Luxembourg – 25 May 2021 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announces mandatory notification of the following share transaction by a primary insider:
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Siem Industries S.A., P.O. Box 309, South Church Street, George Town, Grand Cayman, KY1-1104, Cayman Islands |
| 2 | Reason for the notification | |
| a) | Position/status | Chairman of Siem Industries S.A., Mr. Kristian Siem, is the Chairman of the Issuer |
| b) | Initial notification/ Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Subsea 7 S.A. |
| b) | LEI | 222100AIF0CBCY80AH62 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code | Shares LU0075646355 |
| b) | Nature of the transaction | Purchase of shares |
| c) | Price(s) and volume(s) | Volume: 306,000 Price: NOK 81.08 |
| d) | Aggregated information | Volume: 306,000 Price: NOK 81.08 |
| e) | Date of the transaction | 2021-05-21 |
| f) | Place of the transaction | Oslo Børs |
Further information
Siem Industries S.A. which is represented on the board of Subsea 7 S.A. by Kristian Siem announced that on 21 May 2021, it purchased 306,000 shares in Subsea 7 S.A. (OSE symbol SUBC), at a price of NOK81.08 per share following the part exercise of an existing OTC option structure, representing a sold Put.
Following this transaction, the aggregate number of shares held by Siem Industries SA. in Subsea 7 S.A. is 69,341,377.
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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 20 8210 5568
katherine.tonks@subsea7.com
www.subsea7.com
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