Subsea 7 - Share Issue/Capital Change 2019

Subsea 7 S.A. cancels treasury shares

Luxembourg - 12 June 2019 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, ISIN

LU0075646355) (the Company) announced that in accordance with the delegation of

authority given to the Board, a total of 7,000,000 Common Shares currently held

in treasury, representing 2.24% of the number of issued common shares, were duly

cancelled. 1,080,718 shares were cancelled in accordance with the delegation of

authority given to the Board at the Extraordinary General Meeting of

shareholders held on 27 November 2014 and 5,919,282 shares were cancelled in

accordance with the delegation of authority given to the Board at the

Extraordinary General Meeting of shareholders held on 17 April 2019. As a result

of the cancellation, the issued share capital of the Company has been reduced by

USD 14 million.

Following the cancellation, Subsea 7 S.A. held 1,855,718 treasury shares

representing 0.61% of the total number of issued shares. Total shares in issue,

including treasury shares, were 305,367,111.

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 is a global leader in the delivery of offshore projects and services

for the evolving energy industry. We create sustainable

value by being the industry's partner and employer of choice in delivering the

efficient offshore solutions the world needs.

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Contact for investment community enquiries:

Isabel Green

Investor Relations Director Tel +44 20 8210 5568

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