Major Shareholders
On behalf of Subsea7, and in accordance with the recommendation of Oslo Stock Exchange, Nasdaq Advisory Services conducts a monthly review of shareholders registered at nominee accounts.
The review includes direct voting rights attached to shares only, and excludes indirect voting rights achieved through other financial instruments.
Details of indirect voting rights over 5% may be found by here.
The major shareholdings in the table below are based upon A) 299,600,000 total shares and B) 295,613,936 shares outstanding and represent the share register at the end of April 2025.
| Rank | Name | A | B |
| 1 | Siem Industries S.A. | 23.6% | 24.0% |
| 2 | Folketrygdfondet | 9.0% | 9.1% |
| 3 | Elliott Management Corporation | 4.6% | 4.7% |
| 4 | BlackRock Institutional Trust Company, N.A. | 3.5% | 3.6% |
| 5 | KLP Kapitalforvaltning AS | 2.3% | 2.4% |
| 6 | The Vanguard Group, Inc. | 2.3% | 2.4% |
| 7 | DNB Asset Management AS | 2.2% | 2.2% |
| 8 | Storebrand Kapitalforvaltning AS | 2.1% | 2.1% |
| 9 | Alfred Berg Kapitalforvaltning AS | 2.0% | 2.0% |
| 10 | SAFE Investment Company Limited | 1.9% | 1.9% |
| 11 | Pareto Asset Management AS | 1.9% | 1.9% |
| 12 | Amundi Asset Management, SAS | 1.5% | 1.5% |
| 13 | ODIN Forvaltning AS | 1.3% | 1.3% |
| 14 | Jupiter Asset Management Ltd. | 1.3% | 1.3% |
| 15 | Robotti & Company Advisors, LLC | 1.2% | 1.2% |
| 16 | Key Group Holdings (Cayman), Ltd. | 1.1% | 1.1% |
| 17 | Artisan Partners Limited Partnership | 0.9% | 0.9% |
| 18 | Arrowstreet Capital, Limited Partnership | 0.9% | 0.9% |
| 19 | T. Rowe Price International Ltd | 0.8% | 0.9% |
| 20 | State Street Global Advisors (US) | 0.8% | 0.8% |
This data is provided by Nasdaq Advisory Services and is obtained through an analysis of beneficial ownership and fund manager information provided in replies to disclosure of ownership notices issued to all custodians on the Subsea 7 S.A. VPS share register. Every reasonable effort has been made to verify the data, however neither Subsea7 nor Nasdaq Advisory Services can guarantee the accuracy of the analysis.
Changes to Major Shareholders can be found here. Changes to the holdings of Siem Industries S.A can be found here.