Subsea 7 - Capital/Financing Update 2016

Subsea 7 S.A. repurchase of convertible bonds

Luxembourg - 3 February 2016 - Subsea 7 S.A. (Oslo

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

through market purchases on 2 February 2016, it has

bought bonds totalling USD 40,000,000 in nominal value

at an average price of 90.60 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 229,800,000

representing approximately 32.8% 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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