Acergy S.A. and Subsea 7 Inc. Combination Schedule

Acergy S.A. On September 23, 2010 Acergy S.A. and Subsea 7 Inc. submitted a notification to the UK Office of Fair Trading (OFT) regarding the parties
proposed merger. The OFT announced on December 21, 2010 that it is considering undertakings from the parties in lieu of referring the proposed merger to the UK Competition Commission.
Following a review of the OFT decision, the Boards of Acergy S.A. and Subsea 7 Inc. have concluded that the anticipated date of completion should remain January 7, 2011 subject toremaining closing conditions.
Both companies will continue to work with the OFT to implement the required undertakings.
Source: Press release