Subsea 7 — Board/Management Information 2014

Jul 1, 2014

Subsea 7 S.A. takes action to facilitate use of its vessels in US waters

Subsea 7 S.A. takes action to facilitate use of its vessels in US waters

Luxembourg - 1 July 2014 - Subsea 7 S.A. (Oslo Børs:

SUBC) (the Company) announced today an action to

facilitate use of its vessels for energy development

related projects executed in US waters. The action

is designed to enable the Company to meet

requirements applicable to non-US companies operating

vessels in US waters.

Included within these requirements is that the

Company's Board of Directors, which has ultimate

control over these vessels, cannot, under any

circumstances, be itself controlled by a majority of

US citizens. Consequently Subsea 7 S.A., given the

current quorum rules in the Company's Articles of

Incorporation which set the minimum quorum of the

Board at four, is required to reduce the number of US

Directors from three to one.

In light of the Company's current governance

structure and the composition of its Board of

Directors, the Company announced today that two of

its Directors, Mr Robert Long and Mr Allen Stevens,

who are both US citizens, have agreed to stand down

as Directors of the Board and have resigned with

immediate effect.

Mr Long and Mr Stevens both joined the Board of

Directors of the Company in January 2011 and,

following their resignations from the Board, will

remain members of the Company's Compensation

Committee. Mr Stevens will also remain a member of

the Company's Corporate Governance and Nominations

Committee and Mr Long will continue as a member of

the Company's Audit Committee.