Luxembourg – 18 April 2023 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, the Company) today announced that, at the 2023 annual general meeting of shareholders (AGM) on 18 April 2023, all resolutions were approved.

In addition, at the subsequent extraordinary general meeting of shareholders (EGM) on the same day, both proposed resolutions, which related to (i) to the authority of the Board of Directors to repurchase and, as the case may be, to subsequently cancel Company shares and reduce the issued share capital accordingly and (ii) the renewal of authorisation for the Board of Directors to issue new shares and to limit or suppress preferential subscription rights, for up to 10% of the issued share capital, were approved.

At the AGM, the payment of a special dividend of NOK 4.00 per common share was approved. 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.

The minutes of both the AGM and EGM which detail the resolutions passed and the result of the votes cast in relation to each resolution, the Subsea 7 S.A. Remuneration Policy and the changes to the Company’s articles of association are attached hereto. The minutes can also be found on the Company’s website.

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Subsea7 creates sustainable value by delivering the offshore energy transition 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