Subsea 7 — Director's Dealing 2010

Oct 19, 2010

MANDATORY NOTIFICATION

Report of Share Transaction by Primary Insider

PURCHASE OF SHARES
Name of Primary Insider	Bruno Chabas
Position in Acergy SA	Chief Operating Officer
Date of Transaction	October 18, 2010
Number of shares purchased	105,834 (Exercise of options granted on: May 14, 2004)
Price purchased at	$2.30 – option price as per date of grant

SALE OF SHARES
Name of Primary Insider	Bruno Chabas
Position in Acergy SA	Chief Operating Officer
Date of transaction	October 18, 2010
Number of shares sold	105,834
Price sold at	NOK116.2877

AFTER THIS NOTIFICATION
Number of Shares owned by Primary Insider	Performance Shares: 50,000 Owned Shares: 26,504
Number of options available To Primary Insider	89,999

To be emailed to Market Operator at Oslo Børs ASA – ma@ose.no

Breach of the notification requirement is a punishable offence. The notification requirement is not satisfied until the appropriate notification has been delivered to Oslo Børs and made publicly available. If you fail to deliver a required notification within the stipulated timetable, you must nonetheless deliver the notification, even if it is received after the deadline, in order to avoid the matter becoming more serious. This is necessary to satisfy the market's need for information on transactions carried out by primary insiders. Any breach of the requirements in respect of the content of a notification is also a punishable offence. If Oslo Børs suspects any breach of the notification requirement, it will routinely notify Kredittilsynet of this together with details of the personal information mentioned above. Kredittilsynet will investigate such a referral and reach a decision on whether the matter shall be referred to the prosecuting authorities. For more information please refer to the Insider Trading Factsheet.