Subsea 7 announces new loan facility

Luxembourg – February 25, 2021 – Subsea 7 SA (Oslo Børs: SUBC, ADR: SUBCY) today announced that on February 24, 2021, the Group entered into a five-year $ 500 million amortizing loan facility backed by a $ 400 million guarantee. of UK Export Finance dollars.

The Group has a two-year availability period to use the facility, and the facility has a five-year term starting at the end of the availability period or when the facility is fully utilized, whichever is earlier.

The facility can be used for general business purposes including providing working capital funding for services provided from the UK. Installation is guaranteed by Subsea 7 SA

John Evans, CEO of Subsea 7, said: “This flexible $ 500 million loan facility diversifies our sources of liquidity and supports our strategy of proactive participation in the energy transition.

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Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry. We create lasting value by being the industry’s partner and employer of choice to provide the efficient offshore solutions the world needs.

Subsea 7 is listed on Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

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Contact for Investor Community Inquiries:
Catherine tonks
Director of Investor Relations
Phone +44 (0) 20 8210 5568

Forward-looking statements: This announcement may contain “forward-looking statements” (as defined in the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or underperformed. heard in these statements. Forward-looking statements can be identified by the use of words such as “anticipate”, “believe”, “estimate”, “expect”, “future”, “objective”, “intend”, ” probable “” may “,” plan “,” project “,” seek “,” should “,” strategy “” will “and similar expressions. The main risks that could affect the future operations of the Group are described in the section” Risk Management ”in the Group’s annual report and consolidated financial statements for the year ended December 31, 2019. Factors that could cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our offerings, and to avoid cost overruns; (ii) our ability to collect debts, negotiate orders modification and p receive the corresponding income; (iii) our ability to recover costs on major projects; (iv) capital expenditures of oil and gas companies, which are affected by fluctuations in the price and demand of crude oil and natural gas; (v) unforeseen delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss or deterioration of our relationships with major customers; (viii) the outcome of legal proceedings or government inquiries; (ix) uncertainties inherent in international operations, including economic, political and social instability, boycotts or embargoes, social unrest, changes in foreign government regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or natural disaster; (xi) liability to third parties for the failure of our joint venture partners to meet their obligations; (xii) changes or our failure to comply with applicable laws and regulations (including regulatory actions relating to climate change); (xiii) operational risks, including spills, environmental damage, personal or property damage and business disruption caused by adverse weather conditions; (xiv) equipment or mechanical failure, which could increase costs, reduce revenue and result in penalties for failure to meet project completion requirements; (xv) on-time delivery of ordered vessels and on-time completion of vessel conversion programs; (xvi) our ability to keep pace with technological change and the impact of potential information technology, cybersecurity or data security breaches; and (xvii) the effectiveness of our disclosure controls and procedures and our internal control over financial reporting;. Many of these factors are beyond our ability to control or predict. In view of these uncertainties, you should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of such announcement. We assume no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


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