Subsea 7 - Major Shareholding Notification 2015

Subsea 7 S.A. Disclosure of Large Shareholding - Correction

Luxembourg - 08 May 2015 - Subsea 7 S.A. (Oslo

Børs: SUBC: the Company) announces that on 8 May

2015, Orbis Investment Management (Luxemburg) S.A.

informed the Company that the joint notification by

Orbis Holdings Limited and its subsidiary Orbis

Investment Management Limited to the Company of

22nd April 2015, that the aggregate holdings of

voting rights in the Company held via nominees by

funds managed by Orbis Investment Management

Limited as a result of purchases in the market

reached 16,615,934 shares representing 5.0023% of

the voting rights in the Company, had been done in

error.

Orbis furthermore notified the Company that no

obligation to notify the reaching or crossing of a

major interest had in fact been triggered in that

connection under the Luxembourg Transparency Law

(Luxembourg law of 11 January 2008 on transparency

requirements for issuers of securities, as

amended).

This corrects the announcement made by the Company

on 27 April 2015.

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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.

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Contact:

Isabel Green

Investor Relations Director

Subsea 7 S.A.

Tel +44 (0)20 8210 5568

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