Reach Subsea: Contract award in the North Sea renewable energy market

Haugesund, 09 March 2022: Reach Subsea ASA ("Reach"), a provider of subsea
services globally, has been awarded a contract in the North Sea for start up
early in Q2 2022, representing about 80 project days.

The project involves the support of an offshore wind farm located in the North
Sea and will be performed by the Olympic Challenger spread. 
This contract award, other recent smaller contract awards, and tendering
activity all point towards good utilisation of our assets and resources in this
year's summer season.

"This contract with a new customer is an important milestone in the development
of our renewable energy segment. Our ability to deliver quality solutions with
short timelines has been the key contributing factor in winning this contract.
We also see great potential to deliver a wider range of our services to this new
client," said Jostein Alendal, CEO of Reach Subsea.
Olympic Challenger is a DP2 IMR and light construction subsea vessel on a
charter with Reach Subsea since April 2018.

For further information, please contact:
Birgitte Wendelbo Johansen, CFO of Reach Subsea ASA, bwj@reachsubsea.no

About Reach Subsea:
The Reach Subsea ASA Group's business concept is to offer subsea services as
subcontractor and/or directly to end clients, based out of our head office in
Haugesund. The core business of the Group is based on modern, high spec Work
ROVs operated by highly-qualified offshore personnel, and supported by onshore
engineering resources. The Group's objective is to be a preferred subsea partner
and full-service provider of subsea operations for clients, among others by
having focus on safety, environment, financial solidity and profitability.
www.reachsubsea.no