Subsea7 completion of the acquisition of 187,889,551 shares in Seaway7

14 Mar 2023 15:25 CET

Luxembourg - 14 March 2023 - Subsea 7 S.A. ("Subsea7") (Oslo Børs: SUBC, ADR:
SUBCY) today announced that it has completed the acquisition of 187,889,551
shares in Seaway 7 ASA ("Seaway7"), corresponding to 21.52% of Seaway7's issued
and outstanding share capital, from Songa Capital AS, Lotus Marine AS and West
Coast Invest AS. Following completion of the acquisition Subsea7 holds 93.94% of
the issued and outstanding share capital of Seaway7.

As consideration, Songa Capital AS, Lotus Marine AS and West Coast Invest AS
have received 1 new Subsea7 share for every 22 Seaway7 shares, in total
8,540,433 new shares (the "Consideration Shares") corresponding to approximately
2.90% of the current issued share capital of Subsea7.

The Consideration Shares have the same rights as the existing Subsea7 shares but
are not eligible for the proposed NOK 4.00 per share dividend tabled for
approval at the forthcoming annual general meeting of Subsea7 on 18 April 2023
(the "Annual Dividend"). The Consideration Shares have thus been issued on a
separate ISIN and will not be listed and tradable on the Oslo Stock Exchange
until the Consideration Shares have been transferred to the ordinary ISIN of the
Subsea7 shares following the record date for the Annual Dividend, scheduled for
21 April 2023.

Following the issuance of the Consideration Shares, Subsea7 has an issued share
capital of USD 605,716,932 represented by 302,858,466 shares, each with a
nominal value of USD 2.00.

As announced on 13 March 2023 Subsea7 has launched a voluntary offer (the
"Offer") for the remaining outstanding shares in Seaway7. For further details of
the Offer, see the stock exchange release published on Seaway7's ticker (SEAW7)
on 13 March 2023.

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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 subject to the disclosure requirements pursuant to Section
4.8.4.4 (3) of the continuing obligations for listed companies and Section 5-12
in the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

585215_SUBC Seaway7 share purchase.pdf