 | 531 | 407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and loss reserves | 198 | 195 | 174 | 155 | 238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuel, lubes and supplies | 1158 | 743 | 293 | 664 | 964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 2890 | 1764 | 363 | 346 | 822 |
|  | 9045 | 5986 | 4178 | 4711 | 7042 |
| Direct Vessel Profit <sup>(1)</sup> | $1063 | $6061 | $5114 | $6099 | $6862 |
| Other Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease expense | $56 | $54 | $63 | $55 | $57 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 1338 | 1486 | 1397 | 1473 | 1934 |

---

------

(1)See full description of footnote above.

(2)Includes available days for a bareboat charter for one PSV, which has been excluded from days worked and average day rates.

------

**SEACOR MARINE HOLDINGS INC.**

**UNAUDITED PERFORMANCE BY VESSEL CLASS**

**(in thousands, except statistics)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** | **Dec. 31, 2024** |
| ***AHTS*** |  |  |  |  |  |
| Time Charter Statistics: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average rates per day worked | $— | $— | $— | $— | $10410 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet utilization | —% | —% | —% | —% | 79% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet available days |  |  |  |  | 178 |
| &nbsp;&nbsp;&nbsp;&nbsp;Out-of-service days for repairs, maintenance and drydockings |  |  |  |  | 28 |
| Operating Revenues: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Time charter | $— | $— | $(22) | $15 | $1465 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other marine services |  | (7) | (9) | 9 |  |
|  |  | (7) | (31) | 24 | 1465 |
| Direct Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel | $12 | $11 | $9 | $1 | $595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repairs and maintenance |  | (24) | 255 | 38 | 128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Drydocking |  |  |  |  | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and loss reserves |  |  | (4) |  | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuel, lubes and supplies | 1 | 3 | (125) | 66 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 9 | 18 | (4) | 12 | 210 |
|  | 22 | 8 | 131 | 117 | 1012 |
| Other Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease expense | $— | $— | $— | $— | $7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 4 | 4 | 3 | 4 | 122 |
| ***FSV*** |  |  |  |  |  |
| Time Charter Statistics: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average rates per day worked | $14114 | $14007 | $13468 | $13786 | $13643 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet utilization | 75% | 71% | 67% | 71% | 72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet available days | 1932 | 1932 | 1935 | 1980 | 2024 |
| &nbsp;&nbsp;&nbsp;&nbsp;Out-of-service days for repairs, maintenance and drydockings | 209 | 236 | 181 | 135 | 118 |
| &nbsp;&nbsp;&nbsp;&nbsp;Out-of-service days for cold-stacked status | 92 | 116 | 270 | 90 | 92 |
| Operating Revenues: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Time charter | $20546 | $19131 | $17573 | $19357 | $19992 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other marine services | 492 | 566 | 516 | 762 | 416 |
|  | 21038 | 19697 | 18089 | 20119 | 20408 |
| Direct Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel | $4980 | $4502 | $4526 | $4933 | $5078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repairs and maintenance | 5862 | 6041 | 3542 | 2983 | 4480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Drydocking | 1098 | 678 | 666 | 353 | 426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and loss reserves | 509 | 270 | 683 | 517 | 422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuel, lubes and supplies | 1850 | 1480 | 1449 | 1173 | 1586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 2147 | 2889 | 1428 | 1782 | 2456 |
|  | 16446 | 15860 | 12294 | 11741 | 14448 |
| Other Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | $4707 | $4695 | $4703 | $4932 | $4746 |

---

------

**SEACOR MARINE HOLDINGS INC.**

**UNAUDITED PERFORMANCE BY VESSEL CLASS (continued)**

**(in thousands, except statistics)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** | **Dec. 31, 2024** |
| ***PSV*** |  |  |  |  |  |
| Time Charter Statistics: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average rates per day worked | $20118 | $21507 | $22231 | $19424 | $17912 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet utilization | 68% | 65% | 68% | 55% | 72% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet available days <sup>(1)</sup> | 1735 | 1748 | 1738 | 1890 | 1932 |
| &nbsp;&nbsp;&nbsp;&nbsp;Out-of-service days for repairs, maintenance and drydockings | 48 | 161 | 247 | 396 | 117 |
| Operating Revenues: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Time charter | $23801 | $24439 | $26440 | $20286 | $24865 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bareboat charter | 843 | 846 | 838 | 708 | 364 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other marine services | 440 | 592 | 433 | 508 | 1561 |
|  | 25084 | 25877 | 27711 | 21502 | 26790 |
| Direct Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel | $8322 | $7882 | $8567 | $8351 | $8999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repairs and maintenance | 3501 | 4618 | 3799 | 3949 | 4101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Drydocking | (166) | 1113 | 1993 | 2513 | 1046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and loss reserves | 656 | 546 | 906 | 631 | 618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuel, lubes and supplies | 1985 | 2030 | 1858 | 2594 | 2379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 4378 | 3262 | 2199 | 2018 | 2566 |
|  | 18676 | 19451 | 19322 | 20056 | 19709 |
| Other Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | $3301 | $3968 | $3943 | $4133 | $4122 |

---

------

(1)Includes available days for a bareboat charter for one PSV, which has been excluded from days worked and average day rates.

------

**SEACOR MARINE HOLDINGS INC.**

**UNAUDITED PERFORMANCE BY VESSEL CLASS (continued)**

**(in thousands, except statistics)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** | **Dec. 31, 2024** |
| ***Liftboats*** |  |  |  |  |  |
| Time Charter Statistics: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average rates per day worked | $26703 | $33566 | $31904 | $39559 | $39326 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet utilization | 45% | 58% | 67% | 44% | 68% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fleet available days | 460 | 641 | 637 | 713 | 736 |
| &nbsp;&nbsp;&nbsp;&nbsp;Out-of-service days for repairs, maintenance and drydockings | 87 | 188 | 194 | 87 | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;Out-of-service days for cold-stacked status |  |  |  | 83 | 92 |
| Operating Revenues: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Time charter | $5470 | $12388 | $13682 | $12275 | $19773 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other marine services | 359 | 1128 | 1168 | 1289 | 1177 |
|  | 5829 | 13516 | 14850 | 13564 | 20950 |
| Direct Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel | $3241 | $5209 | $5673 | $5247 | $5678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repairs and maintenance | 2375 | 3943 | 6022 | 1571 | 1722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Drydocking | 243 | 639 | 2484 | 1003 | 990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and loss reserves | 415 | 1145 | 1376 | 1241 | 1384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuel, lubes and supplies | 715 | 951 | 1114 | 712 | 894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 564 | 407 | 803 | 482 | 860 |
|  | 7553 | 12294 | 17472 | 10256 | 11528 |
| Other Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 2026 | 3450 | 3424 | 3719 | 3866 |
| ***Other Activity*** |  |  |  |  |  |
| Operating Revenues: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other marine services | $378 | $111 | $191 | $290 | $195 |
|  | 378 | 111 | 191 | 290 | 195 |
| Direct Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel | $(16) | $12 | $194 | $5 | $15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repairs and maintenance | 14 | 25 | 30 | (21) | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and loss reserves | (10) | (13) | 21 | (236) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuel, lubes and supplies | 50 | 1 |  | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (68) | 46 | 29 | 9 | 12 |
|  | (30) | 71 | 274 | (242) | 29 |
| Other Costs and Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease expense | $261 | $280 | $325 | $337 | $340 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 7 | 8 | 17 | 22 | 23 |

---

------

**SEACOR MARINE HOLDINGS INC.**

**UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS**

**(in thousands)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** | **Dec. 31, 2024** |
| **ASSETS** |  |  |  |  |  |
| Current Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $68934 | $90953 | $34381 | $42988 | $59491 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted cash | 24182 | 17255 | 17174 | 2440 | 16649 |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivables: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade, net of allowance for credit loss | 64522 | 62788 | 63287 | 63946 | 69888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 3148 | 16801 | 10439 | 8811 | 7913 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax receivable | 817 | 507 | 507 | 1602 | 1601 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | 2196 | 2552 | 2539 | 2827 | 2760 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other | 5173 | 3448 | 4716 | 6075 | 4406 |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets held for sale | 10812 |  |  | 12195 | 10943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 179784 | 194304 | 133043 | 140884 | 173651 |
| Property and Equipment: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Historical cost | 776833 | 797381 | 887408 | 881961 | 900414 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated depreciation | (348812) | (344899) | (377265) | (365422) | (367448) |
|  | 428021 | 452482 | 510143 | 516539 | 532966 |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction in progress | 47002 | 40394 | 31772 | 27248 | 11904 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net property and equipment | 475023 | 492876 | 541915 | 543787 | 544870 |
| Right-of-use asset - operating leases | 982 | 903 | 1179 | 3293 | 3436 |
| Right-of-use asset - finance leases | 19 | 22 | 25 | 28 | 36 |
| Investments, at equity, and advances to 50% or less owned companies | 2938 | 2707 | 2310 | 4507 | 3541 |
| Other assets | 1855 | 1686 | 1558 | 1665 | 1577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $660601 | $692498 | $680030 | $694164 | $727111 |
| **LIABILITIES AND EQUITY** |  |  |  |  |  |
| Current Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of operating lease liabilities | $405 | $510 | $543 | $540 | $606 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of finance lease liabilities | 12 | 11 | 11 | 11 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt | 30000 | 30000 | 30000 | 30000 | 27500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 21268 | 25928 | 26737 | 28445 | 29236 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | 19044 | 24702 | 24182 | 16414 | 27683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 70729 | 81151 | 81473 | 75410 | 85042 |
| Long-term operating lease liabilities | 607 | 567 | 812 | 2926 | 2982 |
| Long-term finance lease liabilities | 8 | 11 | 14 | 17 | 20 |
| Long-term debt | 304644 | 311858 | 310980 | 310108 | 317339 |
| Deferred income taxes | 19376 | 20609 | 18330 | 20312 | 22037 |
| Deferred gains and other liabilities | 565 | 639 | 625 | 1356 | 1369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 395929 | 414835 | 412234 | 410129 | 428789 |
| Equity: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SEACOR Marine Holdings Inc. stockholders' equity: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock | 280 | 281 | 281 | 293 | 287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 471862 | 470228 | 468669 | 480904 | 479283 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (208444) | (193822) | (202816) | (196089) | (180600) |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares held in treasury | (9691) | (9639) | (9639) | (9628) | (8110) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income, net of tax | 10344 | 10294 | 10980 | 8234 | 7141 |
|  | 264351 | 277342 | 267475 | 283714 | 298001 |
| Noncontrolling interests in subsidiaries | 321 | 321 | 321 | 321 | 321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total equity | 264672 | 277663 | 267796 | 284035 | 298322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and equity | $660601 | $692498 | $680030 | $694164 | $727111 |

---

------

**SEACOR MARINE HOLDINGS INC.**

**UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(in thousands)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Dec. 31, 2025** | **Sep. 30, 2025** | **Jun. 30, 2025** | **Mar. 31, 2025** | **Dec. 31, 2024** |
| Cash Flows from Operating Activities: |  |  |  |  |  |
| Net (Loss) Income | $(14622) | $8994 | $(6727) | $(15489) | $(26226) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 10045 | 12125 | 12090 | 12810 | 12879 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred financing costs amortization | 173 | (86) | 43 | 43 | 254 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 1633 | 1559 | 1510 | 1627 | 1622 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt discount amortization | 243 | 236 | 232 | 226 | 1799 |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses | (620) | 627 | (213) | (407) | 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gains from equipment sales, retirements or impairments | (8210) | (30230) | (19163) | (5809) | (11624) |
| &nbsp;&nbsp;&nbsp;&nbsp;Losses on debt extinguishment |  |  |  |  | 28252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative losses (gains) | 73 | (17) | (87) | (125) | 536 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest on finance lease | 1 | 1 | 1 | 1 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Settlements on derivative transactions, net | 65 |  |  | (373) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Currency losses (gains) | 38 | (218) | 2119 | 1196 | (1308) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (1233) | 2279 | (1982) | (1725) | (4766) |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity earnings | (231) | (393) | (218) | (889) | (1430) |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends received from equity investees |  |  | 3199 |  |  |
| Changes in Operating Assets and Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivables | 12222 | (6700) | 284 | 5333 | 5448 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | (1530) | 1385 | 1901 | (1681) | 1338 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | (10246) | (221) | 4934 | (6204) | 1693 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash (used in) provided by operating activities | (12199) | (10659) | (2077) | (11466) | 8528 |
| Cash Flows from Investing Activities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (8427) | (9348) | (10213) | (20795) | (3010) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from disposition of property and equipment | 13087 | 76068 | 31592 | 8472 | 22441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) investing activities | 4660 | 66720 | 21379 | (12323) | 19431 |
| Cash Flows from Financing Activities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments on long-term debt | (7500) | (7500) | (7500) | (5000) | (2479) |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments on debt extinguishment |  |  |  |  | (328712) |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments on debt extinguishment cost |  |  |  |  | (3671) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of long-term debt, net of debt discount and issuance costs |  | 8098 | 8097 | (396) | 345192 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments on finance leases | (4) | (3) | (4) | (9) | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments for repurchase of common stock |  |  | (7089) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments for repurchase of warrants |  |  | (6668) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax withholdings on restricted stock vesting | (52) |  | (11) | (1518) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash (used in) provided by financing activities | (7556) | 595 | (13175) | (6923) | 10317 |
| Effects of Exchange Rate Changes on Cash, Restricted Cash and Cash Equivalents | 3 | (3) |  |  |  |
| Net Change in Cash, Restricted Cash and Cash Equivalents | (15092) | 56653 | 6127 | (30712) | 38276 |
| Cash, Restricted Cash and Cash Equivalents, Beginning of Period | 108208 | 51555 | 45428 | 76140 | 37864 |
| Cash, Restricted Cash and Cash Equivalents, End of Period | $93116 | $108208 | $51555 | $45428 | $76140 |

---

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**SEACOR MARINE HOLDINGS INC.**

**UNAUDITED FLEET COUNTS**

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| | | | |
|:---|:---|:---|:---|
|  | **Owned** | **Managed** | **Total** |
| **December 31, 2025** |  |  |  |
| FSV | 21 |  | 21 |
| PSV | 18 |  | 18 |
| Liftboats | 5 |  | 5 |
|  | 44 |  | 44 |
| **December 31, 2024** |  |  |  |
| AHTS |  | 2 | 2 |
| FSV | 22 | 1 | 23 |
| PSV | 21 |  | 21 |
| Liftboats | 8 |  | 8 |
|  | 51 | 3 | 54 |

---

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## Exhibit 99.2

![Slide 1](smhi-ex99_2s1.jpg)

SMHI LISTED NYSE SEACOR Marine Holdings Inc. Investor Presentation 25 February 2026 Exhibit 99.2

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![Slide 2](smhi-ex99_2s2.jpg)

Forward-Looking Statements Forward-Looking Statements discussed in this release as well as in other reports, materials and oral statements that SEACOR Marine Holdings Inc. ("SEACOR Marine" or the "Company") releases from time to time to the public constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as "anticipate," "estimate," "expect," "project," "intend," "believe," "plan," "target," "forecast" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern management's expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties such as the completion of our financial close process for the quarter, that could cause actual results to differ materially from those anticipated or expected by the management of the Company. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties and other important factors, many of which are beyond the Company's control. It should be understood that it is not possible to predict or identify all such factors. Investors and analysts should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. It is advisable, however, to consult any further disclosures the Company makes on related subjects in its filings with the U.S. Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (if any). These statements constitute the Company's cautionary statements under the Private Securities Litigation Reform Act of 1995. Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures. Direct Vessel Profit (defined as operating revenues less operating costs and expenses including major repairs and drydocking expenses, "DVP"), when applied to individual vessels, fleet categories or the combined fleet. DVP is a critical financial measure used by the Company to analyze and compare the operating performance of its individual vessels, fleet categories, regions and combined fleet, without regard to financing decisions (depreciation for owned vessels vs. leased-in expense for leased-in vessels). DVP is also useful when comparing the Company's fleet performance against those of our competitors who may have differing fleet financing structures. DVP has material limitations as an analytical tool in that it does not reflect all of the costs associated with the ownership and operation of our fleet, and it should not be considered in isolation or used as a substitute for our results as reported under GAAP. Adjusted EBITDA is defined as DVP less general and administrative expenses and lease expenses. We believe that the presentation of Adjusted EBITDA provides useful information to investors and management uses it to assess our on-going operations. Our use of Adjusted EBITDA should not be viewed as an alternative to measures calculated in accordance with GAAP. Adjusted EBITDA has limitations as analytical tool such as: (i) Adjusted EBITDA does not reflect the impact of earnings or charges that we consider not to be indicative of our on-going operations; (ii) Adjusted EBITDA does not reflect interest and income tax expense; and (iii) other companies, including other companies in our industry, may calculate Adjusted EBITDA differently than we do. Net Debt is defined as total debt (the most comparable GAAP measure, calculated as long-term debt plus current portion of long-term debt excluding discount and issuance costs) less cash and cash equivalents (including restricted cash). We believe that the presentation of Net Debt provides useful information to investors and management uses it to compare total debt less cash and cash equivalents across periods on a consistent basis. Reconciliation for each of these non-GAAP measures are included as an appendix to this presentation.

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![Slide 3](smhi-ex99_2s3.jpg)

I. Company Overview

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![Slide 4](smhi-ex99_2s4.jpg)

SEACOR Marine – Global OSV Owner with Modern Fleet Company Overview Leading provider of marine and support transportation services to offshore energy facilities worldwide with one of the youngest fleets in the industry Headquartered in Houston, TX, and listed on the NYSE (ticker: SMHI) with a market capitalization of $215.0M (1) Owns and operates a fleet of 44 offshore support vessels ("OSVs") including Platform Supply Vessels ("PSVs"), Fast Support Vessels ("FSVs") and Liftboats that provides crew transportation, supply, accommodation and maintenance support, with two PSVs under construction Global footprint with presence in all major offshore basins outside of Asia, serving a diverse range of customers in the oil and gas and offshore wind sectors Notable developments in FY 2025: Sale of non-core assets: two 335' Liftboats, one stacked 245' Liftboat, three PSVs (< 2,000 DWT) and one FSV, representing an average age of 13.8 years, for total proceeds of approx. $130.3M and a $63.4M gain; two additional PSVs classified as held for sale as of December 31, 2025 Share repurchase: the Company completed a securities repurchase from The Carlyle Group, representing 9.1% of the outstanding shares of common stock (2) for an aggregate purchase price of approx. $12.9M or $4.90 per share PSV newbuild program update: steel cutting and keel laying milestones achieved for the first PSV; steel cutting achieved for the second PSV, with keel laying expected in Q1 2026; capex is now fully funded Cost efficiencies: in Q4 2025, the Company completed certain cost reduction initiatives with annualized recurring savings of at least $3.9M; continued focus on optimizing the cost structure and regional footprint to help maintain the Company's competitiveness in the industry and position itself to take advantage of market opportunities Global Presence SEACOR Marine locations 11 vessels 10 vessels 7 vessels 16 vessels Middle East & Asia West Africa & Europe Latin America United States Fleet Composition (3) 44 Vessels – Average Age of 10.4 Years Region / Asset Type PSV FSV Liftboat United States (primarily Gulf of America) 3 1 3 Latin America 6 4 - Africa & Europe 6 10 - Middle East & Asia 3 6 2 Total 18 21 5 35 international flag / 9 U.S. flag (Jones Act compliant) Bloomberg, as of market close on February 24, 2026. Assuming the full exercise of repurchased warrants. Fleet Composition as of December 31, 2025.

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![Slide 5](smhi-ex99_2s5.jpg)

High-Quality and Young Fleet 44 OSVs plus 2 Newbuild PSVs under Construction PSVs FSVs Liftboats 18 PSVs and 2 newbuilds under construction Average age of 7.5 years Newbuilds with deck space of 1,000m2 and integrated hybrid power Fleet Composition: (1) 21 FSVs Average age of 12.1 years Aluminum hulls, DP-2 or DP-3, up to 150 passengers 167 to 202 feet Loa Fleet Composition: 5 Liftboats Average age of 14.0 years Working water depth up to 230 feet Accommodation up to 135 passengers Fleet Composition: Number Deck Space Avg. Age Hybrid Power 11 PSVs > 800m2 6.4 years 9 7 PSVs < 700m2 9.2 years - Number Type Avg. Age Max. Speed 15 FSVs Monohull 11.7 years 38 knots 6 FSVs Catamarans 12.8 years 42 knots Number Type Avg. Age Leg Length 2 Liftboats Premium 9.0 years 300 feet 3 Liftboats Standard 17.4 years 235-245 feet Fleet Composition for PSVs excludes two newbuilds under construction. In addition, SEACOR Marine has two remaining planned PSV conversions to hybrid power.

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![Slide 6](smhi-ex99_2s6.jpg)

Shallow water and deepwater activities Delivery of cargo, drilling fluids, fuel and water to rigs Construction, maintenance support and standby Accommodation and walk-to-work Offshore wind support Support drilling and production operations High-speed cargo transport to offshore facilities Transport of personnel at high-speed and comfort Walk-to-work capable Emergency response services Self-elevating and self-propelled work platforms Accommodation, offshore wind support Well workover, maintenance and production enhancement Decommissioning, plug and abandonment Midstream: commissioning and repair of pipelines and offshore gas facilities Diversified Asset Base Working Across the Energy Universe PSVs FSVs Liftboats Crew Transfer Maintenance Production Development Drilling Exploration Drilling Plug & Abandonment Decommissioning Offshore Wind PSV X X X X X FSV X X X X X Liftboat X X X X X

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![Slide 7](smhi-ex99_2s7.jpg)

Newbuilding Order to Position SMHI's Fleet for the Future Type & Design: Specifications: Shipyard: Propulsion: Delivery Dates: Total Investment: Two PSVs (Z 4423 Breeze Design) 4,650 DWT / 1,000 m2 Deck Space / 88.0m Loa / 20.0m Beam Fujian Mawei Shipyard Ltd., P.R. China Diesel Electric + Integrated Batteries Hybrid Propulsion October 2026 / January 2027 $82.0M On November 27, 2024, SMHI signed two shipbuilding contracts for the construction of two 1,000 m2 PSVs Key Specifications Strategic Rationale Class / Notations Highlights: ABS / FFV-1, SPS, ESS-LiBattery, DPS-2, ENVIRO, HAB (WB) Competitive pricing relative to second-hand vessels, coupled with attractive delivery dates Investment underpinned by strong market fundamentals and limited orderbook Aligns with SEACOR Marine's asset rotation strategy, aimed at renewing its fleet with high-specification assets in replacement of older / lower specification assets Adopts state-of-the-art green technology aimed at fuel efficiency and reduction in emissions including hybrid propulsion Strong design and operating capabilities will allow the vessels to work across the offshore energy universe, ranging from traditional offshore oilfield support and drilling support and operations, to walk-to-work, light subsea construction, ROV support, and offshore wind support Design Highlights: Moonpool and offshore crane-ready for subsea and geotechnical operations Safety and Compliance: highest standards including SPS Code 2008 Integrated batteries hybrid propulsion: highly efficient, operation with shore power connectivity DPS-2 azimuth propulsion with three bow thrusters for enhanced maneuverability Flexibility to upgrade to ROV support, subsea crane and helideck In Numbers PSV Fleet Geographical Footprint High Earnings Potential 11% increase in the PSV fleet, reducing the average age of the PSV fleet from 8.5 years to 7.7 years upon delivery of the vessels Vessels capable of serving all major offshore basins Leading edge day rates of $40,000+ for these size vessels according to Clarksons Research

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![Slide 8](smhi-ex99_2s8.jpg)

Funding of PSV Newbuild Program Back-Loaded Payment Terms Capex Program Fully Funded The sale of non-core AHTSs funded the first milestone payment for both vessels in Q1 2025 The new senior secured term loan is available to fund up to 50% of the total contract price; a total of $16.4M was drawn as of December 31, 2025 (1) Previously concluded asset sales generated $43.7M in restricted cash to be used against future milestone payments, of which $23.5M is remaining Newbuild program is fully funded from existing restricting cash and proceeds from assets contracted for sale, as reflected in our assets held for sale Milestone Hull MW628-11 Hull MW628-12 Signing Q4 2024 Q4 2024 Steel Cutting Q2 2025 Q3 2025 Keel Laying Q4 2025 Q1 2026 Launch Q2 2026 Q3 2026 Delivery Q4 2026 Q1 2027 % of Contract Cost 20% 20% 10% 10% 40% Total Capex $16.4M $16.4M $8.2M $8.2M $32.8M $24.6M of Tranche B under the 2024 SMFH Credit Facility remains available and undrawn as of December 31, 2025. Construction Progress On Time and On Budget Hull MW628-11: achieved Steel Cutting on May 15, 2025, and Keel Laying on November 10, 2025 Hull MW628-12: achieved Steel Cutting on September 15, 2025 (Keel Laying expected March 2026) Left: Hull Erection for Hull MW628-11 Right: Block Fabrication for Hull MW628-12

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![Slide 9](smhi-ex99_2s9.jpg)

Strengthening Contracted Revenue Backlog Contracted Revenue Backlog (1) stands in excess of $500M (including options), a high-water mark Revenue Backlog (incl. Options) by Year & Asset Class Revenue Backlog (incl. Options) by Region Revenue Backlog (incl. Options) by Asset Class Firm vs. Options 2026 2027 2028+ Firm 88% 53% 48% Options 12% 47% 52% Revenue Backlog as of December 31, 2025, and only includes charters with a duration of at least 30 days, including options. Top 5 Customers % of FY 2025 Total Revenue Azule Energy (BP / ENI Joint Venture) 27% ExxonMobil 17% Saudi Aramco 14% Milaha 7% Chevron 5% FY 2025 Total Revenue by Customer Type

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![Slide 10](smhi-ex99_2s10.jpg)

SEACOR Marine's Strategic Priorities Fleet & Cost Optimization Operational Excellence Shift away from high volatility markets and streamline portfolio of vessels to focus on higher specification PSVs and FSVs Focus on key markets where SEACOR Marine is most relevant Optimize the cost structure and regional footprint to maintain SEACOR Marine's competitiveness in the industry and position itself to take advantage of market opportunities Previously announced sale of non-accretive assets will fully fund the PSV newbuild program and eliminate additional debt draws Additional sales of non-accretive assets will create a path for deleveraging, thereby unlocking substantial embedded value in the fleet Prudent steward of capital, focusing on strengthening the balance sheet and exploring opportunities for consolidation Drive further growth in fleet utilization and day rates across asset classes and regions Demonstrate safety leadership through a robust QHSE program Leverage technology through software and operational efficiencies to drive margin growth Capital Allocation Own and operate one of the youngest and most capable fleets in the industry

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![Slide 11](smhi-ex99_2s11.jpg)

II. Market Outlook

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![Slide 12](smhi-ex99_2s12.jpg)

Supportive Industry Fundamentals Global Offshore Project Capex by FID Year Commentary: Global offshore project capex forecasted relatively flat in 2026, but hinges on oil price; long-term, new discoveries are needed to replenish reserves, and offshore activity is expected to drive growth Growth potential in 2027, with deepwater expected to grow ~10% in 2026 and 2027 Source: Clarksons Research Services, Rystad Energy. Commentary: Outlook for offshore oil and gas projects remains positive, with forecasted stable offshore exploration capex over the next several years Capex allocation towards deepwater regions, likely to drive demand for larger, high-spec OSVs and subsea Offshore Exploration Capex by Region

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![Slide 13](smhi-ex99_2s13.jpg)

Balance Supply / Demand Current demand decline is <1% from the 2024 peak Adjusted utilization remains ~90% despite "weakness" Supply and demand balance remains tight: Demand remains high with adjusted utilization close to 90%, which is supportive of a 2026 rate rebound Utilization, when adjusted for stacked PSVs, is in practice 14-15% higher than total utilization Source: Clarksons Research Services, Clarksons Securities.

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![Slide 14](smhi-ex99_2s14.jpg)

Continued Supply Side Constraints Stacked supply and stacking length PSV orderbook at ~5% of fleet Supply is Driving the Cycle: Supply side constraints continue to drive utilization for PSVs for market activity in general higher than anticipated year-to-date "Real" sideline capacity is less than 4% of the fleet and the orderbook indicates "zero" fleet growth going forward Source: Clarksons Research Services, Clarksons Securities.

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![Slide 15](smhi-ex99_2s15.jpg)

Day Rates remain above historical averages despite softness in 2025 OSV Rate Index and Offshore Index (1) Average Global PSV Day Rates Commentary: While the OSV market softened in 2025 with the OSV Rate Index standing at 185 points (-3% vs. 2024 and -8% vs. all-time high in July 2024), optimism remains given several large offshore projects reaching FID and previously suspended rigs have been recalled in the Middle East Day rates for medium and large PSVs softened in 2025, but remain above trend and well above historical averages: day rates were driven by higher demand for large PSVs in South America, and offset by lower activity on smaller tonnage OSV Rate Index basis: January 2005 = 100. Offshore Index basis: January 2007 = 100. Source: Clarksons Research Services.

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![Slide 16](smhi-ex99_2s16.jpg)

III. Financial Highlights

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![Slide 17](smhi-ex99_2s17.jpg)

Financial Highlights FY 2023 FY 2024 Fleet Average Utilization Fleet Average Day Rate Revenues Direct Vessel Profit (2) 75% 67% $16,375 $18,989 $279.5M $271.4M $119.9M $74.1M FY 2025 Fleet Count / Average Age (1) 55 / 9.4 years 51 / 10.3 years Adjusted EBITDA (3) $67.9M $27.7M 66% $18,899 $227.8M $46.1M 44 / 10.4 years ($2.6M) Fleet Count and Average Age excludes 3 managed vessels and includes 1 leased-in vessel in 2023. 2024 excludes 3 managed vessels. Direct Vessel Profit is a non-GAAP financial measure. See Slide 2 for a discussion of Direct Vessel Profit and the Appendix to this presentation for a reconciliation to GAAP. Adjusted EBITDA is a non-GAAP financial measure. See Slide 2 for a discussion of Adjusted EBITDA and the Appendix to this presentation for a reconciliation to GAAP.

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![Slide 18](smhi-ex99_2s18.jpg)

Key Financial Metrics Total Revenue, DVP (1) & DVP Margin Total Debt, Cash & Cash Equivalents & Equity Ratio FYE 2025 Commentary Direct Vessel Profit is a non-GAAP financial measure. See Slide 2 for a discussion of Direct Vessel Profit and the Appendix to this presentation for a reconciliation to GAAP. Net Debt is a non-GAAP financial measure. See Slide 2 for a discussion of Net Debt and the Appendix to this presentation for a reconciliation to GAAP. Total Revenue of $227.8M (down 16.0% vs. FY 2024), with average day rates at $18,899 and utilization at 66% Average day rates and utilization have remained steady vs. FY 2024, with utilization affected by prolonged downtime on one Liftboat in the Middle East and a higher number of maintenance days across the fleet Gain on Asset Dispositions driven by sale of three Liftboats, three PSVs, one FSV and miscellaneous vessel equipment resulting in gains of $63.4M gains Net Debt (2) position of $245.8M (vs. $273.9M as of FYE 2024) The Company remained in compliance with all its financial covenants Day Rate and Utilization Progression FY 2023 FY 2024 FY 2025 Day Rate $16,375 $18,989 $18,899 Utilization 75% 67% 66% Gains on Asset Dispositions $21.4M $13.5M $63.4M Operating Income (Loss) $35.5M -$10.4M $13.7M Net Income (Loss) -$9.3M -$78.1M -$27.8M

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![Slide 19](smhi-ex99_2s19.jpg)

DVP Breakdown by Asset Class & Region FY 2023 FY 2024 FY 2025 PSV Day Rate $18,031 $19,888 $20,857 Utilization 77% 62% 64% PSV - Direct Vessel Profit (1) $39.5M $21.6M $22.7M FSV Day Rate $11,273 $12,901 $13,852 Utilization 84% 76% 71% FSV - Direct Vessel Profit (1) $34.2M $24.0M $22.6M Liftboat Day Rate $37,523 $42,665 $33,369 Utilization 50% 58% 54% Liftboat - Direct Vessel Profit (1) $43.5M $26.2M $0.2M AHTS Day Rate $9,201 $9,156 - Utilization 70% 60% - AHTS - Direct Vessel Profit (1) $0.4M ($0.5M) ($0.3M) Miscellaneous - Direct Vessel Profit (1) $2.3M $2.8M $0.9M Average Fleet Day Rate $16,375 $18,989 $18,899 Average Fleet Utilization 75% 67% 66% Total - Direct Vessel Profit (1) $119.9M $74.1M $46.1M DVP (1) Breakdown by Asset Class Direct Vessel Profit is a non-GAAP financial measure. See Slide 2 for a discussion of Direct Vessel Profit and the Appendix to this presentation for a reconciliation to GAAP. DVP (1) Breakdown by Region FY 2023 FY 2024 FY 2025 United States (primarily Gulf of America) Day Rate $20,967 $23,076 $21,634 Utilization 45% 38% 41% Direct Vessel Profit (1) $17.1M ($10.7M) ($4.7M) Africa and Europe Day Rate $14,612 $17,453 $17,883 Utilization 87% 75% 76% Direct Vessel Profit (1) $38.7M $42.2M $28.8M Middle East and Asia Day Rate $15,003 $17,285 $17,189 Utilization 76% 78% 71% Direct Vessel Profit (1) $31.8M $20.6M $3.6M Latin America Day Rate $18,937 $23,462 $22,758 Utilization 88% 66% 65% Direct Vessel Profit (1) $32.3M $22.0M $18.3M Average Fleet Day Rate $16,375 $18,989 $18,899 Average Fleet Utilization 75% 67% 66% Total - Direct Vessel Profit (1) $119.9M $74.1M $46.1M

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![Slide 20](smhi-ex99_2s20.jpg)

Fleet Maintenance and Capital Expenditures Historical Major Repairs and Drydocking Expenses Fleet Age Distribution (1) Capital Expenditures as of December 31, 2025 Fleet Age Distribution as of December 31, 2025. Fleet Age Distribution includes two PSVs under construction to be delivered in Q4 2026 and Q1 2027, respectively. Capital Commitments 2026 2027 Newbuilds under construction – 2x PSVs $30M $16M Hybrid battery power systems – 2x PSVs - $2M Miscellaneous vessel equipment $1M - Total $31M $18M

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![Slide 21](smhi-ex99_2s21.jpg)

IV. Appendix

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![Slide 22](smhi-ex99_2s22.jpg)

Assets FY 2025 FY 2024 FY 2023 Current Assets: Cash and Cash Equivalents, including Restricted Cash 93,116 76,140 84,131 Other Current Assets 86,668 97,511 80,555 Total Current Assets 179,784 173,651 164,686 Property and Equipment, Net of Depreciation 428,021 532,966 594,682 Construction in Progress 47,002 11,904 10,362 Net Property and Equipment 475,023 544,870 605,044 Leases and Other Assets 5,794 8,590 10,606 Total Assets 660,601 727,111 780,336 Liabilities and Equity FY 2025 FY 2024 FY 2023 Current Liabilities: Current Portion of Lease Liabilities 417 623 1,626 Current Portion of Long-Term Debt 30,000 27,500 28,365 Other Current Liabilities 40,312 56,919 47,095 Total Current Liabilities 70,729 85,042 77,086 Long-Term Lease Liabilities 615 3,002 3,535 Long-Term Debt 304,644 317,339 287,544 Other Long-Term Liabilities 19,941 23,406 37,947 Total Liabilities 395,929 428,789 406,112 Total Equity 264,672 298,322 374,224 Total Liabilities and Equity 660,601 727,111 780,336 Financials – Balance Sheet and Debt Overview Balance Sheet (in $ thousands) Debt Overview (in $ thousands) Based on $16.4M drawn under Tranche B of the 2024 SMFH Credit Facility as of December 31, 2025. Source: Company filings. Debt Facility Final Maturity Principal Outstanding 2024 SMFH Credit Facility December 16, 2029 338,900 Total Debt 338,900 Discount / Issuance Costs (4,256) Total Debt, Net of Discount / Issuance Costs 334,644 (1)

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![Slide 23](smhi-ex99_2s23.jpg)

Financials – Income and Loss Statement Income and Loss Statement (in $ thousands) Source: Company filings. FY 2025 FY 2024 FY 2023 Operating Revenues 227,832 271,361 279,511 Costs and Expenses: Operating 181,772 197,252 159,650 Administrative and General 47,483 44,713 49,183 Lease Expense 1,203 1,678 2,748 Depreciation and Amortization 47,070 51,628 53,821 277,528 295,271 265,402 Gains (Losses) on Asset Dispositions and Impairments, Net 63,412 13,481 21,409 Operating Income (Loss) 13,716 (10,429) 35,518 Other Income (Expense): Interest Income 1,856 1,768 1,444 Interest Expense (36,050) (40,627) (37,504) Gains (Losses) on Debt Extinguishment - (31,923) (2,004) Derivative Gains (Losses), Net 156 (908) 608 Foreign Currency Gains (Losses), Net (3,135) (1,049) (2,133) Gains on Insurance Claim Settlement Other, Net 4,581 (189) - 121 - - (32,781) (72,618) (39,589) Income (Loss) Before Tax Expense (Benefit) and Equity (Losses) in Earnings of 50% or Less Owned Companies (19,065) (83,047) (4,071) Income Tax Expense (Benefit): Current 13,171 11,067 13,860 Deferred (2,661) (13,682) (5,061) 10,510 (2,615) 8,799 Income (Loss) Before Equity in Earnings (Losses) of 50% or Less Owned Companies (29,575) (80,432) (12,870) Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 1,731 2,308 3,556 Net Income (Loss) (27,844) (78,124) (9,314)

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![Slide 24](smhi-ex99_2s24.jpg)

Financials – Cash Flow Statement Cash Flow Statement (in $ thousands) FY 2025 FY 2024 FY 2023 Cash Flows from Continuing Operating Activities: Net Income (Loss) (27,844) (78,124) (9,314) Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by (used in) Operating Activities: Depreciation and Amortization 47,070 51,628 53,821 Debt Discount and Deferred Financing Cost Amortization 1,110 8,923 8,340 Stock-based Compensation Expense 6,329 6,458 6,000 Allowance for Credit Losses (613) 202 3,519 (Gains) Losses from Equipment Sales, Retirements or Impairments (63,412) (13,481) (21,409) (Gains) Losses on Debt Extinguishment - 28,252 177 Derivative (Gains) Losses (156) 908 (608) Interest on Finance Lease 4 3 202 Settlements on Derivative Transactions, Net (308) 164 577 Currency (Gains) Losses 3,135 1,049 2,133 Deferred Income Taxes (2,661) (13,682) (5,061) Equity (Earnings) Losses (1,731) (2,308) (3,556) Dividends Received from 50% or Less Owned Companies 3,199 2,916 2,241 Changes in Operating Assets and Liabilities: Accounts Receivables 11,139 (4,600) (17,215) Other Assets 75 (1,315) 2,288 Accounts Payable and Accrued Liabilities (11,737) 2,745 (13,188) Net Cash provided by (used in) Operating Activities (36,401) (10,262) 8,947 Cash Flows from Continuing Investing Activities: Purchases of Property and Equipment (48,783) (7,294) (10,604) Proceeds from Disposition of Property and Equipment 129,219 24,858 44,730 Principal Payments on Notes due from Others - - 15,000 Net Cash provided by Investing Activities 80,436 17,564 49,126 Source: Company filings.

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![Slide 25](smhi-ex99_2s25.jpg)

Financials – Cash Flow Statement (Continued) Cash Flow Statement (in $ thousands) FY 2025 FY 2024 FY 2023 Cash Flows from Continuing Financing Activities: Payments on Long-Term Debt (27,500) (24,312) (29,165) Payments on Debt Extinguishment - (328,712) (131,604) Payments on Debt Extinguishment Costs - (3,671) (1,827) Proceeds from issuance of Long-Term Debt, Net of Issue Costs 15,799 345,192 148,475 Proceeds from issuance of Common Stock, Net of Issue Costs - - 24 Payment for repurchase of Common Stock and Warrants (13,757) - - Proceeds from Exercise of Stock Options and Warrants - 140 6 Payments on Finance Leases (20) (41) (531) Tax Withholdings on Restricted Stock Vesting (1,581) (3,889) (2,368) Net Cash used in Financing Activities (27,059) (15,293) (16,990) Effects of Exchange Rates - - 3 Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 16,976 (7,991) 41,086 Cash, Cash Equivalents and Restricted Cash, Beginning of Period 76,140 84,131 43,045 Cash, Cash Equivalents and Restricted Cash, End of Period 93,116 76,140 84,131 Source: Company filings.

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Financial Reconciliations Adjusted EBITDA Reconciliation (in $ thousands) FY 2025 FY 2024 FY 2023 Net Income (Loss) attributable to SEACOR Marine Holdings Inc. (27,844) (78,124) (9,314) Depreciation and Amortization 47,070 51,628 53,821 Interest Expense 36,050 40,627 37,504 Interest Income (1,856) (1,768) (1,444) Taxes 10,510 (2,615) 8,799 Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) 63,930 9,748 89,366 (Gains) Losses on Asset Dispositions and Impairments, Net (63,412) (13,481) (21,409) (Gains) Losses on Debt Extinguishment - 31,923 2,004 Derivative (Gains) Losses, Net (156) 908 (608) Foreign Currency (Gains) Losses, Net 3,135 1,049 2,133 (Gains) Losses on Insurance Claim Settlement (4,581) - - Other, Net 189 (121) - Equity in (Earnings) Losses of 50% or Less Owned Companies (1,731) (2,308) (3,556) Adjusted EBITDA (2,626) 27,718 67,930 DVP Reconciliation (in $ thousands) FY 2025 FY 2024 FY 2023 Operating Income (Loss) 13,716 (10,429) 35,518 (Gains) Losses on Asset Dispositions and Impairments, Net (63,412) (13,481) (21,409) Depreciation and Amortization 47,070 51,628 53,821 Lease Expense 1,203 1,678 2,748 Administrative and General 47,483 44,713 49,183 Direct Vessel Profit (DVP) 46,060 74,109 119,861 Source: Company filings.

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Financial Reconciliations (continued) Net Debt Reconciliation (in $ thousands) FY 2025 FY 2024 FY 2023 Current Portion of Long-Term Debt 30,000 27,500 28,365 Long-Term Debt 304,644 317,339 287,544 Discount and Issuance Costs 4,256 5,161 37,115 Total Debt 338,900 350,000 353,024 Cash and Cash Equivalents, including Restricted Cash 93,116 76,140 84,131 Net Debt 245,784 273,860 268,893 DVP to Adjusted EBITDA Reconciliation (in $ thousands) FY 2025 FY 2024 FY 2023 Operating Revenues 227,832 271,361 279,511 Operating Expenses 181,772 197,252 159,650 Direct Vessel Profit (DVP) 46,060 74,109 119,861 Administrative and General 47,483 44,713 49,183 Lease Expense 1,203 1,678 2,748 Adjusted EBITDA (2,626) 27,718 67,930 Source: Company filings.

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