Subsea 7 - Major Shareholding Notification 2016

Subsea 7 S.A. Notification of major holdings

Luxembourg - 29 November 2016 - Subsea 7 S.A. (Oslo B

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

on 28 November 2016, Orbis Allan Gray Limited and

Orbis Holdings Limited jointly informed the Company

that on 24 November 2016 the total number of voting

rights in the Company (attached to shares or through

financial instruments) held by Orbis Allan Gray

Limited and Orbis Holdings Limited reached 16,363,693

shares representing 4.99% of the voting rights in the

Company, thereby crossing below the 5% threshold

provided for by Luxembourg's Transparency Law of 11

January 2008 on transparency requirements for issuers

of securities.

The 16,363,693 voting rights in the Company held by

Orbis Allan Gray Limited and Orbis Holdings Limited

were all attached to shares.

A copy of the notification received from Orbis Allan

Gray Limited and Orbis Holdings Limited is available on

on the Subsea 7 website www.subsea7.com.

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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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