Subsea 7 — Capital/Financing Update 2017

Oct 5, 2017

Subsea 7 S.A. final maturity of convertible bonds

Luxembourg - 5 October 2017 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, the Company) announced that its USD 700 million 1.0% Convertible Bond Issue 2012/2017 with ISIN Number 001 066 116 8 (the "Bonds") reached final maturity today.

The Company has cancelled Bonds with an aggregate nominal value of USD 342 million. These Bonds were held by the Company as a result of previous Bond repurchases. The remaining outstanding Bonds with an aggregate nominal value of USD 358 million have been redeemed fully for cash.

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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. Subsea 7 is listed on the Oslo Bors (SUBC), ISIN LU0075646355.

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Contact for investment community enquiries:

Isabel Green Investor Relations Director Tel +44 (0)20 8210 5568 isabel.green@subsea7.com www.subsea7.com

Forward-Looking Statements: Certain statements made in this announcement may include 'forward-looking statements'. These statements may be identified by the use of words like 'anticipate', 'believe', 'could', 'estimate', 'expect', 'forecast', 'intend', 'may', 'might', 'plan', 'predict', "The second of the distribution of the matter of the forward-looking statements reflect our current views and are subject to
risks, uncertainties and assumptions. The principal risks and uncertainties which could impact th actual results are described but not limited to those in the 'Risk Management' section in the Group's Annual Report and Consolidated Financial Statements 2016. These factors, and others which are discussed in our public announcements, are among those that may cause actual and future results and trends to differ materially from our forward-looking statements: actions by regulatory authorities or other third parties; our ability to recover costs on significant projects; the general economic conditions and competition in the markets and businesses in which we operate; our relationship with significant clients; the outcome of legal and administrative proceedings or governmental enguiries; uncertainties inherent in operating internationally; the timely delivery of vessels on order; the impact of laws and regulations; and operating hazards, including spills and environmental damage. Many of these factors are beyond our ability to control or predict. Other unknown or unpredictable factors could also have material adverse effects on our future results. Given these factors, you should not place undue reliance on the forward-looking statements.