Luxembourg - 19 April 2023 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) refers
to the offer document dated 13 March 2023 (the "Offer Document") for the
voluntary exchange offer (the "Offer") by Subsea 7 S.A. (the "Offeror" or
"Subsea7") to acquire all shares in Seaway 7 ASA ("Seaway7").

The offer period for the Offer expired at 16.30 hours (CEST) on 14 April 2023.

Following final verification of acceptances, the Offeror has received
acceptances under the Offer for a total of 31,591,473 Seaway7 shares, equivalent
to 3.62% of the issued share capital and votes in Seaway7. The Offeror will
following completion of the Offer own 97.56% of the issued share capital and
votes in Seaway7.

The Offeror expects to close the Offer and arrange for settlement towards
shareholders in Seaway7 that have accepted the Offer on or about 24 April 2023.
The Offeror intends to complete a compulsory acquisition of the remaining shares
in Seaway7 shortly thereafter.

Separate announcements will be issued when the Offer has been settled and when
the compulsory acquisition has been finally resolved.

For more information about the settlement, please refer to the Offer Document
dated 13 March 2023, prepared by the Offeror in connection with the Offer. The
Offer Document is available, subject to regulatory restrictions in certain
jurisdictions, at the website of Fearnley Securities
(https://research.fearnleysecurities.no/transactions/).

Fearnley Securities AS is acting as receiving agent and Advokatfirmaet Wiersholm
AS is acting as legal advisor to Subsea7. Wikborg Rein Advokatfirma AS is acting
as legal advisor to Seaway7.

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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