2021 May 18: The Company announces that the Exchange Price related to the Siem
Industries EUR250 Million Senior Secured Exchangeable Bond Issue 2021, 2.25%,
ISIN: NO 001 0766546 (the "Bonds") has changed. The Bonds are exchangeable into
shares of Subsea 7 S.A. at the specified Exchange Price. Following the recent
payment of a NOK2.0 dividend payable by Subsea 7 S.A. on 7 May 2021, the
Exchange Price is adjusted accordingly. The new Exchange Price is EUR9.0887,
effective on 29 April 2021.

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