Proposed Board Nominations at Subsea 7 to Enhance Governance

Proposed Board Nominations at Subsea 7 S.A.

Subsea 7 S.A. is set to make substantial changes to its Board of Directors during the upcoming annual general meeting (AGM). The aim is to enhance the governance structure and support the company's growth strategy. Shareholders will have the opportunity to review and approve the proposed nominations that reflect Subsea 7's commitment to strong leadership and sustainable practices.

Independent Director Nominations

Among the proposals, one critical nomination is for Ms. Lucia de Andrade to be elected as an Independent Director. Ms. de Andrade brings a wealth of experience and expertise in corporate governance, which is vital for guiding Subsea 7 through the evolving energy sector.

Re-elections of Current Board Members

The meeting will also reconvene the roles of current Independent Directors Mr. Eldar Sætre and Ms. Elisabeth Proust van Heeswijk. Their re-election is intended to ensure continuity and stability in the board's decision-making process as the company navigates future challenges and opportunities.

Key Representation from Luxembourg

Additionally, Ms. Louisa Siem and the Luxembourg-based Treveri S.à r.l. will be re-elected as Directors. This decision underscores Subsea 7's commitment to maintaining a diverse board with a broad perspective on global operations. Mr. Kristian Siem, who holds 100% ownership of Treveri, will continue to act as its representative on the board.

Importance of Governance in Energy Sector

Subsea 7 is recognized as a global leader in providing offshore projects and services crucial for the energy transition. Good governance is paramount, particularly in an industry that sees rapid changes in technology and market dynamics. The proposed nominations are a step toward enhancing leadership capabilities, fostering innovation, and ensuring that the company remains competitive and resilient.

Commitment to Sustainability and Value Creation

By implementing effective governance structures, Subsea 7 aims to create sustainable value for its stakeholders and thrive as a partner of choice in the global energy sector. The company’s commitment to sustainability resonates with investors who seek responsible and impactful investment opportunities.

As the AGM approaches, detailed biographical information regarding the nominees will be made available in the published materials for shareholders. This transparency allows for informed decisions that align with shareholder interests.

Subsea 7 is publicly traded on the Oslo Børs under the ticker symbol SUBC and is associated with the ISIN LU0075646355. The firm continues to operate with a focus on responsible business practices, always aiming for the highest standards in governance and operational excellence.

For investor inquiries, please contact:
Katherine Tonks
Investor Relations Director
Tel +44 20 8210 5568
ir@subsea7.com

Frequently Asked Questions

What is the purpose of the upcoming AGM for Subsea 7?

The AGM aims to review and approve nominations for the Board of Directors, ensuring strong governance as the company progresses in the energy sector.

Who has been proposed as the new Independent Director?

Ms. Lucia de Andrade has been nominated for election as an Independent Director.

Which current members are up for re-election?

Mr. Eldar Sætre and Ms. Elisabeth Proust van Heeswijk are proposed for re-election as Independent Directors.

What significant representation does the Board have from Luxembourg?

Ms. Louisa Siem and Treveri S.à r.l. are being re-elected, with Mr. Kristian Siem serving as the representative.

Why is good governance important for Subsea 7?

Good governance is crucial for navigating the energy sector's complexities and for upholding the company's commitment to sustainable value creation.

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