Subsea 7 — M&A Activity 2019

Nov 28, 2019

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 costeffective 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. ******************************************************************************************************************************************************************************

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: Julie Taylor Communications Manager Tel +44(0)12 2452 6270 Julie.taylor@subsea7.com www.subsea7.com

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