Subsea 7 — M&A Activity 2018

Apr 10, 2018

Subsea 7 awarded contract offshore UK

Luxembourg - 10 April 2018 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a sizeable⁽¹⁾ contract by BP, for the provision of EPCI flowline supply and subsea installation services for the Alligin subsea development project, located approximately 140 kilometres west of the Shetland Islands

The contract scope includes project management, engineering, procurement, construction and installation of a subsea tie-back to the existing Schiehallion area infrastructure.

Project management and engineering work will commence immediately at Subsea 7's office in Aberdeen. Offshore activities will take place in 2019 using Subsea 7's reel-lay vessel, Seven Oceans.

Jonathan Tame, Vice President UK & Canada, said: "In our competitive market, this award reflects BP's confidence in our collaborative approach to project management and safe, efficient and costeffective project delivery."

(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 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 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.