Subsea 7 — Major Shareholding Notification 2015

May 8, 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.

*************************************** 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 isabel.green@subsea7.com 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 Company and the factors which could affect the actual results are described but not limited to those in the 'Risk factors' section in the Company's Annual Report and Consolidated Financial Statements for the year ended 31 December 2014. 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 enguiries; uncertainties inherent in operating internationally; the timely delivery of ships on order and the timely completion of ship conversion programmes; 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.

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