TIDEWATER INC

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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A MESSAGE TO OUR STOCKHOLDERS FROM TIDEWATER’S

PRESIDENT & CHIEF EXECUTIVE OFFICER,

QUINTIN V. KNEEN

Dear Fellow Stockholders,

As Tidewater celebrates its 70th anniversary in 2026, I extend my sincere gratitude for your trust and continued investment. I am honored to commemorate this milestone with you at our upcoming 2026 Annual Meeting of Stockholders being held on June 16, 2026.

Our story began with Alden “Doc” Laborde, a visionary who in 1956 led Tidewater in building the world’s first offshore support vessel, the Ebb Tide. Today, we have a global workforce consisting of over 7,300 people, operating more than 200 vessels, across over 30 countries and representing over 90 nationalities.

During 2025, we operated in an environment marked by both opportunity and uncertainty. Against this backdrop, our team remained focused on executing our strategy with discipline. As a result, we delivered another year of strong financial results, with $1.35 billion in revenue, $333.5 million in net income, $598.1 million in adjusted EBITDA, $379.1 million net cash provided by operating activities and $426.0 million of free cash flow.1

Safety first, sustainability always is a founding principle that guides how we operate across our global footprint, on every vessel, in every region, and in every decision we make. Strong governance and a commitment to transparency and communication are fundamental to this principle and Tidewater’s future success. Our Board of Directors understands the importance of our safety first, sustainability always principle and remains focused on supporting our growth and strategy through their active oversight, broad expertise, and engagement with management to drive effective

risk management and long term value for our stockholders.

Our current position in the offshore market and our 2025 financial performance are the result of our strong governance framework and a focused multi-year strategy. That strategy includes enhancing our fleet profile through targeted disposals and disciplined acquisitions, as well as leveraging our historical investments in scalable global shore-based infrastructure.

We feel confident in our ability to drive another year of progress in 2026 and continue to have a positive outlook on the offshore energy industry. While ongoing global conflicts, including in the Middle East, have introduced near-term uncertainty, it underscores the strategic importance of energy security and the need for sustained upstream investment to support reliable and affordable global energy supply. As demand for hydrocarbons continues to grow, we expect offshore developments to play an important role given their scale, long reserve lives, and attractive economics. We believe these dynamics support a sustained upcycle for offshore services and position Tidewater well, given our global operating footprint, modern and high-specification fleet, and disciplined strategy.

On behalf of the Company, I want to express my appreciation to our Board members for their support, guidance and dedication. Together, we remain committed to acting in the best interests of our stockholders and advancing Tidewater’s long-term success. To our customers, stockholders, employees and communities, thank you for your continued support of Tidewater. I remain honored to serve as the Company’s President and Chief Executive Officer, and I appreciate the trust you place in me, our Board and our leadership team.

Sincerely,

Quintin V. Kneen

President, Chief Executive Officer & Director

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A MESSAGE TO OUR STOCKHOLDERS FROM TIDEWATER’S

CHAIRMAN OF THE BOARD, DICK FAGERSTAL

Dear Fellow Stockholders:

In this annual letter to stockholders, I have tried to outline some of the main principles used by your Board in managing its affairs. As a Board, we are committed to strive for “best practice” governance, which provides a roadmap and guidelines for how we operate and make decisions.

As always, safety is more than a top priority, it’s a fundamental core value that shapes our decisions, our culture and our leadership. Without it, we risk losing the confidence of employees, contractors, customers, investors, and regulators. To ensure proper oversight, the Board has established a dedicated Safety & Sustainability Committee, allowing for focused attention on safe operations. Good governance goes beyond rules, it reflects how we act. We are committed to transparency, accountability, and integrity in our relationships with all stakeholders.

We continue to invest in Board education to better navigate the complexity of our industry and make informed, risk-adjusted decisions aligned with our long-term strategy. Our investment includes a strong focus on cybersecurity, where risks are increasing, and on artificial intelligence, which presents both opportunities and challenges. We are working to ensure the Board is well equipped to support management in these areas.

A diverse and skilled Board is essential to effective oversight. We regularly evaluate our composition and performance to ensure we maintain the right mix of experience and perspectives. We also believe that separating the

roles of Chairman and CEO represents best practice, ensuring clear oversight of management and alignment with stockholder interests.

We aim to foster a culture of continuous learning, we aspire to be a “learn-it-all” rather than a “know-it-all” organization. We periodically hold Board meetings in key operating regions, which helps deepen our understanding of our global business and our local operating teams.

We have developed within robust governance frameworks to support our operations and compliance with applicable regulations across all jurisdictions. Our whistleblower system allows employees and stakeholders to raise concerns directly with the Board.

Engagement with stockholders remains a priority. Over the past year, we have connected with stockholders representing nearly 50% of our ownership, and we listen to and value their input in shaping our strategy.

We are fortunate to have an experienced management team led by our CEO and President, Quintin Keen, whose leadership has driven profitable growth through successful acquisitions and disciplined execution of our strategy. I would like to thank Quintin, the management team, and our more than 7,300 employees worldwide for their significant contributions in 2025.

In summary, we believe our focus on safety, governance, continuous learning, and proactive risk management position the Company to create long-term value for our stockholders.

Thank you for your continued support.

Sincerely,

Dick Fagerstal

Chairman of the Board

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842 West Sam Houston Parkway North, Suite 400

Houston, Texas 77024

NOTICE OF ANNUAL MEETING

OF STOCKHOLDERS

Houston, Texas