Derivatives: Anticipated adjustment in Subsea 7 due to extraordinary dividend (36/12)

The following information is based on a press release from Subsea 7 S.A. (Subsea 7) published on May 16, 2012 and may be subject to change.

The board of Subsea 7 has proposed an extraordinary dividend of USD 0.60 per share. The dividend is subject to approval at the Annual General Meeting (AGM) to be held on June 22, 2012. The scheduled Ex-date is June 26, 2012. Provided that the AGM approves the proposal, NASDAQ OMX Derivatives Markets will carry out a re-calculation of options, forwards and futures in Subsea 7 (SUBCN).