Subsea 7 — Director's Dealing 2020

Dec 18, 2020

Subsea 7 S.A. mandatory notification of share trades

Luxembourg – 18 December 2020 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announces mandatory notification of the following share transaction by a primary insider:

Identification of the Notifying Person:
(a) Name and first name(s) of the person making the notification; if legal person: Company name and registered office	Siem Industries Inc., P.O. Box 309, South Church Street, George Town, Grand Cayman, KY1 -1104, Cayman Islands
(b) If the notifying person is a Primary Insider,	LEI: 549300N2HGK6EBHM3F03
please specify the functions within the issuer	Chairman of Siem Industries Inc.
(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.	Mr. Kristian Siem, is the Chairman of the issuer.
Name of the issuer	Subsea 7 S.A.
Reason for notification	Mandatory notification of trade
Description of the financial instrument	Options
Nature of the transaction: Acquisition - i.e. a purchase/ any other • transaction the purpose of which is the acquisition of financial instruments. Disposal - i.e. a sale/ any other • transaction the purpose of which is the transfer of financial instruments.	See further details below
Date of the transaction	17 December 2020
Place of the transaction i.e. Any useful information concerning the place of transaction, mainly the concerned market.	OTC
Negotiated Quantity	See further details below
Price per security	See further details below
Total amount of the transaction (fees excluded)	See further details below

Further details of the transaction

Siem Industries which is represented on the board of Subsea 7 S.A. by Kristian Siem announces that it has on 17 December 2020 terminated two OTC Call Option structures with underlying shares being Subsea 7 S.A. shares. The terminated structures are for an aggregate of 2,629,000 shares, with details as follows:

Expiry	Underlying shares	Strike price NOK
2021 May 21	349,000	94
2021 May 23	2,280,000	103

Following this transaction, the total number of put and call options available to Siem Industries S.A. is 8,172,200 and the aggregate number of shares held by Siem Industries S.A. remains unchanged at 73,522,977.

AFTER THIS NOTIFICATION

Number of Shares owned by • Owned Shares: 73,522,977 Primary Insider	Performance Shares: n/a • Restricted Shares: n/a
Number of options available • to Primary Insider	Options: 8,172,200

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Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry's partner and employer of choice in delivering the efficient offshore solutions the world needs.

Subsea 7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62. *****************************************************************************************************************************************************************************

Contact for investment community enquiries: Katherine Tonks Investor Relations Director Tel +44 20 8210 5568 katherine.tonks@subsea7.com www.subsea7.com