Subsea 7 - Major Shareholding Notification 2015

Subsea 7 S.A. Disclosure of Large Shareholding

Luxembourg - 13 November 2015 - Subsea 7 S.A. (Oslo

Børs: SUBC, ADR: SUBCY) (the Company) announces that,

on 11 November 2015, Siem Industries Inc. informed the

Company that following the Extraordinary General

Meeting of shareholders of Subsea 7 S.A. held on 27

November 2014 approving the cancellation of 19,626,664

of its common shares held in treasury resulting in the

reduction in the number of Subsea 7 S.A.'s issued

shares from 351,793,731 common shares to 332,167,067

common shares, the 69,731,931 voting rights then held

by Siem Industries Inc. in the Company increased from

19.82% to 20.99% of issued common shares thereby

crossing the 20% threshold provided for by

Luxembourg's Transparency Law of 11 January 2008 on

transparency requirements for issuers of securities.

On 1 October 2015, Subsea 7 S.A. cancelled an

additional 4,799,956 shares held in treasury and

reduced the number of issued common shares to

327,367,111 taking Siem Industries' ownership interest

for its 69,731,931 common shares of Subsea 7 S.A. to

21.30%.

A copy of the notification received from Siem

Industries is available on the Subsea 7 website

www.subsea7.com.

************************************************

Subsea 7 S.A. is a leading global contractor in seabed-

to-surface engineering, construction and services to

the offshore energy industry. We provide technical

solutions to enable the delivery of complex projects

in all water depths and challenging environments.

************************************************

Contact:

Isabel Green

Investor Relations Director

Subsea 7 S.A.

Tel +44 (0)20 8210 5568

AI assistant