Subsea 7 — Share Issue/Capital Change 2015

Oct 1, 2015

Subsea 7 S.A. cancels treasury shares

Luxembourg - 1 October 2015 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) (the Company) announced that in accordance with the delegation of authority given to the Board at the Extraordinary General Meeting of shareholders held on 27 November 2014, 4,799,956 Common Shares currently held in treasury, representing approximately 1.4% of the number of issued common shares, were duly cancelled. As a result the issued share capital of the Company has been reduced by USD 9,599,912. Following the cancellation, the Company no longer holds treasury shares.

1,526,200 shares are held in an employee benefit trust to support the Long-Term Incentive Plan and a further 253,482 shares are held in a separate employee benefit trust to support the restricted stock award plan. Total shares in issue, after cancellation of the treasury shares, are 327, 367, 111.

The updated Articles of Incorporation of the Company reflecting the reduction in the issued share capital are available on the Company's website.

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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. ***************************************

Contact: Isabel Green Investor Relations Director Subsea 7 S.A. Tel +44 (0)20 8210 5568 isabel.green@subsea7.com www.subsea7.com