Subsea 7 — Earnings Release 2018

Apr 26, 2018

Subsea 7 S.A. Announces First Quarter 2018 Results

Subsea 7 S.A. Announces First Quarter 2018 Results

Luxembourg - 26 April 2018 - Subsea 7 S.A. (the Group) (Oslo Børs: SUBC, ADR: SUBCY, ISIN: LU0075646355) announced today results for the first quarter which ended 31 March 2018.

First Quarter highlights

- Adjusted EBITDA of $103 million, at a margin of 13%, included a seasonal reduction in offshore activity levels

- New awards and escalations totalled $829 million, raising order backlog to $5.3 billion, as tendering activity continued to gradually increase

- Joint venture proposed with Schlumberger for integrated SPS and SURF solutions and combined Life of Field services

- Targeted investments to enhance early engineering capability with the acquisition of a strategic interest in Xodus Group, and widen renewables capability with the agreement to acquire a cable-laying company and two vessels

- Strong financial and liquidity position maintained with net cash of $730 million at 31 March 2018, and $656 million unutilised credit facilities

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