REACH: Notification of claim received in connection with tender for contract

Haugesund, 9 November 2026 - Reach Subsea AS, a wholly owned subsidiary of Reach
Subsea ASA, has been served with a statement of claim from Statnett SF. Statnett
claims damages of up to NOK 158.5 million plus interest.

Reach Subsea AS firmly rejects the claim and considers it to be without merit.
The claim relates to a Statnett tender for cable installation. Reach Subsea AS
submitted a conditional tender and the conditions for the tender were not met
and no contract was signed.

Statnett subsequently resumed negotiations with another tenderer and awarded the
contract to that tenderer. Statnett claims damages for the price difference
between the two tenders. 

Reach Subsea AS will defend its position in the legal proceedings.

-ENDS-

For more information please contact:
Arne Joa
Chief Financial Officer
Reach Subsea ASA
investors@reachsubsea.com
+47 474 51 344

About Reach Subsea
Reach Subsea delivers its services through a versatile fleet of vessels,
including survey, IMR, construction support, and remote vessels. Our teams
operate worldwide, providing inspection, maintenance, construction support,
survey and data services across multiple industries, supporting clients
throughout every stage of their project lifecycles. Our offshore teams are
powered by advanced ROV technology and backed by onshore engineering expertise,
turning complex ocean challenges into reliable solutions. With over 500 skilled
professionals and offices in Norway, Sweden, the UK, the US, Brazil, Trinidad,
Australia, and Singapore, our vision-'Sustainable access to ocean space'-drives
safe, innovative, and sustainable subsea operations.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and Section 5-12 of the Norwegian Securities Trading
Act. This stock exchange announcement was published by Jorunn Håvardsholm,
Communications and Marketing Director at Reach Subsea ASA, on the time and date
provided.
ting Director at Reach Subsea ASA\, on the time and date\
provided.\