Haugesund, 21 June 2024: Reach Subsea AS has entered into an agreement with
Equinor to conduct technology qualification program for the Reach Remote USVs.
Reach Subsea's USVs, Reach Remote 1 and 2, have entered the final testing stage.
This contract confirms the qualification pilot program necessary to validate
their intended operations, with financial support from Equinor.

The pilot project with Equinor includes a variety of relevant survey, ROV
intervention, IMR and monitoring related work scope which will demonstrate the
full capacity of the Reach Remote spread.

The scope of work is designed to showcase the capabilities of the USVs and the
electric work ROVs to various stakeholders within Equinor and beyond. This
involves demonstrating survey data acquisition and ensuring the safe operation
of the equipment, including the use of checklists and drills.

The main goal of this campaign is to validate remote operations for various
tasks such as seabed mapping, structure inspection (including photogrammetry),
pipeline inspection, guard vessel duties, environmental monitoring, and
reservoir modelling using gravimetric measurements. Reach Subsea operates
control rooms in various locations, including both fixed facilities and mobile
containment setups.

This contract is a milestone not only for Reach Subsea but for the entire subsea
industry. It confirms the interest and commitment of major industry players to
utilize innovative technology required to deliver on the climate ambitions
stated in the Paris Agreement.

"We are committed to being part of the required transition, and our Reach Remote
USVs represent a significant step in the subsea market, with CO2 emissions
estimated to be reduced by 90% compared to conventional vessels. This contract
with Equinor supports the validation process needed to ensure the USVs can be
utilized in operations later this year. This is just the first step, and I
expect to see a rapid increase in the use of remote technology in the years
ahead," said Jostein Alendal, CEO of Reach Subsea.

The pilot program with Equinor is planned to be executed directly after the
delivery of the vessels estimated autumn 2024. The scope of work is part of a
full-scale operation and will be executed offshore in the North Sea and
Norwegian Sea on production fields such as Troll, Gullfaks, Snorre and Åsgard.


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For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no

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 Brazil and Australia. 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.