Subsea 7 — Board/Management Information 2021

Mar 12, 2021

Subsea 7 announces proposed nominations to the Company's Board of Directors

Subsea 7 announces proposed nominations to the Company's Board of Directors

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

announced the following changes to the membership of the Board of Directors,

with new appointments being subject to approval at the AGM on 14 April 2021:

Ms Elisabeth Proust, currently Independent Director and member of both the Audit

Committee and the Compensation Committee, will not be standing for re-election

at the AGM.

The Board would like to thank Ms Elisabeth Proust for her valuable contribution

to the Company.

The Board of Directors proposes Mr Eldar Sætre for election at the AGM as

independent Non-Executive Director, with the appointment being effective from 1

June 2021. Biographical details of Mr Eldar Sætre are included in the published

AGM materials.

The Board also proposes that Mr Kristian Siem and Mr Dod Fraser be re-elected as

Directors of the Company at the AGM.

Changes to Committee memberships will be discussed at the next meeting of the

Board, in May.

Contact for investment community enquiries:

Katherine Tonks

Investor Relations Director

Tel +44 (0)20 8210 5568

katherine.tonks@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.