Subsea 7

Regulatory Filings • Dec 12, 2024

Subsea7 awarded contract in the US Gulf of Mexico

Luxembourg - 11 December 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a substantial¹ contract for a subsea tieback development in the US Gulf of Mexico.

Subsea7's scope of work includes the engineering, procurement, construction, and installation (EPCI) of subsea equipment, including structures, umbilicals, production risers, and flowlines. Project management and engineering work will start immediately at Subsea7's office in Houston, Texas, with offshore activities expected to begin in 2026.

Craig Broussard, Senior Vice President of Subsea7 Gulf of Mexico, said, "We are proud to be part of this high-pressure deepwater subsea tieback development. This project builds on our strong track record of successfully delivering oil and gas projects in the deepwater Gulf of Mexico."

(1) Subsea7 defines a substantial contract as being between \$150 million and \$300 million.

****************************************************************************************************************************************************************************** Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, reating sustainable value by being the industry's partner and employer of choice in delivering the efficient offshore solutions the world needs

Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62. ******************************************************************************************************************************************************************************

Contact for investment community enquiries:

Katherine Tonks Investor Relations Director Tel +44 20 8210 5568 ir@subsea7.com

Contact for media enquiries: Ashley Shearer Communications Manager

Tel +1-713-300-6792 ashley.shearer@subsea7.com

Forward-Looking Statements: This document may contain forward-looking statements' (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, assumptions or strategies regarding the future and are subject to known risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements may be identified by the use of words such as 'anticipate', 'believe', 'expect', 'future', 'goal', 'intend', 'likely' may', 'plan', 'project', 'seek', 'should', 'strategy' 'will', and similar expressions. The principal risks which ould affect future operations of the Risk Management' section of the Group's Annual Report and Consolidated Financial Statements. Factors that may cause and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordans and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (ii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterionship with, any significant clients; (vii) the outcome of legal proceedings or governmental inquiries; (x) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embarges in foreign governmental requlations, corruption and currency fluctuations (x) the effects of a natural disaster, (xi) liability to third parties for the failure of our joint venture partners to fulfil thanges in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing (xii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; ( x in ) equipment or mechanical failures, which could increase costs, impair revenue and result in penaties for failure to meet project completion requirements; (xv) the timely confer and the timely completion of ship conversion programmes: (xvi) our ability to keep pace with technological changes and the impact of potential information technology. cyber security or data security breaches; (xvi) global availity at scale and commercially viability of suitable alternative vessel fuels; and (xvii) the effectiveness of our disclosure control over financial reporting. Many of these factors are beyond our ability to control or predict. Given these undue not place undue reliance on the forward-looking statements. Each forwardlooking statement speaks only as of this document. We undertake no oblicy or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This information is inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 11 December 2024 at 23:25 CET.