Reach Subsea - Exercises under share incentive program

Haugesund, 08 December 2023: Reference is made to the stock exchange notice on 9
December 2021 published by Reach Subsea ASA ("the Company"), regarding the
Company's share incentive program. The window for exercising vested options
expiring in 2023 ended on 08 December 2023 at 10:00 CET.
Based on the applications received, the Board of Directors of the Company has
allocated a total of 850,000 new shares to the participants in the incentive
program. The Subscription price for the shares was NOK 2.64 per share. 

The Board of Directors has, on the basis of an authorisation granted to it by
the Annual General Meeting held on 31 May 2023, resolved to increase the share
capital of the Company by NOK 850,000, through issuance of 850,000 new shares,
each with a nominal value of NOK 1. 

The following Company primary insiders have purchased shares under the share
incentive program: 
o Jostein Alendal, CEO: 150,000 shares. Following the purchase, he owns 150,000
shares in Reach in addition to 5,739,539 shares owned by his 50% owned
investment company JT Invest AS and holds 150,000 options. 
o Bård Høgheim, CCO: 150,000 shares. Following the purchase, he owns 780,000
shares in Reach and holds 150,000 options. 
o Inge Grutle, COO: 150,000 shares. Following the purchase, he owns 10,000
shares in Reach in addition to 1,209,179 shares owned by his 50% owned
investment company Invicta Invest AS and holds 150,000 options. 
o Birgitte Johansen, CFO; 75,000 shares. Following the purchase, she owns
299,050 shares in Reach and holds 150,000 options. 

Following payment of the new shares by the employees in the incentive program
and registration of the share capital increase with the Norwegian Register of
Business Enterprises (Nw. Foretaksregisteret), the new share capital of the
Company will, subject to all new shares being duly paid for, be NOK 271,769,245
divided into 271,769,245 shares, each with a nominal value of NOK 1. 

Furthermore, unvested options equivalent to 975,000 shares remains outstanding
under the Company's share incentive programme. 


Contact information: 
Birgitte Wendelbo Johansen 
Chief Financial Officer 
Reach Subsea ASA 
bwj@reachsubsea.com 

About Reach Subsea: Reach Subsea ASA Group offers high quality solutions and
technology to clients in need of ocean data and services. Services are offered
out of our head office in Haugesund as well as from our subsidiaries and
branches located across Norway, US, UK, Cyprus, Singapore, Trinidad, Australia
and Brazil. The Group's objective is to be a preferred partner and full-service
provider of ocean services for clients, focusing on safety, environment,
financial solidity and profitability. Our vision "Sustainable access to ocean
space" underpins our commitment to the development of sustainable solutions,
with stakeholder groups key interests in focus. www.reachsubsea.no 

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements according
to section 5-12 of the Norwegian Securities Trading Act. The information was
submitted for publication by CFO Birgitte Wendelbo Johansen, on behalf of the
Company at the date and time set out above.

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