Subsea 7 S.A. Dividend and Notification of General Meetings

Subsea 7 S.A. today announced that, marking confidence in the financial position and outlook for the Group, the Board of Directors will recommend to shareholders at the Annual General Meeting (the "AGM") that a dividend of NOK 1.00 per share be paid, equivalent to a total dividend of approximately USD 33 million.

The AGM is scheduled to take place at 15:00 (local time) on 12 April 2022 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 12 April 2022 in order to consider proposed amendments to the Company’s articles of incorporation including amendments in relation to the dematerialisation of the Company’s shares following the implementation of the Norwegian Central Securities Depository Act, implementing the Central Securities Depositories Regulation.

The proposed agenda and the notice to convene the AGM and EGM will be published and distributed to eligible shareholders on 18 March 2022. The holders of common shares and American Depositary Receipts (“ADRs”) on record at the close of business on 7 March 2022 will be entitled to vote. The deadline for submission of votes for holders of ADRs is 1 April 2022 and for holders of common shares is 6 April 2022.

If the AGM approves the proposed payment of a dividend of NOK 1.00 per share, the last day the shares will be traded including the right to receive a dividend will be 27 April 2022.  The first trading date ex-dividend will be 28 April 2022 and holders of common shares and ADRs on record at the close of business on 29 April 2022 will be entitled to the dividend. The date of payment of the dividend will be 6 May 2022 for holders of common shares and ADRs.

Contact for investment community enquiries:

Katherine Tonks
Investor Relations Director
E: [email protected]