Subsea 7 — Major Shareholding Notification 2011

Jan 13, 2011

Subsea 7 S.A. - Notification of Major Interest

Luxembourg - January 13, 2011 - Subsea 7 S.A.

(the "Company") (NASDAQ-GS: SUBC; Oslo Børs: SUBC).

Pursuant to the Luxembourg law of January 11, 2008 on

transparency requirements the Company has received

the following notifications as a result of Completion

of the Combination between Acergy S.A. and Subsea 7

Inc. which occurred on January 7, 2011.

Notification 1:

Full names of person(s) subject to notification

obligation: Siem Industries Inc.

Reason for the notification: an acquisition or

disposal of voting rights.

Threshold(s) that is/are crossed or reached: 15%

Situation previous to the triggering transaction:

Number of voting rights: Nil

Resulting situation after the triggering transaction:

Number of voting rights:

Direct: 69,681,932; Indirect: Nil

% of voting rights:

Direct: 19.80%; Indirect: Nil

Financial Instruments total: Nil.

Chain of controlled undertaking through which the

voting rights and/or the financial instruments are

effectively held: N/A

Notification 2:

Full names of person(s) subject to notification

obligation: Folketrygdfondet

Reason for the notification: an acquisition or

disposal of voting rights and an event changing the

breakdown of voting rights.

Threshold(s) that is/are crossed or reached: 10%

Situation previous to the triggering transaction:

Number of voting rights:

21,267,423

Resulting situation after the triggering transaction:

Number of voting rights:

Direct: 32,284,762; Indirect: Nil

% of voting rights:

Direct: 9.2%; Indirect: Nil

Financial Instruments total: Nil.

Chain of controlled undertaking through which the

voting rights and/or the financial instruments are

effectively held: N/A

Notification 3:

Full names of person(s) subject to notification

obligation: Capital Research and Management Company

Reason for the notification: an event changing the

breakdown of voting rights.

Threshold(s) that is/are crossed or reached: 5%

Situation previous to the triggering transaction:

Number of voting rights:

13,430,000

Resulting situation after the triggering transaction:

Number of voting rights:

Direct: Nil; Indirect: 13,430,000

% of voting rights:

Direct: Nil; Indirect: 3.82%

Financial Instruments total: Nil.

Chain of controlled undertaking through which the

voting rights and/or the financial instruments are

effectively held: N/A

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Subsea 7 S.A. is a seabed-to-surface engineering,

construction and services contractor to the offshore

energy industry worldwide. We provide integrated

services, and we plan, design and deliver complex

projects in harsh and challenging environments.

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Contact:

Karen Menzel

Subsea 7 S.A.

+44 (0)20 8210 5568

karen.menzel@subsea7.com

www.subsea7.com

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please contact: karen.menzel@subsea7.com