NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, OR IN ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW

Luxembourg – 12 September 2025 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, the Company) today published further information in relation to the extraordinary general meeting of shareholders of the Company to be held on 25 September 2025 (the EGM), the purpose of which is to consider the proposed combination between Subsea7 and Saipem.

In accordance with article 1025-10(1) of the Luxembourg law of 10 August 1915 on commercial companies, as amended (the Luxembourg Company Law), shareholders of Subsea7 who vote against the approval of the common merger plan at the EGM will have the right to dispose of their eligible shares for an adequate cash compensation (the Withdrawal Cash Compensation) under the conditions set out in the Luxembourg Company Law and which are summarised in the convening notice for the EGM. It is now confirmed that in accordance with the Luxembourg Company Law the Withdrawal Cash Compensation has been calculated as NOK 135.51 per share.

The withdrawal documentation including forms of withdrawal declaration, proxy for the exercise of the withdrawal right, instructions letter to financial intermediaries/VPS account operators and certificate of confirmations and instructions to DNB Bank ASA can be found on the Company’s website.

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Subsea7 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.

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

No Offer or Solicitation

This document is not an offer of merger consideration shares in the United States. Neither the merger consideration shares nor any other securities have been or will be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and neither the merger considerations shares nor any other securities may be offered, sold or delivered within or into the United States, except pursuant to a registration statement filed pursuant to the Securities Act or an applicable exemption from registration or in a transaction otherwise not subject to the Securities Act. This document must not be forwarded, distributed or sent, directly or indirectly, in whole or in part, in or into the United States. This document does not constitute an offer of or an invitation by or on behalf of, Saipem or Subsea7, or any other person, to purchase any securities.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. 
This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, at 09:00 CET on 12 September 2025