Operating results reflect continued improvement in market conditions across all international regions.

Reduced operating loss by 30.3% compared to the first quarter of 2020 primarily driven by a reduction in impairments and lower lease expenses.

Significantly improved liquidity position with $42.2 million of cash proceeds from the Windcat sale net of $1.6 million in transaction costs and other costs, and receipt of $12.5 million in unrestricted cash from tax refund claims under the CARES Act during the quarter.

Since the beginning of 2021, SEACOR Marine has generated $74.5 million in cash and reduced debt by £20.4 million (equivalent to approximately $28.1 million).