Luxembourg – 17 April 2019 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, ISIN LU0075646355, the Company) today announced that at the 2019 Annual General Meeting of shareholders (the “AGM”) on 17 April 2019, all resolutions were approved by the general meeting.

In addition, at the Extraordinary General Meeting of shareholders (the “EGM”) which took place on 17 April 2019 after the AGM, the sole resolution relating to the authority of the Board of Directors to repurchase and, as the case may be, subsequently to cancel Company shares and reduce the issued share capital accordingly, was also approved by the general meeting.

At the AGM, the payment of a special dividend of NOK 1.50 per common share was approved. The last day the shares will be traded including the right to receive a dividend will be 24 April 2019 and holders of common shares and ADRs on record at the close of business on 26 April 2019 will be entitled to the dividend. The first trading date ex-dividend will be 25 April 2019. The date of payment of the dividend will be 3 May 2019. Due to the Norwegian public holiday on 1 May 2019, there will be two days for corrections and claims following the dividend record date, being one day less than usual.

The minutes of both the AGM and EGM which detail the resolutions passed, the result of the votes cast in relation to each resolution are attached hereto. The minutes may be inspected at any time at the registered office of the Company and can be found on the Company’s website

Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry. We create sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.

Contact for enquiries:
Isabel Green
Investor Relations Director
Tel +44 20 8210 5568

Forward-Looking Statements: Certain statements made in this announcement may include ‘forward-looking statements’. These statements may be identified by the use of words like ‘anticipate’, ‘believe’, ‘could’, ‘estimate’, ‘expect’, ‘forecast’, ‘intend’, ‘may’, ‘might’, ‘plan’, ‘predict’, ‘project’, ‘scheduled’, ‘seek’, ‘should’, ‘will’, and similar expressions. The forward-looking statements reflect our current views and are subject to risks, uncertainties and assumptions. The principal risks and uncertainties which could impact the Group and the factors which could affect the actual results are described but not limited to those in the ‘Risk Management’ section in the Group’s Annual Report and Consolidated Financial Statements 2018. These factors, and others which are discussed in our public announcements, are among those that may cause actual and future results and trends to differ materially from our forward-looking statements: actions by regulatory authorities or other third parties; our ability to recover costs on significant projects; the general economic conditions and competition in the markets and businesses in which we operate; our relationship with significant clients; the outcome of legal and administrative proceedings or governmental enquiries; uncertainties inherent in operating internationally; the timely delivery of vessels on order; the impact of laws and regulations; and operating hazards, including spills and environmental damage. Many of these factors are beyond our ability to control or predict. Other unknown or unpredictable factors could also have material adverse effects on our future results. Given these factors, you should not place undue reliance on the forward-looking statements.