Subsea 7 — AGM Information 2021

Mar 12, 2021

Subsea 7 S.A. Notice of Annual General Meeting and Extraordinary General Meeting

Subsea 7 S.A. Notice of Annual General Meeting and Extraordinary General Meeting

Luxembourg - 12 March 2021 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today

published and distributed to eligible holders of Common Shares and American

Depositary Receipts the Notice of Meeting and supporting materials for the

Annual General Meeting of Shareholders (the AGM) and the Extraordinary General

Meeting of Shareholders (the EGM).

The AGM is scheduled to take place at 15:00 (local time) on 14 April 2021 at the

Company's registered office, 412F, route d'Esch, L-2086 Luxembourg and the EGM

will take place immediately thereafter. Due to the ongoing Covid-19 pandemic,

both the AGM and the EGM will be held without the shareholders' physical

presence, as permitted under the Luxembourg law dated 23 September 2020 on

measures concerning the holding of meetings in companies and other legal

entities, as amended.

The holders of Common Shares and American Depositary Receipts on record at the

close of business on 1 March 2021 will be entitled to vote at the AGM and EGM.

In addition, for both the AGM and EGM, the deadline for submission of votes for

holders of American Depositary Receipts is 5 April 2021 and for holders of

Common Shares is 9 April 2021. The Board of Directors recommend that eligible

holders of Common Shares and American Depositary Receipts submit their votes

electronically.

The Notice of Meeting and supporting materials, including the full text of the

proposed changes to the articles of association, the report of the Board of

Directors with respect to the requested authorisation to waive, limit and

suppress the preferential subscription rights of existing shareholders, as well

as copies of the 2020 statutory and consolidated financial statements of the

Company can be found on the Company's website: www.subsea7.com

(http://www.subsea7.com)

*******************************************************************************

Subsea 7 is a global leader in the delivery of offshore projects and services

for the evolving energy industry, creating sustainable value by being the

industry's partner and employer of choice in delivering the efficient offshore

solutions the world needs.

Subsea 7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI

222100AIF0CBCY80AH62.

*******************************************************************************

Contact for investment community enquiries:

Katherine Tonks

Investor Relations Director

Tel +44 20 8210 5568

Katherine.Tonks@subsea7.com

www.subsea7.com

Forward-Looking Statements: This announcement may contain 'forward-looking

statements' (within the meaning of the safe harbour provisions of the U.S.

Private Securities Litigation Reform Act of 1995). These statements relate to

our current expectations, beliefs, intentions, assumptions or strategies

regarding the future and are subject to known and unknown risks that could cause

actual results, performance or events to differ materially from those expressed

or implied in these statements. Forward-looking statements may be identified by

the use of words such as 'anticipate', 'believe', 'estimate', 'expect',

'future', 'goal', 'intend', 'likely' 'may', 'plan', 'project', 'seek', 'should',

'strategy' 'will',  and similar expressions. The principal risks which could

affect future operations of the Group are described   in the 'Risk Management'

section of the Group's Annual Report and Consolidated Financial Statements for

the year ended 31 December 2020. Factors that may cause actual and future

results and trends to differ materially from our forward-looking statements

include (but are not limited to): (i) our ability to deliver fixed price

projects in accordance with client expectations and within the parameters of our

bids, and to avoid cost overruns; (ii) our ability to collect receivables,

negotiate variation orders and collect the related revenue; (iii) our ability to

recover costs on significant projects; (iv) capital expenditure by oil and gas

companies, which is affected by fluctuations in the price of, and demand for,

crude oil and natural gas; (v) unanticipated delays or cancellation of projects

included in our backlog; (vi) competition and price fluctuations in the markets

and businesses in which we operate; (vii) the loss of, or deterioration in our

relationship with, any significant clients; (viii) the outcome of legal

proceedings or governmental inquiries; (ix) uncertainties inherent in operating

internationally, including economic, political and social instability, boycotts

or embargoes, labour unrest, changes in foreign governmental regulations,

corruption and currency fluctuations; (x) the effects of a pandemic or epidemic

or a natural disaster; (xi) liability to third parties for the failure of our

joint venture partners to fulfil their obligations; (xii) changes in, or our

failure to comply with, applicable laws and regulations (including regulatory

measures addressing climate change); (xiii) operating hazards, including spills,

environmental damage, personal or property damage and business interruptions

caused by adverse weather; (xiv) equipment or mechanical failures, which could

increase costs, impair revenue and result in penalties for failure to meet

project completion requirements; (xv) the timely delivery of vessels on order

and the timely completion of ship conversion programmes; (xvi) our ability to

keep pace with technological changes and the impact of potential information

technology, cyber security or data security breaches; and (xvii) the

effectiveness of our disclosure controls and procedures and internal control

over financial reporting;. Many of these factors are beyond our ability to

control or predict. Given these uncertainties, you should not place undue

reliance on the forward-looking statements. Each forward-looking statement

speaks only as of the date of this announcement.  We undertake no obligation to

update publicly or revise any forward-looking statements, whether as a result of

new information, future events or otherwise.