Subsea 7 — M&A Activity 2018

Aug 3, 2018

Subsea 7 awarded contract offshore UK

Luxembourg - 3 August 2018 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a sizeable⁽¹⁾ contract by Nexen as part of the Buzzard Phase 2 Project, located approximately 55 kilometres off the north-east coast of Scotland.

Subsea 7's contract scope includes project management, engineering, procurement, construction and installation of a 5km Pipeline Bundle along with associated well and platform tie-ins, and provision of a heavy lift vessel for transport and installation of a new topside module.

Project management and detailed engineering has commenced at Subsea 7's office in Aberdeen. The Pipeline Bundle will be fabricated at Subsea 7's Wester site near Wick, with technical support from Subsea 7's specialist Pipeline Group in Glasgow. Project management and engineering for the heavy lift work scope will be conducted from Seaway Heavy Lifting's office in Zoetermeer in the Netherlands.

The offshore activities will mainly take place in 2020.

Jonathan Tame, Subsea 7 Vice President UK & Canada, said: "Subsea 7 has a long established reputation of close collaboration with clients and supply chain partners to seek out innovative and value-adding ways of working. This award represents the ideal opportunity to demonstrate this and to continue our long history of successful project delivery to Nexen."

(1) Subsea 7 defines a sizeable contract as being between USD 50 million and USD 150 million.

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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. Subsea 7 is listed on the Oslo Bors (SUBC), ISIN LU0075646355. ***************************************

Contact for investment community enquiries: Isabel Green Investor Relations Director Tel +44 (0)20 8210 5568 isabel.green@subsea7.com www.subsea7.com

Contact for media enquiries: Michelle Wainwright Communications Manager, UK & Canada Tel +44 1224 526570 Mobile +44 (0)7876778370 michelle.wainwright@subsea7.com www.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 uncertain actual results are described but not limited to those in the 'Risk Management' section in the Group's Annual Report and Consolidated Financial Statements 2017. 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 forward-looking statements.