Luxembourg  - 2 March 2023 -  Subsea 7 S.A. (Oslo  Børs: SUBC, ADR: SUBCY) today
announced that, marking confidence in the financial position and outlook for the
Group,  the  Board  of  Directors  will  recommend to shareholders at the Annual
General  Meeting  ("AGM")  that  a  dividend  of  NOK  4.00 per  share  be paid,
equivalent to a total dividend of approximately $110 million.

The AGM is scheduled to take place at 15:00 (local time) on 18 April 2023 at the
Company's registered office, 412F, route d'Esch, L-1471 Luxembourg.

An  Extraordinary General Meeting ("EGM") will  also take place at the Company's
registered  office  immediately  after  the  AGM  on  18 April  2023 in order to
consider  a renewal of the authority of the Board of Directors to repurchase and
subsequently  cancel the Company's shares and also  to consider a renewal of the
Company's authorised share capital.

The  proposed agenda and the notice to convene the AGM and EGM will be published
and  distributed  to  eligible  shareholders  on  17 March  2023. The holders of
American  Depositary Receipts ("ADRs") on record at  the close of business on 6
March  2023 and the holders of common shares  on record at the close of business
on  4 April 2023 will be entitled to vote.  The deadline for submission of votes
for holders of ADRs is 6 April 2023 and for holders of common shares is 12 April
2023.

If  the AGM approves the  proposed payment of a  dividend of NOK 4.00 per share,
the last day the shares will be traded including the right to receive a dividend
will be 19 April 2023. The first trading date ex-dividend will be 20 April 2023
and  holders of common shares and ADRs on record at the close of business on 21
April 2023 will be entitled to the dividend. The date of payment of the dividend
will be 28 April 2023 for holders of common shares and ADRs.

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Subsea  7 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.

Subsea 7 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
katherine.tonks@subsea7.com