Subsea 7

Regulatory Filings • Oct 9, 2024

Subsea7 awarded contract in the US Gulf of Mexico

Luxembourg – 9 October 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announced today the award of a sizeable 1 contract for a subsea tieback development in the US Gulf of Mexico.

Subsea7 will be responsible for transporting and installing the flowline, umbilical, and associated subsea components for the tieback. Project management and engineering work will begin immediately at Subsea7's office in Houston, Texas, and offshore activity is expected to start in 2025.

Craig Broussard, Vice President for Subsea7 Gulf of Mexico, said: "Our strategy of early engagement and close collaboration with clients allows us to approach projects with an open mind and a deep understanding of client needs. This helps us explore innovative, cost-effective ways to deliver optimized energy solutions."

1. Subsea7 defines a sizeable contract as being between \$50 million and \$150 million

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Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating 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: Ashlev 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', 'should', 'strategy' 'will', and similar expressions. The principal risks which operations of the Group are described in the 'Risk Management' section of the Group's Annual Report and Consolidated Financial Statements. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limity to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables and collect the related revenue; (ii) our ability to recover costs on significant projects; (iv) and qas 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 relationship with, any significant clients; (vii) the outcome of legal proceedings or governmental inquiries; (ix) uncertaincy in operating internationally, including economic political instability, boycotts or embarges, labour unrest, changes in foreign governmental requlations, corruption and currency fluctuations; (x) the effects of a pandemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to full changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing clii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; ( xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in peralties for failure to meet project completion requirements: (xv) 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 availability at scale and commercially viability of suitable alternative vessel fuels; and (xvii) the effectiveness of our disclosure controls and internal control over financial reporting. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not plance on the forward-looking statements. Each forwardlooking statement speaks only as of this document. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This information is considered to be 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 9 October 2024 at 18:20 CET.