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Subsea 7 S.A. special dividend announcement and notification of General Meetings

Luxembourg – 1 March 2018 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, the Company) today announced that in light of the Group’s solid financial and liquidity position and improved market outlook, the Board of Directors will recommend to the shareholders at the Annual General Meeting (the "AGM") that a special dividend of NOK 5.00 per share be paid, equivalent to a total dividend of approximately USD 200 million.

The AGM is scheduled to take place at 15:00 (local time) on 17 April 2018 at the Company's registered office, 412F, route d'Esch, L-2086 Luxembourg. 

An Extraordinary General Meeting (the “EGM”) will also take place at the Company’s registered office immediately after the AGM on 17 April 2018 in order to address the reinstatement of the Company’s authorised share capital. The proposed agenda and the notice to convene the AGM and EGM will be published and distributed to eligible shareholders on 15 March 2018.

The holders of common shares and American Depositary Receipts (“ADRs”) on record at the close of business on 9 March 2018 will be entitled to vote. The deadline for submission of votes for holders of ADRs is 9 April 2018 and for holders of common shares is 12 April 2018.

If the AGM approves the proposed payment of a special dividend of NOK 5.00 per share, the last day the shares will be traded including the right to receive a dividend will be 24 April 2018 and holders of common shares and ADRs on record at the close of business on 26 April 2018 will be entitled to the dividend. The first trading date ex-dividend will be 25 April 2018. The date of payment of the dividend will be 2 May 2018.