Seaway7 awarded offshore wind contract in UK

29 Oct 2024 21:04 CET

Luxembourg - 29 October 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today
announced the award to Seaway7, part of the Subsea7 Group, of a substantial(1)
contract by Ørsted for the transport and installation of the inter-array cables
of the Hornsea 3 offshore wind project located in the UK sector of the North
Sea.

Seaway7's scope of work covers the transportation and installation (T&I) of
192 66kV inter-array cables, measuring approximately 500 kilometres in length,
with offshore activities scheduled to commence in 2026.

Stuart Fitzgerald, CEO Seaway7, said: "With this award we look forward to
continuing our long-standing relationship with Ørsted. The Hornsea 3 project
represents our seventh offshore wind project together, including the inter-array
cables on the two previous phases of the Hornsea Wind Zone, Hornsea 1 and
Hornsea 2. The award adds to our backlog and leading position in the UK,
Europe's largest offshore wind market.

((1) )Subsea7 defines a substantial contract as being between USD 150 million
and USD 300 million.

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Subsea7 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.

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 (0)20 8210 5568
ir@subsea7.com

Contact for media enquiries:
Nikki Beales
Communications Manager, Seaway7
Tel +44 (0)7843895292
nikki.beales@seaway7.com
www.seaway7.com

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Private Securities Litigation Reform Act of 1995). These statements relate to
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Factors that may cause actual and future results and trends to differ materially
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and within the parameters of our bids, and to avoid cost overruns; (ii) our
ability to collect receivables, negotiate variation orders and collect the
related revenue; (iii) our ability to recover costs on significant projects;
(iv) capital expenditure by oil and gas companies, which is affected by
fluctuations in the price of, and demand for, crude oil and natural gas; (v)
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commercially viability of suitable alternative vessel fuels; and (xviii) the
effectiveness of our disclosure controls and procedures and internal control
over financial reporting. Many of these factors are beyond our ability to
control or predict. Given these uncertainties, you should not place undue
reliance on the forward-looking statements. Each forward-looking statement
speaks only as of the date of this document. We undertake no obligation to
update publicly or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
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.
This stock exchange release was published by Katherine Tonks, Investor
Relations, Subsea7, on 29 October 2024 at 21:05 CET.

More information:
Access the news on Oslo Bors NewsWeb site

630667_SUBC Hornsea 3 Cables.pdf