Elliott Investment Management ups stake in Subsea 7

Subsea 7 S.A. announced receipt of a major holding notification from Elliott Investment Management, L.P., detailing transactions in its shares. The notification, submitted on September 19, 2025, indicates Elliott Investment Management, L.P. crossed a significant ownership threshold on September 15, 2025.

As a result of these transactions, the total position of voting rights held by Elliott Investment Management, L.P. in Subsea 7 S.A. now stands at 4.96%, comprising 4.89% through shares and 0.07% through financial instruments. This represents an increase from its previous reported position of 9.96%. The total number of voting rights of the issuer is 299,600,000.

The financial instruments include an equity swap, maturing on June 29, 2026, which is cash-settled and represents 0.07% of voting rights, equivalent to 212,328 voting rights. The notification was made pursuant to EU Market Abuse Regulation and Norwegian Securities Trading Act disclosure requirements.