Subsea 7 — Share Issue/Capital Change 2019

May 2, 2019

Subsea 7 S.A. cancels treasury shares

Subsea 7 S.A. cancels treasury shares

Luxembourg - 2 May 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 at the Extraordinary General Meeting of

shareholders held on 27 November 2014, 15,000,000 Common Shares currently held

in treasury, representing 4.58% 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 30 million.

Following the cancellation, Subsea 7 S.A. held 2,445,718 treasury shares

representing 0.78% of the total number of issued shares. Total shares in issue,

including treasury shares, were 312,367,111.

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

isabel.green@subsea7.com

www.subsea7.com

Forward-Looking Statements: Certain statements made in this announcement may

include 'forward-looking statements'. These statements may be identified by the

use of words like 'anticipate', 'believe', 'could', 'estimate', 'expect',

'forecast', 'intend', 'may', 'might', 'plan', 'predict', 'project', 'scheduled',

'seek', 'should', 'will', and similar expressions. The forward-looking

statements reflect our current views and are subject to risks, uncertainties and

assumptions. The principal risks and uncertainties which could impact the Group

and the factors which could affect the actual results are described but not

limited to those in the 'Risk Management' section in the Group's Annual Report

and Consolidated Financial Statements 2018. These factors, and others which are

discussed in our public announcements, are among those that may cause actual and

future results and trends to differ materially from our forward-looking

statements: actions by regulatory authorities or other third parties; our

ability to recover costs on significant projects; the general economic

conditions and competition in the markets and businesses in which we operate;

our relationship with significant clients; the outcome of legal and

administrative proceedings or governmental enquiries; uncertainties inherent in

operating internationally; the timely delivery of vessels on order; the impact

of laws and regulations; and operating hazards, including spills and

environmental damage. Many of these factors are beyond our ability to control or

predict. Other unknown or unpredictable factors could also have material adverse

effects on our future results. Given these factors, you should not place undue

reliance on the forward-looking statements.