Subsea 7 S.A. announces proposed nomination to the Company’s Board of Directors

Subsea 7 S.A. today published and distributed to eligible holders of Common Shares and American Depositary Receipts the Notice of Meeting and supporting materials for the Ordinary General Meeting of Shareholders (the OGM) scheduled to take place at 15:00 (local time) on 4 June 2021 at the Company's registered office, 412F, route d'Esch, L-2086 Luxembourg.

The sole purpose of the Meeting is to consider the election of Ms Louisa Siem as a new Non-Executive Director to the Company’s Board of Directors. The proposed director has been selected by Siem Industries S.A. in accordance with the terms of the relationship agreement dated 20 June 2010 between Siem Industries and the Company. The Board is supportive of this resolution.

The appointment of the Siem Industries nominee will not result in a majority of the Company’s Board being non-independent and is in line with the Board’s commitment to gender diversity, which includes having at least one female director on the Board. The Notice of Meeting and supporting materials can be found on the Company’s website (www.subsea7.com).

As previously announced, holders of Common Shares and American Depositary Receipts on record at the close of business on 30 April 2021 are entitled to vote at the OGM. The deadline for submission of votes for holders of American Depositary Receipts is 26 May 2021 and for holders of Common Shares is 1 June 2021.