Luxembourg - 28 April 2023 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) refers
to the stock exchange release dated 25 April 2023 where Subsea 7 S.A. (the
"Offeror" or "Subsea7") announced completion of the voluntary exchange offer
(the "Offer") to acquire all the outstanding shares in Seaway 7 ASA ("Seaway7")
not already held directly or indirectly by Subsea7. Following completion and
settlement of the Offer and subsequent market trades, Subsea7 holds, directly
and indirectly, a total of 868,566,999 shares in Seaway7, equivalent to
approximately 99.48% of the outstanding shares and votes in Seaway7.

Subsea7 has resolved, effective from after close of trading on Euronext Growth
Oslo today, 28 April 2023, to carry out a compulsory acquisition of all
remaining shares in Seaway7 not owned directly or indirectly by Subsea7,
pursuant to section 4-25 of the Norwegian Public Limited Liability Companies
Act.

The rights and ownership of the remaining shares are, as of the date hereof,
automatically transferred to the Offeror, pursuant to section 4-25 of the
Norwegian Public Limited Liability Companies Act. Accordingly, the Offeror is,
as of the date hereof, Seaway7's sole ultimate shareholder, holding, directly
and indirectly, 100% of the shares and voting rights in Seaway7.

The offered redemption price in the compulsory acquisition is NOK 6.15 per share
in Seaway7. The aggregate redemption amount has been placed on a separate bank
account in accordance with Section 4-25 of the Norwegian Public Limited
Liability Companies Act.

A notice regarding the compulsory acquisition will be sent to all former Seaway7
shareholders that are subject to the compulsory acquisition and whose addresses
are known. In addition, the compulsory acquisition will be announced in the
electronic notice service of the Norwegian Register of Business Enterprises.

Any objections to, or rejection of, the offered redemption price must be made at
the latest by 23:59 (CEST) on 4 July 2023. Former shareholders of Seaway7 who do
not object to, or reject, the offered redemption price within this deadline will
be deemed to have accepted the offered redemption price. Settlement of the
offered redemption price to non-objecting shareholders will take place on or
about 10 July 2023.

As a consequence of the compulsory acquisition, Subsea7 will pursue a delisting
of Seaway7's shares from Euronext Growth Oslo. A separate stock exchange
announcement will be published regarding such delisting.

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