Subsea 7

Regulatory Filings • Aug 16, 2024

Subsea7 awarded contract on Gulf of Mexico project

Luxembourg – 16 August 2024 - Subsea7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a sizeable(1) contract in the US Gulf of Mexico,

The scope of work includes engineering, procurement, construction, and offshore installation of a water injection flowline, hull piping, and associated subsea infrastructure.

Project management and engineering work will start immediately at Subsea7's office in Houston, Texas, and offshore activity is expected to begin in 2026.

(1) Subsea 7 defines a sizeable contract as being between USD 50 million and USD 150 million.

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Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, and e 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.

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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 +17133006792 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, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance on 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', 'intend', 'ikely' 'may', 'project', 'seek', 'should', 'strategy ' will', and similar expressions. The principal risks which could affect future operations of 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 in the top: (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) 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 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 deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent internationally, including economic, political and social instability, bovcotts or embroges, labour unrest, changes in foreign governmental requlations; (x) the effects of a pandemic or epidemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulatory measures addressing dimate change); (xii) operating hazards, including soills environmental damage personal or property damage and business interruptions caused by adverse weather: (xiv) equipment on mechanical failures, which could increase costs, in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely conversion programmes; (xvi) our ability to keep pace with technological changes and the 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 disclosures and internal control over financial reporting. Many of these factors are beyond or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statement speaks only as of the date of this date 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 16 August 2024 at 08:15 CET.