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Investor Presentation Investor Presentation November 2019 1 © Subsea 7 - 2019 subsea7.com Index What we do Our differentiators Our priorities Our outlook Our financials Appendix 2 © Subsea 7 - 2019 subsea7.com Forward-looking statements Certain statements made in this presentation may include ‘forward-looking statements’. These statements may be identified by the use of words like ‘anticipate’, ‘believe’, ‘could’, ‘estimate’, ‘expect’, ‘forecast’, ‘intend’, ‘may’, ‘might’, ‘plan’, ‘predict’, ‘project’, ‘scheduled’, ‘seek’, ‘should’, ‘will’, and similar expressions. The forward-looking statements reflect our current views and are subject to risks, uncertainties and assumptions. The principal risks and uncertainties which could impact the Group and the factors which could affect the actual results are described but not limited to those in the ‘Risk Management’ section in the Group’s Annual Report and Consolidated Financial Statements for the year ended 31 December 2018. These factors, and others which are discussed in our public announcements, are among those that may cause actual and future results and trends to differ materially from our forward-looking statements: actions by regulatory authorities or other third parties; our ability to recover costs on significant projects; the general economic conditions and competition in the markets and businesses in which we operate; our relationship with significant clients; the outcome of legal and administrative proceedings or governmental enquiries; uncertainties inherent in operating internationally; the timely delivery of vessels on order; the impact of laws and regulations; and operating hazards, including spills and environmental damage. Many of these factors are beyond our ability to control or predict. Other unknown or unpredictable factors could also have material adverse effects on our future results. Given these factors, you should not place undue reliance on the forward-looking statements. 3 © Subsea 7 - 2019 subsea7.com Subsea 7 Our Vision Our Values To lead the way in the delivery of offshore What makes us who we are projects and services for the energy industry. ValuesSafety Our Strategy In an evolving energy sector, we create Integrity sustainable value by being the industry’s partner and employer of choice in delivering Sustainability the efficient offshore solutions the worldSafety needs. Integrity Performance Sustainability Our Stakeholders Performance Collaboration We seek to create sustainable value for Collaborationour clients, our people, our shareholders andInnovation Innovation society in everything we do. 4 © Subsea 7 - 2019 subsea7.com Corporate Responsibility • We are committed to operating in a safe, ethical and responsible manner Lost-time incident Clean Operations $3.1m Frequency rate (%) costs 2019 Targets: saved 5,000 - LTI <0.03 (target 3,600 lowered from 0.05 in 3,800 3,300 2018) 0.06 0.06 - Recordable incident 0.05 0.05 frequency rate <0.21 - Environmental spills 2015 2016 2017 2018 2015 2016 2017 2018 frequency rate <25 Frequency rate data is per 200,000 hours worked Clean Operations data is for owned vessels only litres - Environmental incident frequency rate <0.70 Operating in 33 91 Nationalities in 99% completion of (target lowered from countries worldwide our workforce ethics e-learning <0.90 in 2018) - 5% vessel fuel saving through clean UN Global Compact Over 67 community assistance operations signatory events delivered in 2018 5 © Subsea 7 - 2019 subsea7.com Our market segments Life of Field 2018 Revenue i-Tech 7 is a progressive and $4.1 billion pioneering subsea life of field partner delivering Inspection, Repair and SURF and Conventional Maintenance solutions to offshore Subsea 7 is a global leader in energy developments. offshore energy construction projects, operating in all water depths and conditions. $0.2bn (6 %) $3.2bn (78%) $0.7bn (16%) Renewables and Heavy Lifting Seaway 7 is a highly capable and experienced partner for the delivery of offshore wind farm projects, specialist heavy lifting and cable-lay services. 6 © Subsea 7 - 2019 subsea7.com 7 © Subsea 7 - 2019 subsea7.com Recent Operational highlights Alligin (UK) Burullus 9B (Egypt) Snorre (Norway) PUPP (Nigeria) To be updated Mad Dog II (GoM) Formosa 1 ph.2 (Taiwan) Life of Field PLSVs (Brazil) 8 © Subsea 7 - 2019 subsea7.com SURF and Conventional SURF and Conventional • Subsea Umbilicals, Risers and flowlines (SURF) • Connecting seabed wellhead structures to surface production facilities • Over 20 year track record: safe and efficient execution on over 1,000 projects • Operating in remote and harsh environments with complex challenges and risks 9 © Subsea 7 - 2019 subsea7.com PLSVs in Brazil PLSVs Use(2) • Pipelay support vessel (PLSV) is a heavy construction vessel with flex-lay Other Maintenance on 1% capability also able to perform various existing flexibles construction activities over the project 14% life cycle Flexibles • Scope of work in Brazil is a mix of removal installation of new flexibles as well as 4% replacement and maintenance of existing flexibles • All 4 of Subsea 7’s PLSVs are ranked in the top 6 vessels of Petrobras’ fleet for the last 12 months(1) New flexibles in pre-salt region 64% (1) Petrobras updates a rank of all PLSVs in the fleet on a monthly basis New flexibles in post-salt which is based on vessel performance against pre-established targets. region 17% Information provided is from July 2019 report. (2) Utilisation of Subsea 7 PLSV fleet year to date 10 © Subsea 7 - 2019 subsea7.com Heavy Construction/Flex-lay Fleet Presently in Brazil Presently outside Brazil Top Top Crane Crane Tension Tension Seven 100t/ Seven 550t 400t 430t Cruzeiro 400t(1) Seas Seven 100t/ Seven 550t 250t 260t Rio 400t(1) Pacific Seven 100t/ Seven 550t 1000t 600t Sun 400t(1) Arctic Seven Normand 125t/ 400t 550t 400t Waves Oceanic 325t Skandi 400t 150t Acergy (2) (1) Capacity of current crane installed is 100t but vessel is built to hold a 400t crane(2) Chartered vessel 11 © Subsea 7 - 2019 subsea7.com Life of Field • Leading Life of Field partner • Over 165 ROVs and a for clients throughout the oil fleet of ROV support and gas industry vessels • Over 35 year’s experience • Global business with operational bases in the UK, Brazil, the US and Australia 12 © Subsea 7 - 2019 subsea7.com Life of Field: products and services Life of Field solutions built on core products and services • ROV Intervention • Diving • Survey, Inspection & Data Management • Well simulation & sampling • Tool Management & Engineering Solutions • Pipeline Repair & Tree Installation Highly skilled and experienced people Innovative technologies 13 © Subsea 7 - 2019 subsea7.com Life of Field track record Over 1000 successful Inspection, Over 18,000 intervention tooling Repair and Maintenance projects products designed, delivered and completed managed Over 300 successful ROV drill rig exploration hydrocarbon sampling missions support worldwide since 1976 using ROVs Global experience, world-class technology and assets 14 © Subsea 7 - 2019 subsea7.com Renewables and Heavy Lifting 1991 SHL 2016 Beatrice 2018 SOC Joint Venture EPCI awarded acquired by established to Subsea 7 Subsea 7 2018 Comprehensive 2009 First 2013 Subsea 7 balance of plant Renewables increases its 2017 SHL offering: T&I and EPCI Project for focus on acquired by SHL renewables Subsea 7 10 years experience in renewable energy 16%(1) 1000 2 4 forecast for experienced EPCI specialist CAGR in personnel projects offshore renewables complete vessels 15 (1) Source: BloombergNEF, January 2018, © Subsea 7 - 2019 subsea7.com forecast to 2030 worldwide excluding China Subsea 7’s Renewable energy focus Subsea 7 is typically contracted to carry out, under its Seaway 7 brand: 1. Design, procurement and installation Wind Turbine Subsea 7’s Generators of foundation piles and jackets (SHL) (WTG) scope 2. Design procurement and installation of Inner Array Cables (SOC) Offshore Substation 3. Installation of the Offshore Substation and its foundations (SHL) Export Cable WTG Subsea 7 does not currently carry out Foundations (Jacket) installation or procurement of: Inner Array Cables 1. Wind Turbine Generators 2. Export Cables WTG Foundation Piles 16 © Subsea 7 - 2019 subsea7.com Index What we do Our differentiators Our priorities Our outlook Our financials Appendix 17 © Subsea 7 - 2019 subsea7.com Our Differentiators We’re different from our competition because we’re more creative, more reliable, and more focused on what our clients really need. Global team with expertise, passion and Culture commitment to deliver. Ability to innovate through technology, Creativity processes and partnerships. Working and learning together to achieve Relationships success for all. Reliability Trusted partner in delivering projects. Client-focused mindset to create the right Solutions solution. 18 © Subsea 7 - 2019 subsea7.com Creating market-leading solutions Engage early Enable with technology Digitalise and automate 19 © Subsea 7 - 2019 subsea7.com Early engagement FEASIBILITY & CONCEPT CONCEPT SELECT & PRE- FEED & DESIGN EARLY CLIENT ENGAGEMENT APPRAISE SCREENING FEED COMPETITIONS 20 © Subsea 7 - 2019 subsea7.com Total Lifecycle Solutions 10 projects (1) (including 4 FEED-to-EPIC contracts) 7 clients 5 countries Africa, Australia, UK, Norway and US Gulf of Mexico (1) Awarded since 2015 21 © Subsea 7 - 2019 subsea7.com Relationships with clients and partners • Comprehensive integrated offering with Subsea Fully Integrated Integration Alliance partner OneSubsea, Schlumberger • Unique integrated
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