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Major Shareholders

Subsea 7 conducts a monthly review of shareholders registered at nominee accounts. The 20 largest shareholders as at 31 March 2022(a) were:

1

Siem Industries S.A (b)

23.1%

2

Folketrygdfondet

8.3%

3

BlackRock Institutional Trust Company, N.A.

4.0%

4 DNB Asset Management AS 2.8%
5 Storebrand Kapitalforvaltning AS 2.3%
6 The Vanguard Group Inc. 2.1%
7 KLP Forsikring  1.9%
8 Pareto Asset Management AS 1.9%
9 SAFE Investment Company Limited 1.9%
10 ODIN Forvaltning AS 1.7%
11 Robotti & Company Advisors, LLC 1.7%
12 Nordea Funds Oy 1.5%
13 Mandarine Gestion 1.2%
14 Cobas Asset Management SGIIC, SA 1.0%
15 Third Avenue Management LLC 1.0%
16 Schroder Investment Management Ltd 0.9%
17 BlackRock Investment Management (UK) Ltd 0.9%
18 Holberg Fondsforvaltning AS 0.9%
19 SEB Investment Management AB 0.8%
20 MP Pensjon 0.8%

a) The data is provided by Nasdaq, Inc and is obtained through an analysis of beneficial ownership and fund manager information. This is provided in response to disclosure of ownership requests.

b) Changes to Major Shareholders can be found here. Changes to the holdings of Siem Industries S.A can be found here

Since 3 May 2022 Subsea 7 S.A. has held 7,468,322 treasury shares representing approximately 2.49% of the total number of issued shares. Announcements regarding changes to the number of shares held in treasury can be found under Regulatory News.