Subsea 7 S.A. Extraordinary General Meeting

25 Sep 2025 15:57 CEST

NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, OR IN ANY OTHER JURISDICTION
IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW

Luxembourg - 25 September 2025 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, the
Company) today announced that, at the extraordinary general meeting of
shareholders on 25 September 2025, the purpose of which was to approve the
proposed combination between Subsea7 and Saipem all resolutions were approved.

As well as the approval of the proposed combination between Subsea7 and Saipem,
shareholders approved the payment of both proposed dividends: (i) a dividend in
the amount of EUR450 million, equating to approximately NOK 18.00 per share
in
accordance with the terms of the merger with Saipem, conditional on completion
of the merger and expected to be paid immediately before the proposed merger
effective date; and (ii) a special dividend of EUR105 million, equating
to
approximately NOK 4.15 per share. This distribution is related to a permitted
business divestment in accordance with the merger agreement with Saipem. The
distribution is expected to be paid after closing of the relevant transaction or
(if earlier) immediately before the proposed merger effective date.

The key dates relating to both proposed dividends shall be published as soon as
these dates are fixed.

The minutes of the extraordinary general meeting which detail the resolutions
passed and the result of the votes cast in relation to each resolution are
attached hereto. The minutes can also be found on the Company's website.

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Subsea7 is a global leader in the delivery of offshore projects and services for
the evolving energy industry, creating 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 20 8210 5568
ir@subsea7.com

No Offer or Solicitation

This document is not an offer of merger consideration shares in the United
States. Neither the merger consideration shares nor any other securities have
been or will be registered under the U.S. Securities Act of 1933, as amended
(the "Securities Act"), and neither the merger considerations shares nor any
other securities may be offered, sold or delivered within or into the United
States, except pursuant to a registration statement filed pursuant to the
Securities Act or an applicable exemption from registration or in a transaction
otherwise not subject to the Securities Act. This document must not be
forwarded, distributed or sent, directly or indirectly, in whole or in part, in
or into the United States. This document does not constitute an offer of or an
invitation by or on behalf of, Saipem or Subsea7, or any other person, to
purchase any securities.

This information 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 25 September 2025 at 16:00 CET

More information:
Access the news on Oslo Bors NewsWeb site

656164_SUBC EGM Merger Approval.pdf
656164_SUBC EGM Minutes.pdf