
KONGSBERG and Oceaneering International, Inc. (OCEANEERING) (NYSE:OII) today announced their selection by the U.S. Department of War’s Defense Innovation Unit (DIU) to support the Combat Autonomous Maritime Platform

<p xmlns="http://www.w3.org/1999/xhtml">
KONGSBERG and Oceaneering International, Inc. (OCEANEERING) (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/OII">OII</a>) today announced their selection by the U.S. Department of War’s Defense Innovation Unit (DIU) to support the Combat Autonomous Maritime Platform (CAMP) program, focused on the development of an Extra-Large Uncrewed Undersea Vehicle (XLUUV) for future U.S. Navy missions.

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The CAMP program accelerates the transition of mature commercial and defense technologies into operational naval capabilities. This collaboration will focus on concept definition, system architecture, and design trade studies, emphasizing modularity, interoperability, and rapid integration.

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<b xmlns="http://www.w3.org/1999/xhtml">Mission-ready</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Being selected by DIU for the CAMP program underscores the confidence placed in our proven, mission-ready technology according to Rich Patterson, Vice President of Uncrewed Platforms. "KONGSBERG is proud to co-lead this effort with OCEANEERING, combining deep domain expertise to support the U.S. Navy’s vision for scalable and adaptable uncrewed undersea platforms. Together, we are competing to deliver the world’s leading extra-large autonomous underwater vehicle, and I believe our partnership with OCEANEERING is a key strength in achieving that goal," Patterson says.

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Bill Merz, Senior Vice President of Aerospace and Defense Technologies for OCEANEERING, comments: "We are pleased to partner with KONGSBERG on this important initiative. Our experience delivering and sustaining subsea systems globally, combined with KONGSBERG’s advanced undersea technologies, has resulted in a highly capable, world-class team ready to work."

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The design is expected to be delivered in the third quarter of this year.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Strategic Alliance</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
KONGSBERG brings a 200-year legacy of engineering excellence delivering advanced maritime and undersea systems worldwide. OCEANEERING brings six decades of established leadership in subsea robotic services, remote and autonomous missions, and global lifecycle support. Both have an extensive history supporting commercial offshore and government programs and their complementary strengths promote scale and adaptability while reducing technical and operational risk.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<i xmlns="http://www.w3.org/1999/xhtml">Statements in this press release that express a belief, expectation, or intention, as well as those that are not historical fact, are forward-looking. The forward-looking statements in this press release include statements concerning the scope of work and the expectation that the design will be delivered in the third quarter of 2026. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on current information and expectations of Oceaneering that involve a number of risks, uncertainties, and assumptions, including risks and uncertainties related to counterparty performance under contracts and market conditions and other economic factors affecting Oceaneering’s business. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual outcomes could vary materially from those indicated. These and other risks are more fully described in Oceaneering’s latest annual report on Form 10-K and its other periodic filings with the Securities and Exchange Commission.</i>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About KONGSBERG</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
KONGSBERG protects people and critical infrastructure – from deep sea to space. We develop innovative technologies for defense, security, and surveillance markets, combining military and civilian expertise. KONGSBERG delivers advanced ocean and space technologies – from autonomous marine systems to satellites and data services – supporting sustainability, climate monitoring, infrastructure protection, and security. Our defense and security solutions span missiles, weapon stations, air defense, command and control, and digital towers. Today, we have more than 7,500 employees in about 20 countries.

</p><p xmlns="http://www.w3.org/1999/xhtml">

For more information, please visit: <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kongsberg.com&amp;esheet=54568568&amp;newsitemid=20260710943954&amp;lan=en-US&amp;anchor=www.kongsberg.com&amp;index=1&amp;md5=5a0afa02244d84d7df68fc4b037e4774" shape="rect">www.kongsberg.com</a>.
</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Oceaneering</b>

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Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries.

</p><p xmlns="http://www.w3.org/1999/xhtml">
For more information, please visit <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.oceaneering.com&amp;esheet=54568568&amp;newsitemid=20260710943954&amp;lan=en-US&amp;anchor=www.oceaneering.com&amp;index=2&amp;md5=b540f6b7718287229c8f395056459e84" shape="rect">www.oceaneering.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260710943954r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260710943954/en/" rel="nofollow">https://www.businesswire.com/news/home/20260710943954/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Hilary Frisbie
<br xmlns="http://www.w3.org/1999/xhtml"></br>Senior Director, Investor Relations
<br xmlns="http://www.w3.org/1999/xhtml"></br>Oceaneering International, Inc.
<br xmlns="http://www.w3.org/1999/xhtml"></br>713-329-4755
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:investorrelations@oceaneering.com" shape="rect">investorrelations@oceaneering.com</a>

</p>

KONGSBERG and OCEANEERING Team Selected by U.S. Department of War to Support DIU CAMP Program for XLUUV

Oceaneering and Kongsberg win DIU CAMP role for XL UUV program

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>KONGSBERG and Oceaneering International, Inc. (OCEANEERING) (NYSE:OII) today announced their selection by the U.S. Department of War’s Defense Innovation Unit (DIU) to support the Combat Autonomous Maritime Platform</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Oceaneering and Kongsberg were selected by the DIU to support the Combat Autonomous Maritime Platform for an Extra-Large Uncrewed Undersea Vehicle. The collaboration will define concepts, architecture, and design trades with emphasis on modularity and rapid integration, and design delivery is expected in Q3 2026. A successful outcome could lead to additional Navy work and expand Oceaneering&#039;s defense pipeline.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Oceaneering (OII) and Kongsberg named for DIU CAMP, XL UUV program.</li><li>Focus areas: concept definition, system architecture, design trade studies; modularity emphasized.</li><li>Design delivery targeted for Q3 2026; collaboration aims to accelerate Navy capabilities.</li><li>Strategic alliance leverages Kongsberg&#039;s engineering legacy with Oceaneering&#039;s subsea expertise.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Oceaneering International, Inc. (OII)</strong>: Primary beneficiary; DIU CAMP involvement could expand defense backlog and related services.</li><li><strong>Kongsberg Gruppen ASA (KOG.OL)</strong>: Strategic partner; co-lead on XL UUV effort may broaden international defense collaborations.</li></ul>
  </section>

  <section data-block="category">
    <h3>Industry News</h3>
    <p>Industry News: Illustrates a cross-border defense alliance targeting a high-profile Navy program, with potential incremental revenue for Oceaneering and enhanced exposure to large-scale subsea autonomy contracts.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>DIU CAMP selection signals potential near-term government defense demand for OII.</li><li>Third-quarter 2026 design delivery creates a discrete catalysts timeline.</li><li>Strategic alliance with KONGSBERG leverages combined maritime and subsea capabilities.</li><li>No contract value disclosed; execution risk and potential award visibility remain.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Oceaneering International, Inc. (OII) and Kongsberg selected by DIU for CAMP program.</li><li>XL UUV stands for Extra-Large Uncrewed Undersea Vehicle.</li><li>Design delivery expected in the third quarter of 2026.</li><li>Kongsberg Gruppen has a 200-year engineering legacy; Oceaneering has six decades in subsea.</li><li>Program aims to accelerate maturation of defense technologies for naval use.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish for OII in the near term on potential follow-on CAMP contracts and related defense revenue.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
KONGSBERG and Oceaneering International, Inc. (OCEANEERING) (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/OII">OII</a>) today announced their selection by the U.S. Department of War’s Defense Innovation Unit (DIU) to support the Combat Autonomous Maritime Platform (CAMP) program, focused on the development of an Extra-Large Uncrewed Undersea Vehicle (XLUUV) for future U.S. Navy missions.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The CAMP program accelerates the transition of mature commercial and defense technologies into operational naval capabilities. This collaboration will focus on concept definition, system architecture, and design trade studies, emphasizing modularity, interoperability, and rapid integration.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Mission-ready</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Being selected by DIU for the CAMP program underscores the confidence placed in our proven, mission-ready technology according to Rich Patterson, Vice President of Uncrewed Platforms. "KONGSBERG is proud to co-lead this effort with OCEANEERING, combining deep domain expertise to support the U.S. Navy’s vision for scalable and adaptable uncrewed undersea platforms. Together, we are competing to deliver the world’s leading extra-large autonomous underwater vehicle, and I believe our partnership with OCEANEERING is a key strength in achieving that goal," Patterson says.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Bill Merz, Senior Vice President of Aerospace and Defense Technologies for OCEANEERING, comments: "We are pleased to partner with KONGSBERG on this important initiative. Our experience delivering and sustaining subsea systems globally, combined with KONGSBERG’s advanced undersea technologies, has resulted in a highly capable, world-class team ready to work."

</p><p xmlns="http://www.w3.org/1999/xhtml">
The design is expected to be delivered in the third quarter of this year.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Strategic Alliance</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
KONGSBERG brings a 200-year legacy of engineering excellence delivering advanced maritime and undersea systems worldwide. OCEANEERING brings six decades of established leadership in subsea robotic services, remote and autonomous missions, and global lifecycle support. Both have an extensive history supporting commercial offshore and government programs and their complementary strengths promote scale and adaptability while reducing technical and operational risk.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<i xmlns="http://www.w3.org/1999/xhtml">Statements in this press release that express a belief, expectation, or intention, as well as those that are not historical fact, are forward-looking. The forward-looking statements in this press release include statements concerning the scope of work and the expectation that the design will be delivered in the third quarter of 2026. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on current information and expectations of Oceaneering that involve a number of risks, uncertainties, and assumptions, including risks and uncertainties related to counterparty performance under contracts and market conditions and other economic factors affecting Oceaneering’s business. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual outcomes could vary materially from those indicated. These and other risks are more fully described in Oceaneering’s latest annual report on Form 10-K and its other periodic filings with the Securities and Exchange Commission.</i>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About KONGSBERG</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
KONGSBERG protects people and critical infrastructure – from deep sea to space. We develop innovative technologies for defense, security, and surveillance markets, combining military and civilian expertise. KONGSBERG delivers advanced ocean and space technologies – from autonomous marine systems to satellites and data services – supporting sustainability, climate monitoring, infrastructure protection, and security. Our defense and security solutions span missiles, weapon stations, air defense, command and control, and digital towers. Today, we have more than 7,500 employees in about 20 countries.

</p><p xmlns="http://www.w3.org/1999/xhtml">

For more information, please visit: <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kongsberg.com&amp;esheet=54568568&amp;newsitemid=20260710943954&amp;lan=en-US&amp;anchor=www.kongsberg.com&amp;index=1&amp;md5=5a0afa02244d84d7df68fc4b037e4774" shape="rect">www.kongsberg.com</a>.
</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Oceaneering</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries.

</p><p xmlns="http://www.w3.org/1999/xhtml">
For more information, please visit <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.oceaneering.com&amp;esheet=54568568&amp;newsitemid=20260710943954&amp;lan=en-US&amp;anchor=www.oceaneering.com&amp;index=2&amp;md5=b540f6b7718287229c8f395056459e84" shape="rect">www.oceaneering.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260710943954r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260710943954/en/" rel="nofollow">https://www.businesswire.com/news/home/20260710943954/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Hilary Frisbie
<br xmlns="http://www.w3.org/1999/xhtml"></br>Senior Director, Investor Relations
<br xmlns="http://www.w3.org/1999/xhtml"></br>Oceaneering International, Inc.
<br xmlns="http://www.w3.org/1999/xhtml"></br>713-329-4755
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:investorrelations@oceaneering.com" shape="rect">investorrelations@oceaneering.com</a>

</p>

Oceaneering and Kongsberg were selected by the DIU to support the Combat Autonomous Maritime Platform for an Extra-Large Uncrewed Undersea Vehicle. The collaboration will define concepts, architecture, and design trades with emphasis on modularity and rapid integration, and design delivery is expected in Q3 2026. A successful outcome could lead to additional Navy work and expand Oceaneering's defense pipeline.

KONGSBERG and OCEANEERING Team Selected by U.S. Department of War to Support DIU CAMP Program for XLUUV

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Industry News

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