Haugesund, 24 September 2025 - Reach Subsea ASA announces today that it has
exercised the first in a series of exclusive options with Kongsberg Maritime for
the delivery of the next two uncrewed surface vessels (USVs), Reach Remote 3 and
4. The contract terms have been mutually agreed and remain confidential between
the parties. Delivery is scheduled for the second half of 2027.  

This marks a key milestone in Reach Subsea's USV scaling programme.  

The specifications for Reach Remote 3 and 4 will mirror the first two vessels,
with targeted adjustments based on insights gained through the technical
qualification programme and recent operational experience.  

Reach Remote 1 and 2 were delivered earlier this year and are now in commercial
operation. Reach Remote 1 is currently completing a series of fully
remote-controlled offshore deployments off the coast of Norway for Equinor,
TotalEnergies and Shell. Reach Remote 2 is in route to Australia to deliver
services for Woodside Energy. 

These deployments represent a major step forward in Reach Subsea's development
of remote operations architecture. In close collaboration with clients, the
company has built a robust framework of ocean robotics capabilities-integrating
advanced control systems, sensor technologies and remote piloting protocols.
This structure enables efficient and safe subsea operations from onshore control
centres around the world. 

" The Reach Remote programme is a cornerstone of our strategy to redefine subsea
operations. By combining our subsea expertise with the naval capabilities of
Kongsberg Maritime and Massterly, we are delivering real-world solutions that
are safer, smarter, and more sustainable. With vessels 3 and 4 now confirmed, we
are entering the scale-up phase-ready to meet global demand and shape the future
of remote subsea services", said Jostein Alendal, CEO of Reach Subsea. 

In parallel with the ongoing growth initiatives, Reach Subsea has secured debt
financing for Reach Remote 3 and 4 through DNB, Sparebank 1 Sør-Norge and
EKSFIN. The financing attracted strong interest from leading financial
institutions, enabling Reach to broaden its banking relationships. This
expanding banking universe further strengthens the company's financial
flexibility and resilience, supporting continued investment in innovative subsea
solutions.  

On 22 October 2024 Reach Subsea announced the award of a EUR 14.3 million grant
from the European Union through the Emission Trading System Innovation Fund. A
large part of this grant is dedicated towards co-funding of the investment in
Reach Remote 3 and 4.  

The total investment from Reach Subsea in Reach Remote 3 and 4, ready for
commercial operations and after EU funding, is approximately NOK 620 million. Of
this, the bank financing related to Reach Remote 3 and 4 covers two-thirds of
Reach's investment. 

With the financial foundation in place, the company is now focused on scaling
operations towards critical mass and integrating ocean robotics across its
delivery model. 

"The Reach Remote fleet has enabled us to fully integrate ocean robotics into
our delivery model. This shift is already delivering strong operational
benefits-allowing us to offer a broader range of subsea solutions with greater
responsiveness, resource efficiency, and global reach", said Inge Grutle, COO of
Reach Subsea. 

This operational shift is made possible through strong partnerships and shared
innovation.  

Lisa Edvardsen Haugan, President of Kongsberg Maritime, said: "This contract
reflects a growing industry confidence in remote and autonomous technologies.
The success of Reach Remote 1 has proven that remote operations are not only
viable, but they're also transformative. By delivering these vessels, we ensure
seamless integration of our advanced systems and a streamlined path to
deployment. The Reach Remote concept is not just a technological achievement