Subsea 7 - Share Issue/Capital Change 2022

Subsea 7 S.A. notice to investors

Luxembourg - 23 December 2022 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, the

"Company") today announced that, following the implementation of the Norwegian

Central Securities Depository Act, implementing the EU Central Securities

Depositories Regulation (CSDR) and the decision of the board of directors under

the authorisation given to it by the extraordinary general meeting of the

Company on 12 April 2022, the compulsory dematerialisation of all the existing

shares in the Company is now effective. All issued shares in the Company have

been converted into dematerialised shares and the Company's articles of

incorporation have been amended to remove the references to provisions that were

applicable until such conversion.

In the context of the dematerialisation of its shares, the Company has appointed

Verdipapirsentralen ASA (operating under the name of Euronext Securities Oslo),

as central securities depository within the meaning and for the purpose of the

EU Central Securities Depositories Regulation (CSDR).

No action is required from the Company's investors.

The updated coordinated articles of incorporation are available on Subsea7's

website.

*******************************************************************************

Subsea7 creates sustainable value by delivering the offshore energy transition

solutions the world needs.

Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI

222100AIF0CBCY80AH62.

*******************************************************************************

Contact:

Katherine Tonks

Investor Relations Director

Subsea 7 S.A.

Tel +44 (0)20 8210 5568

AI assistant