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Subsea7 participation in Seaway7 equity financing

Luxembourg – 9 September 2022 – Seaway 7 ASA (“Seaway7”), part of the Subsea7 Group, today announced its intention to raise USD 650 million through the issuance of new equity and debt, primarily to finance its two new build vessels. The equity capital will be raised through a rights issue fully underwritten by Seaway7’s three largest shareholders to raise gross proceeds of approximately USD 200 million. The proposed rights issue is subject to approval by Seaway7’s shareholders at an EGM expected