Subsea 7 — Earnings Release 2018

Nov 8, 2018

Subsea 7 S.A. Announces Third Quarter 2018 Results

Subsea 7 S.A. Announces Third Quarter 2018 Results

Luxembourg – 8 November 2018 – Subsea 7 S.A. (the Group) (Oslo Børs: SUBC, ADR: SUBCY, ISIN: LU0075646355) announced today results for the third quarter which ended 30 September 2018.

Third Quarter highlights

• Adjusted EBITDA of $217 million and margin of 20% reflected higher vessel utilisation related to project activity and increased demand for life of field services worldwide

• New awards and escalations totalled $0.8 billion with four awards announced in the quarter; order backlog was $5.1 billion at the quarter end

• Net cash generated from operating activities of $190 million included $8 million decrease in net operating liabilities as the Group’s working capital position stabilised

• Tendering and awards activity showed continued recovery for the oil and gas market and market growth for renewables

• New guidance for 2019 forecasts Revenue and Adjusted EBITDA lower then 2018, with gradual recovery expected from 2020

For further information, including the results press release, presentation and

conference call dial in details please visit our website at www.subsea7.com or

contact:

Isabel Green

Investor Relations

Subsea 7 S.A.

e-mail: isabel.green@subsea7.com

T: +44 (0) 20 8210 5568