SIEM INDUSTRIES S.A. which is represented on the board of Subsea 7 S.A. by Kristian Siem announces that
it has on 18 December 2020 delivered 487,600 SUBC shares under a call option agreement entered into on 30
November 2020 with a strike price of NOK 85 per share.
The Company has today outstanding sold put options for 1,693,000 SUBC shares.
The aggregate number of shares held by Siem Industries SA. in SUBC is 73,035,377.