Subsea 7 — Major Shareholding Notification 2011

Jan 12, 2011

Disclosure of large shareholdings - Subsea 7 SA (formerly Acergy AS)

Capital Research and Management Company ("CRMC") is a

U.S.-based investment adviser that manages the

American Funds family of mutual funds. CRMC does not

own shares of Subsea 7 SA for its own account.

Rather, the shares reported are owned by several

mutual funds managed by CRMC.

Pursuant to the Norwegian Securities Trading Act

Section 3-2 and Regulations of 18 December 2002, we

hereby disclose the following information:

Please note that this Notifications is not being

filed due to disposition of shares, Instead, the

recent increase in issued share capital has caused

our relative shareholding to decrease below the next

reportable threshold. On 10 January 2011 shares

amounted to 3,8176%. Please see attached Schedule A

for the details.

See attachment on [http://www.newsweb.no]