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Identification of the Notifying Person:



(a) Name and first name(s) of the person making the notification; if legal person:
Company name and registered office

1. If the notifying person is a Primary Insider, please specify the functions within the issuer
   

2. If the notifying person is a Close Associate of a Primary Insider please indicate "one of the persons closely associated with" and the name, first name and functions of the person with whom they are closely associated.

Siem Industries Inc., P.O. Box 309,
South Church Street, George Town,
Grand Cayman, KY1 -1104,
Cayman Islands
LEI: 549300N2HGK6EBHM3F03



Chairman of Siem Industries Inc.



Mr. Kristian Siem, is the Chairman of the issuer.

Name of the issuer

Subsea 7 S.A.

Reason for notification

Mandatory notification of trade

Description of the financial instrument

Shares

Nature of the transaction:
• Acquisition - i.e. a purchase/ any other transaction the purpose of which is the
acquisition of financial instruments.
• Disposal - i.e. a sale/ any other transaction the purpose of which is the transfer of financial instruments.

Acquisition of shares

Date of the transaction

21 August 2020

Place of the transaction i.e. Any useful information concerning the place of transaction, mainly the concerned market.

OTC

Negotiated Quantity

540,000

Price per security

NOK 84

Total amount of the transaction (fees excluded)

NOK 45,360,000

Further details of the transaction



Acquisition of 540,000 shares in Subsea 7 S.A. (OSE symbol SUBC) following the exercise of an existing OTC option structure (sold put).
Following this transaction, the total number of share options available to Siem Industries Inc.is for 8,824,000 shares and the aggregate number of shares held by Siem Industries Inc. is at 73,522,977.



Siem Industries is represented on the Board of Directors of Subsea 7 S.A. by Mr. Kristian Siem, Subsea 7 S.A.’s Chairman.