Luxembourg - 25 April 2023 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) refers
to the stock exchange release dated 19 April 2023 in which Subsea 7 S.A. (the
"Offeror" or "Subsea7") announced the final results of the voluntary exchange
offer (the "Offer") to acquire the remaining outstanding shares in Seaway 7 ASA
("Seaway7") in accordance with a 1 to 22 exchange ratio, i.e. 1 new Subsea7
share for every 22 Seaway7 shares, rounded down to the nearest whole Subsea7
share.

The Offeror hereby announces that settlement of the Offer has been made in
accordance with section 3.3.6 of the offer document dated 13 March 2023 prepared
by Subsea7 in connection with the Offer.

Seaway7 shareholders that have accepted the Offer will receive the fractional
cash consideration and consideration shares on their respective bank and VPS
accounts during the course of today.

The Offeror intends to conduct a compulsory acquisition of the remaining shares
in Seaway7 at a redemption price of NOK 6.15, as soon as practically possible. A
separate announcement will be issued when the compulsory acquisition has been
finally resolved in accordance with section 4-25 of the Norwegian Public Limited
Liability Companies Act. To allow remaining shareholders the possibility to
receive faster cash settlement, Subsea7 has placed an order with Fearnley
Securities AS to buy Seaway7 shares in the market until the end of trading on 26
April 2023 at a price equal to the redemption price, NOK 6.15. Seaway7
shareholders who wish to sell shares at such price should contact their broker.
Trades will be settled in accordance with the standard Euronext settlement
cycle.

Fearnley Securities AS is acting as receiving agent and Advokatfirmaet Wiersholm
AS is acting as legal advisor to Subsea7.

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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 20 8210 5568
ir@subsea7.com

Forward-Looking Statements: This announcement may contain 'forward-looking
statements' (within the meaning of the safe harbour provisions of the U.S.
Private Securities Litigation Reform Act of 1995). These statements relate to
our current expectations, beliefs, intentions, assumptions or strategies
regarding the future and are subject to known and unknown risks that could cause
actual results, performance or events to differ materially from those expressed
or implied in these statements. Forward-looking statements may be identified by
the use of words such as 'anticipate', 'believe', 'estimate', 'expect',
'future', 'goal', 'intend', 'likely' 'may', 'plan', 'project', 'seek', 'should',
'strategy' 'will', and similar expressions. The principal risks which could
affect future operations of the Group are described in the 'Risk Management'
section of the Group's Annual Report and Consolidated Financial Statements.
Factors that may cause actual and future results and trends to differ materially
from our forward-looking statements include (but are not limited to): (i) our
ability to deliver fixed price projects in accordance with client expectations
and within the parameters of our bids, and to avoid cost overruns