Subsea 7 — M&A Activity 2010

Nov 24, 2010

SUBSEA 7 INC. COURT MEETING

GEORGE TOWN, GRAND CAYMAN, 23 November 2010 -

SUBSEA 7 INC. (OSE Symbol: SUB), announces that the

Sanction Order related to the Scheme of Arrangement

in connection with the proposed Combination with

Acergy S.A. was approved at a Court Meeting held on

November 23, 2010.

The Sanction Order will be filed when the remaining

conditions for completion have been fulfilled which

is not expected to happen until January 2011.

Ends

23 November 2010

For further information, contact:

Barry Mahon, Chief Financial Officer, Tel: +44 (0)

1224 526147.

Subsea 7 Corporate Communications:

Jackie Doyle, Head of Communications, Tel +44 (0)

1224 526196.