Subsea 7 — Proxy Solicitation & Information Statement 2010

Mar 29, 2010

subsea 7

SUBSEA 7 INC.

REGISTERED OFFICE ADDRESS: P.O. BOX 309, UGLAND HOUSE, SOUTH CHURCH STREET

GEORGE TOWN, GRAND CAYMAN KY1-1104, CAYMAN ISLANDS

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS TO BE HELD AT 10:00 AM, MONDAY, 10 MAY 2010

To the Shareholders of SUBSEA 7 INC.:

Please accept notice that the Annual General Meeting of Shareholders of Subsea 7 Inc. (the "Company") will be held at 10:00 am Cayman Islands local time on Monday, 10 May 2010, at the Company's registered office located at the offices of Maples and Calder, Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands. The purpose of the meeting will be to:

1. Approve the Company's financial statements for the financial year ended 31 December 2009;
2. Re-appoint PricewaterhouseCoopers as the Company's Auditors for fiscal year 2010;
3. Grant authority to the Board of Directors to fix the remuneration to the Company's Auditors for 2009;
4. Re-elect Mel Fitzgerald as a Director of the Company;
5. Re-elect Allen L. Stevens as a Director of the Company;
6. Grant authority to the Board of Directors to fix the remuneration to the Company's Directors;
7. Approve and ratify the actions of the Directors and Officers of the Company;
8. Transact such other business as may be properly brought before the Meeting.

If you do not plan to attend the meeting, we request that each shareholder complete, date, sign and deliver the enclosed form of proxy to either of the following: (1) the offices of Subsea 7 Limited at Prospect Road, Arnhall Business Park, Westhill, Aberdeenshire AB32 6FE, Scotland, telefax no. +44.1224.527.000 or (2) the Company's offices at P.O. Box 309, George Town, Grand Cayman KY1-1104, CAYMAN ISLANDS, telefax no. +1.345.946.3346, no less than 24 hours prior to the stated time of the Annual General Meeting.

If you are uncertain as to any aspect of this Notice, Proxy Statement and form of Proxy, you should consult the Company Assistant Secretary or your stockbroker or other registered dealer in securities, bank manager, solicitor, professional accountant or other professional advisor.

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The Directors, whose names appear on page 1 of the Proxy Statement, accept responsibility for the information contained in this document. To the best of the knowledge and belief of the Directors who have taken reasonable care to ensure that such is the case, the information contained in this Notice and Proxy Statement is in accordance with the facts and does not omit anything likely to affect the import of such information.

29 March 2010

By order of the Board of Directors of
Subsea 7 Inc.