Subsea 7 - Capital/Financing Update 2015

Subsea 7 S.A. repurchase of convertible bonds

Luxembourg - 16 December 2015 - Subsea 7 S.A. (Oslo

Børs: SUBC, ADR: SUBCY) (the Company) announced that,

through market purchases on 15 December 2015, it has

bought bonds totalling USD 9,600,000 in nominal value

at an average price of 93.50 of the USD 700 million

1.00% Subsea 7 S.A. Convertible Bond Issue 2012/2017

(ISIN NO 001 066 116 8).

Following the purchase, the Company holds bonds with

an aggregate nominal value of USD 151,800,000

representing approximately 21.7% of the 1.00% Subsea 7

S.A. Convertible Bond Issue 2012/2017 (ISIN NO 001 066

116 8).

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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.

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Contact for investment community enquiries:

Isabel Green

Investor Relations Director

Tel +44 (0)20 8210 5568

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