Subsea 7 — M&A Activity 2016

Aug 10, 2016

Subsea 7 acquires Swagelining Limited

Luxembourg – 10 August 2016 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the acquisition of Swagelining Limited, the subsea industry's leading polymer lining technologist, to further expand existing polymer pipeline technology interests.

Subsea 7 and Swagelining Limited have cooperated together as a successful partnership, designing and installing in excess of 150km of reeled and bundled polyethylene (PE) lined water injection flowlines in the North Sea, for a number of operators and developments.

Thomas Sunde, Subsea 7 VP Technology, commented: "Building upon a long-term strategic objective to provide more cost-effective solutions, Subsea 7 and Swagelining have a shared vision of the potential that polymer lining could have in future subsea engineering and construction projects, with a focus on extending the application of polymer lined flowlines.

"The acquisition of Swagelining Limited will enable Subsea 7 to enhance its flowline and riser technology portfolios, and supports Subsea 7's commitment to develop and apply technologies that reduce cost, enhance production and extend field life."

Supplementary information

• 1. Subsea 7 S.A. is a leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry. We provide technical solutions to enable the delivery of complex projects in all water depths and challenging environments.
• 1. Swagelining Limited designs and installs polymer lining systems for strategic pipeline and riser systems. The company is at the forefront of the drive to extend polymer lining technology to provide internal corrosion protection in carbon steel pipes, transporting corrosive or erosive products under high pressure.
• 1. Swagelining Limited employs approximately 50 people and occupies leased space at North Clydesdale Industrial Park, Glasgow.
• 1. For further information visit www.subsea7.com or www.swagelining.com.

Contact for investment community enquiries:

Isabel Green Investor Relations Director Tel +44 (0)20 8210 5568 isabel.green@subsea7.com

Contact for media enquiries:

Julie Taylor

Communications Manager

Tel: +44 (0)1224 526270

julie.taylor@subsea7.com

Forward-Looking Statements: Certain statements made in this announcement may include 'forward-looking statements'. These statements may be identified by the use of words like 'anticipate', 'believe', 'could', 'estimate', 'expect', 'forecast', 'intend', 'may', 'might', 'plan', 'predict', 'project', 'scheduled', 'seek', 'should', 'will', and similar expressions. The forward-looking statements reflect our current views and are subject to risks, uncertainties and assumptions. The principal risks and uncertainties which could impact the Group and the factors which could affect the actual results are described but not limited to those in the 'Risk Management' section in the Group's Annual Report and Consolidated Financial Statements 2015. These factors, and others which are discussed in our public announcements, are among those that may cause actual and future results and trends to differ materially from our forward-looking statements: actions by regulatory authorities or other third parties; our ability to recover costs on significant projects; the general economic conditions and competition in the markets and businesses in which we operate; our relationship with significant clients; the outcome of legal and administrative proceedings or governmental enquiries; uncertainties inherent in operating internationally; the timely delivery of vessels on order; the impact of laws and regulations; and operating hazards, including spills and environmental damage. Many of these factors are beyond our ability to control or predict. Other unknown or unpredictable factors could also have material adverse effects on our future results. Given these factors, you should not place undue reliance on the forwardlooking statements.