Subsea 7 — M&A Activity 2019

Nov 28, 2019

Subsea 7 awarded contract offshore Australia

Subsea 7 awarded contract offshore Australia

Luxembourg - 28 November 2019 - Subsea 7 S.A. (Oslo Børs: SUBC; the Company)

today confirmed a substantial((1)) contract award by Woodside for the execution

of phase 2 of the Julimar-Brunello Project. This contract was awarded to Subsea

7 earlier this year, subject to the final investment decision of the Julimar-

Brunello joint venture participants (Woodside and KUFPEC), which has now

occurred.

The Julimar field is located approximately 200 km offshore North Western

Australia. The full scope of work will be to design, procure, install and

commission a 22 km 18" Corrosion Resistant Alloy (CRA) gas transmission flowline

and an umbilical system.

The offshore activities will be performed in 2021 using Subsea 7's reel-lay and

heavy construction vessels.

Andy Woolgar, Subsea 7 Vice President Australia and New Zealand, said: "This

contract with Woodside reflects what can be achieved with strong collaboration

and early engagement. Our solution demonstrates the advantages of having a full

range of installation and pipelay capabilities in Australia and illustrates how

Subsea 7's global technology portfolio allows us to deliver cost-effective

solutions to our clients around the world."

(1)  Subsea 7 defines a substantial contract as being between USD 150

million and USD 300 million.

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Subsea 7 is a global leader in the delivery of offshore projects and services

for the evolving energy industry, creating sustainable value by being the

industry's partner and employer of choice in delivering the efficient offshore

solutions the world needs.

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

222100AIF0CBCY80AH62.

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Contact for investment community enquiries:

Isabel Green

Investor Relations Director

Tel +44 (0)20 8210 5568

isabel.green@subsea7.com

www.subsea7.com (http://www.subsea7.com)

Contact for media enquiries:

Julie Taylor

Communications Manager

Tel +44(0)12 2452 6270

Julie.taylor@subsea7.com

www.subsea7.com (http://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 2018. 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.