Subsea 7 — Earnings Release 2018

Jul 26, 2018

Subsea 7 S.A. Announces Second Quarter and Half Year 2018 Results

Subsea 7 S.A. Announces Second Quarter and Half Year 2018 Results

Luxembourg - 26 July 2018 - Subsea 7 S.A. (the Group) (Oslo Børs: SUBC, ADR: SUBCY, ISIN: LU0075646355) announced today results for the second quarter and first half of 2018 which ended 30 June 2018.

- New awards and escalations totalled $1.3 billion with seven awards announced in the quarter; order backlog increased to $5.4 billion at end June 2018

- Market activity continued to recover steadily, led by tie-back projects. Subsea 7's competitive position remains differentiated by technology, early engagement and reliable delivery, combined with good commercial positioning

- Adjusted EBITDA of $186 million and margin of 16% reflected fewer large projects, lower pricing on new awards and lower activity levels in the Renewables and Heavy Lifting and i-Tech Services Business Units compared to the prior year period

- Strategic investment in renewables: acquisition of a cable-laying company and two vessels completed in April

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