Subsea 7 — Director's Dealing 2019

Jun 4, 2019

Subsea 7 S.A. mandatory notification of share trades

Luxembourg – 04 June 2019 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announces mandatory notification of the following share transaction by a primary insider:

MANDATORY NOTIFICATION OF MANAGERS' TRANACTIONS
Identification of the notifying person:	Siem Industries Inc., P.O. Box 309, South
(a) Name and first name(s) of the person	Church Street, George Town, Grand
making the notification; if legal person:	Cayman, KYl -1104, Cayman Islands
Company name and registered office
(b) If the notifying person is a Primary	Chairman of Siem Industries Inc. is the
Insider, please specify the functions within	Chairman of the issuer
the issuer
(c) If the notifying person is a Close
Associate of a Primary Insider please indicate
"one of the persons closely associated with"
and the name, first name and functions of
the person with whom they are closely
associated.
Name if the issuer	Subsea 7 S.A.
Reason for notification	Mandatory notification of trade
Description of the financial instrument	Shares
Nature of the transaction
• Acquisition - i.e. a purchase/ any
other transaction the purpose of which is the
acquisition of financial instruments.	Put and call options on Subsea 7 SA shares
• Disposal - i.e. a sale/ any other
transaction the purpose of which is the
transfer of financial instruments.
Date of the transaction	3 June 2019
Place of the transaction i.e. Any useful	OTC
information concerning the place of	(See further details below)
transaction, mainly the concerned market.
Negotiated quantity	See further details below
Price per security	See further details below
Total amount of the transaction (fees	See further details below
excluded)

Further details of the transaction

Siem Industries Inc. (the "Company") announces that it has today entered into an OTC Option structure with 8 legs and the underlying shares being Subsea 7 S.A. ("SUBC") shares. Two of the legs represent bought Calls for an aggregate 4,560,000 SUBC shares and 6 of the legs represent sold Puts for an aggregate 7,600,000 SUBC shares with the details as follows:

	Bought Call	Sold Put	Strike
	Underlying	Underlying	Price
Expiry	Shares	Shares	NOK
2019 Aug 16		1,140,000	90
2019 Nov 15		1,140,000	90
2020 Feb 21		1,140,000	90
2020 May 15		1,140,000	90
2020 Dec 18		1,520,000	85
2020 Dec 18	2,280,000		103
2021 May 23		1,520,000	83
2021 May 23	2,280,000		103

In the event that all options are exercised, the number of Subsea 7 shares beneficiallyowned by the Company will increase from 71,712,977 shares to 83,872,977 shares, or approximately 26.9% of Subsea 7's issued shares.

Siem Industries is represented on the Board of Directors of Subsea 7 S.A. by Kristian Siem and Eystein Eriksrud, the Company's Chairman and Deputy CEO, respectively.

Contact for investment community enquiries:

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