SIEM INDUSTRIES INC. which is represented on the board of Subsea 7 SA by
Kristian Siem announces that on Friday, 21 August 2020, it acquired a total of
540,000 shares in Subsea 7 S.A. (OSE symbol SUBC) following the exercise of an
existing OTC Option structure, representing a sold Put, with details as follows:

Date: 2020, August 21
Exercised Put Underlying shares: 540,000
Strike price NOK: 84

Following this transaction, the aggregate number of shares held by Siem
Industries Inc. is 73,522,977 which is equal to 25.41% of the Subsea 7 SA share
capital. The total number of options available to Siem Industries Inc. is
8,824,000.

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