Subsea 7 - Major Shareholding Notification 2015

Disclosure of large shareholdings

We hereby notify you that Orbis Funds (see below for

beneficial owner breakdown) aggregate holdings in

Subsea 7 S.A. exceeded 5% earlier today. The

reported details are:

Issuer: Subsea 7 S.A.

Issuer ID: SUBC

Trigger Event: Market Purchase of shares by

Investment Manager on behalf of Beneficial Owners

(related parties).

Date Threshold Crossed: 22.04.2015

Total No. of Shares Notified: 16.615,934

Percentage of Shares/Voting Rights Notified: 5.0023%

Beneficial Owner and Shares Held:

Beneficial Owner No. of Shares

Orbis Global Equity Fund

(Australia Registered) 2,693,269

Orbis International Equity

Fund L.P 44,414

Orbis Institutional Global

Equity Fund 2,573,575

Orbis Global Equity Fund 4,996,535

Orbis Optimal Global

Fund, L.P. 26,392

Orbis Optimal SA Fund 1,494,693

Orbis SICAV Europe Equity Fund 2,166,778

Orbis SICAV Global Equity Fund 1,740,481

Orbis SICAV International

Equity Fund 868,753

Orbis OEIC Global Equity Fund 11,044

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