Performance Graph  The following graph compares the cumulative total stockholder return on the company’s common stock  against the cumulative total return of the Standard & Poor’s 500 Stock Index and the cumulative total return  of the Value Line Oilfield Services Group Index (the “Peer Group”) over the last five fiscal years. The  analysis assumes the investment of $100 on April 1, 2005, at closing prices on March 31, 2005, and the  reinvestment of dividends. The Value Line Oilfield Services Group consists of 25 companies including  Tidewater Inc. Investors are cautioned against drawing conclusions from the data contained in the graph, as past results  are not necessarily indicative of future performance.  The above graph is being furnished pursuant to the Securities and Exchange Commission rules. It will not  be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act  of 1934, except to the extent that the company specifically incorporates it by reference.  -25-  Comparison of Cumulative Five Year Total Return  $0 $50 $100 $150 $200 $250 $300 2005 2006 2007 2008 2009 2010 Tidewater Inc. S&P 500 Peer Group Indexed returns  Years ended March 31 Company name/Index 2005 2006 2007 2008 2009  2010 Tidewater Inc. 100 144.06 154.53 146.86 101.11 131.53 S&P 500 100 111.73 124.94 118.60 73.43 109.97 Peer Group 100 159.42 162.65 209.34 91.36 152.25