Subsea 7 S.A. cancels treasury shares

02 Mar 2023 18:08 CET

Luxembourg - 2 March 2023 - 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 14 April 2021, the Board has, as previously announced,
resolved to cancel 5,681,967 shares held in treasury, representing approximately
1.9% of the number of issued common shares. The cancellation has now been
effected and, as a result, the issued share capital of the Company has been
reduced by USD 11,363,934 to USD 588,636,066 represented by 294,318,033 common
shares.

Following the cancellation, Subsea 7 S.A. holds 4,112,300 treasury shares
representing approximately 1.4% of the total number of issued shares.

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

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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.

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Contact for investment community enquiries:

Katherine Tonks
Investor Relations Director
Tel +44 20 8210 5568
ir@subsea7.com

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.

More information:
Access the news on Oslo Bors NewsWeb site

584195_SUBC Treasury Share Cancellation.pdf