Subsea 7 - Capital/Financing Update 2015

Correction - Subsea 7 S.A. repurchase of convertible bonds

Luxembourg - 3 July 2015 - Subsea 7 S.A. (Oslo

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

that, through market purchases on 2 July 2015, it

has bought bonds totalling USD 10,000,000 in

nominal value at an average price of 91.5 of the

USD 700 million 1.00% Subsea 7 S.A. Convertible

Bond Issue 2012/2017 (ISIN NO: 001066116.8).

Following the purchase, the Company holds bonds

with an aggregate nominal value of USD 91,800,000

representing approximately 13.1% of the 1.00%

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

(ISIN NO: 001066116.8).

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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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