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17 March 2020 Dear Shareholders, on Tuesday 7 April

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17 March 2020 Dear Shareholders, on Tuesday 7 April Subsea 7 S.A. 412F, Route d'Esch L-2086 Luxembourg www.subsea7.com 17 March 2020 Dear Shareholders, On Tuesday 7 April 2020, the Annual General Meeting (the “AGM”) of the Shareholders of Subsea 7 S.A., (the “Company”), RCS Luxembourg N° B43172, will be held at the registered office of the Company, 412F, route d’Esch, L-2086 Luxembourg, at 15:00 hours (local time). Due to the fact that the Company is incorporated in Luxembourg as a Société Anonyme, the Company’s affairs are governed by the provisions of Luxembourg Company Law. Under these provisions and the provisions of the Company’s Articles of Incorporation, the AGM will be restricted to the matters set out in the enclosed Notice. Matters to be considered at the AGM At the AGM, shareholders will be asked to approve the Group’s Annual Report and consolidated financial statements, the Company’s annual accounts, discharge the Directors from their duties for the financial year and approve the statutory auditor’s appointment. In addition, this year’s AGM agenda includes three items with respect to the election to the Board of Directors of three directors standing for re-election, Mr Jean Cahuzac, Mr Niels Kirk and Mr David Mullen. The biographies of the relevant directors are attached to this letter in an Appendix. Quorum and Majority At the AGM, since under Luxembourg law there is no minimum quorum requirement, decisions taken shall be valid regardless of the number of shares represented, provided there is approval by the majority of the votes of the shareholders validly cast. General Matters Holders of Common Shares and American Depositary Receipts on record at the close of business on 4 March 2020 will be entitled to vote at the AGM. The deadline for submission of votes for holders of American Depositary Shares is 26 March 2020 and for holders of Common Shares is 2 April 2020. seabed-to-surface Registered Office: 412F, Route d'Esch L-2086 Luxembourg R.C.S. Luxembourg B 43172 Enclosed with this mailing are the Notice of Annual General Meeting and Proxy Cards. The 2019 statutory and consolidated financial statements of Subsea 7 S.A. including the Report of the Board of Directors and Authorised Statutory Auditor’s Reports are available on the Company’s website at: www.subsea7.com. If you want to cast your vote at the AGM, please promptly sign, date and return the enclosed Proxy Cards to ensure that it will be received in time. If you require further information or clarification on the above, please contact our Investor Relations team at [email protected]. The Company’s Board of Directors recommends that you vote in favour of all proposals to be considered at the AGM. Yours sincerely Mr. Kristian Siem Chairman Appendix 2020 Annual General Meeting Director Biographies Jean Cahuzac, 1954 Director Skills and experience: Mr Cahuzac has wide multi-country technical, commercial and general management experience in senior executive roles in the oil and gas services sector spanning a period of 40 years. He was appointed Chief Executive Officer of Acergy S.A. in 2008 and in 2011, post merger, became the Chief Executive Officer of Subsea 7 S.A., a position he held until his retirement in December 2019. Mr Cahuzac was Chief Operating Officer and then President at Transocean from 2000 to 2008. He worked at Schlumberger from 1979 to 1999 in various field management positions and then as President of Sedco-Forex. He holds a Master’s degree in Engineering from École des Mines de St-Étienne and is a graduate of the French Petroleum Institute in Paris. Appointment: Mr Cahuzac was appointed a Director from May 2008 (then named Acergy S.A.). External appointments: Mr Cahuzac is a member of the Supervisory Board of Société Phocéenne de Participations. Committee Membership: None. Nationality: Mr Cahuzac is a French citizen. Niels Kirk, 1962 Director Skills and experience: Mr Kirk brings to the role over 35 years of international corporate and structured finance experience with extensive knowledge of the global energy, power and resource sectors at executive level. He worked at Citibank for over 25 years where his most recent appointment was Chairman & Managing Director of Energy & Natural Resources in Europe, the Middle East and Africa until 2018. Prior to Citibank, he worked at Banque Paribas for five years. Mr Kirk is a member of the Advisory Council of Advanced Power, which develops, acquires, owns and manages power generation and related infrastructure projects in Europe and North America. He holds an MBA in Finance and International Business from the Stern School at New York University. Appointment: Mr Kirk was appointed a Non-Executive Director from April 2018. External appointments: Mr Kirk has no other external appointments with public companies. Committee Membership: Mr Kirk is a member of the Audit Committee and a member of the Compensation Committee. Nationality: Mr Kirk is an American and British citizen. David Mullen, 1958 Director Skills and experience: Mr Mullen brings over 30 years’ experience in the oil services business. He has previously held the position of CEO at two other companies in the subsea industry, Wellstream Holdings PLC and Ocean Rig ASA. Prior to these appointments he was Senior Vice President of Global Marketing, Business Development and M&A at Transocean from 2005 to 2008. Mr Mullen also had a 23-year career at Schlumberger, including as President of Oilfield Services for North and South America. He holds a Bachelor of Arts degree in Geology and Physics from Trinity College, Dublin, and a MSc degree in Geophysics from the National University of Ireland. Appointment: Mr Mullen was appointed a Non-Executive Director from April 2018. External appointments: Mr Mullen is CEO and Director of Shelf Drilling Limited. Committee Membership: Mr Mullen is a member of the Corporate Governance and Nominations Committee. Nationality: Mr Mullen is an Irish citizen. Subsea 7 S.A 412F, Route d-Esch L-2086 Luxembourg www.subsea7.com CONVENING NOTICE of the ANNUAL GENERAL MEETING of SHAREHOLDERS of SUBSEA 7 S.A. to be held on 7 April 2020 Dear Shareholders, You are hereby convened to the Annual General Meeting (the “AGM”) of the Shareholders of Subsea 7 S.A. (the “Company”), RCS Luxembourg N° B43172, having its registered office at 412F, route d’Esch, L-2086 Luxembourg, to be held at its registered office on 7 April 2020 at 15:00 hours (local time). AGENDA FOR THE AGM OF SUBSEA 7 S.A. (1) To consider (i) the management report of the Board of Directors of the Company in respect of the statutory and consolidated financial statements of the Company and (ii) the reports of Ernst & Young S.A., Luxembourg, authorised statutory auditor (“réviseur d’entreprises agréé”) on the statutory financial statements and the consolidated financial statements of the Company, for the financial year ended 31 December 2019, as published on 6 March 2020, which are available on the Company’s website at www.subsea7.com. (2) To approve the statutory financial statements of the Company for the financial year ended 31 December 2019, as published on 6 March 2020, which are available on the Company’s website at www.subsea7.com. (3) To approve the consolidated financial statements of the Company for the financial year ended 31 December 2019, as published on 6 March 2020, which are available on the Company’s website at www.subsea7.com. (4) To approve the allocation of results of the Company for the fiscal year ended 31 December 2019, as recommended by the Board of Directors of the Company, and to affect the amount of the legal reserve in excess of the legal requirement in the amount of USD5.5 million to the profit (or loss) account. (5) To discharge the Directors of the Company in respect of the proper performance of their duties for the financial year ended 31 December 2019. (6) To re-appoint Ernst & Young S.A., Luxembourg, as authorised statutory auditor (“réviseur d’entreprises agréé”) to audit the statutory and consolidated financial Seabed to Surface Registered in Luxembourg Registered No. RC Lux B 43172 Registered Office: 412F, Route d'Esch L-2086 Luxembourg statements of the Company, for a term to expire at the next Annual General Meeting. (7) To re-elect Mr Jean Cahuzac as a Non-Executive Director of the Company to hold office until the Annual General Meeting to be held in 2022 or until his successor has been duly elected. (8) To re-elect Mr Niels Kirk as a Non-Executive Director of the Company to hold office until the Annual General Meeting to be held in 2022 or until his successor has been duly elected. (9) To re-elect Mr David Mullen as a Non-Executive Director of the Company to hold office until the Annual General Meeting to be held in 2022 or until his successor has been duly elected. *********************** The items on the AGM agenda may be validly deliberated on without any quorum requirement. The resolutions at the AGM shall be adopted by a simple majority of the votes validly cast. The full text of material relating to the AGM is available online at www.subsea7.com and can also be obtained from the Company Secretary, Subsea 7 S.A., 412F, route d’Esch, L- 2086 Luxembourg. 17 March 2020 Mr. Kristian Siem Chairman To assure their representation at the AGM shareholders are hereby requested to fill in, sign, date and return the Proxy Card in the return envelope provided for such purpose to the address indicated therein. The deadline for submission of votes for American Depositary Receipt holders is 26 March 2020 and for holders of Common Shares is 2 April 2020.
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