NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, OR IN ANY OTHER JURISDICTION
IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW
Luxembourg - 12 September 2025 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, the
Company) today published further information in relation to the extraordinary
general meeting of shareholders of the Company to be held on 25 September 2025
(the EGM), the purpose of which is to consider the proposed combination between
Subsea7 and Saipem.
In accordance with article 1025-10(1) of the Luxembourg law of 10 August 1915 on
commercial companies, as amended (the Luxembourg Company Law), shareholders of
Subsea7 who vote against the approval of the common merger plan at the EGM will
have the right to dispose of their eligible shares for an adequate cash
compensation (the Withdrawal Cash Compensation) under the conditions set out in
the Luxembourg Company Law and which are summarised in the convening notice for
the EGM. It is now confirmed that in accordance with the Luxembourg Company Law
the Withdrawal Cash Compensation has been calculated as NOK 135.51 per share.
The withdrawal documentation including forms of withdrawal declaration, proxy
for the exercise of the withdrawal right, instructions letter to financial
intermediaries/VPS account operators and certificate of confirmations and
instructions to DNB Bank ASA can be found on the Company's website.
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Subsea7 is a global leader in the delivery of offshore projects and services for
the evolving energy industry, creating sustainable value by being the industry's
partner and employer of choice in delivering the efficient offshore solutions
the world needs.
Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI
222100AIF0CBCY80AH62.
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Contact for investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel +44 20 8210 5568
ir@subsea7.com
No Offer or Solicitation
This document is not an offer of merger consideration shares in the United
States. Neither the merger consideration shares nor any other securities have
been or will be registered under the U.S. Securities Act of 1933, as amended
(the "Securities Act"), and neither the merger considerations shares nor any
other securities may be offered, sold or delivered within or into the United
States, except pursuant to a registration statement filed pursuant to the
Securities Act or an applicable exemption from registration or in a transaction
otherwise not subject to the Securities Act. This document must not be
forwarded, distributed or sent, directly or indirectly, in whole or in part, in
or into the United States. This document does not constitute an offer of or an
invitation by or on behalf of, Saipem or Subsea7, or any other person, to
purchase any securities.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.
This stock exchange release was published by Katherine Tonks, Investor
Relations, Subsea7, at 09:00 CET on 12 September 2025