Subsea 7 — M&A Activity 2020

Jun 5, 2020

Subsea 7 contract offshore Netherlands confirmed

Subsea 7 contract offshore Netherlands confirmed

Luxembourg - 05 June 2020 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today

confirmed the award of a substantial((1)) contract by Vattenfall for the

Hollandse Kust Zuid (HKZ) 1-4 offshore wind farm project. As previously

announced on 23 April 2020, the contract was subject to the client's final

investment decision, which has now occurred. The contract will be recorded in

backlog in the second quarter.

The contracted work scope includes the transport and installation of

approximately 140 wind turbine monopile foundations and 315km of 66kV inner

array grid cables. Offshore installation is scheduled for execution in 2021 and

2022 using Seaway 7's heavy lift, cable lay and support vessels.

((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:

Katherine Tonks

Investor Relations Director

Tel +44 (0)20 8210 5568

katherine.tonks@subsea7.com

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

Contact for media enquiries:

Jacqueline Reukema

Communication Advisor

Tel +31 79 3634 512

jacqueline.reukema@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 2019. 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.