Subsea 7 — AGM Information 2017

Mar 2, 2017

Subsea 7 S.A. special dividend announcement and notification of General Meetings

Luxembourg - 2 March 2017 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, the Company) today announced that in light of Subsea 7's excellent operating performance and resulting strong financial and liquidity position, the Board of Directors will recommend to the shareholders at the Annual General Meeting (the "AGM") that a special dividend of NOK 5.00 per share be paid, equivalent to a total dividend of approximately $USD$ 200 million

The AGM is scheduled to take place at 15:00 (local time) on 12 April 2017 at the Company's registered office, 412F, route d'Esch, L-2086 Luxembourg.

An Extraordinary General Meeting (the "EGM") will also take place at the Company's registered office immediately after the AGM on 12 April 2017 in order to consider proposed amendments to the Company's articles of incorporation following recent changes to Luxembourg company law.

The proposed agenda and the notice to convene the AGM and EGM will be published and distributed to eligible shareholders on 15 March 2017.

The holders of common shares and American Depositary Receipts ("ADRs") on record at the close of business on 8 March 2017 will be entitled to vote. The deadline for submission of votes for holders of ADRs is 5 April 2017 and for holders of common shares is 7 April 2017.

If the AGM approves the proposed payment of a special dividend of NOK 5.00 per share, the last day the shares will be traded including the right to receive a dividend will be 17 April 2017 and holders of common shares and ADRs on record at the close of business on 19 April 2017 will be entitled to the dividend. The first trading date ex-dividend will be 18 April 2017. The date of payment of the dividend will be 26 April 2017.

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Subsea 7 S.A. is a leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry. We provide technical solutions to enable the delivery of complex projects in all water depths and challenging environments. ***************************************

Contact for investment community enquiries: Isabel Green Investor Relations Director Tel +44 (0)20 8210 5568 isabel.green@subsea7.com www.subsea7.com

Forward-Looking Statements: Certain statements made in this announcement may include 'forward-looking statements'. These statements may be identified by the use of words like 'anticipate', 'believe', 'could', 'estimate', 'expect', 'forecast', 'intend', 'may', 'might', 'plan', 'predict', 'project', 'scheduled', 'seek', 'should', 'will', and similar expressions. The forward-looking statements reflect our current views and are subject to risks, uncertainties and assumptions. The principal risks and uncertainties which could impact the Group and the factors which could affect the actual results are described but not limited to those in the 'Risk Management' section in the Group's Annual Report and Consolidated Financial Statements 2015. These factors, and others which are discussed in our public announcements, are among those that may cause actual and future results and trends to differ materially from our forward-looking statements: actions by regulatory authorities or other third parties; our ability to recover costs on significant projects; the general economic conditions and competition in the markets and businesses in which we operate; our relationship with significant clients; the outcome of legal and administrative proceedings or governmental enquiries; uncertainties inherent in operating internationally; the timely delivery of vessels on order; the impact of laws and regulations; and operating hazards, including spills and environmental damage. Many of these factors are beyond our ability to control or predict. Other unknown or unpredictable factors could also have material adverse effects on our future results. Given these factors, you should not place undue reliance on the forwardlooking statements.