Haugesund, 10 October 2023: With reference to the release dated 17 August 2023
regarding notice of a contract award, Reach Subsea, the trusted data and subsea
service provider for ocean-based industries, announces the signing of the final
contract and further details on the assignment.

The contract constitutes a detailed corridor survey for the Spittal to Peterhead
HVDC power cable. The data will be used for detailed engineering and
environmental assessment of potential cable routes with the survey corridor. The
contract counterparty is SSEN Transmission, the transmission network operator
responsible for the high voltage electricity transmission network in the north
of Scotland. SSEN Transmission is carrying out a significant upgrade of the
electricity transmission network in the region, launching a 'Pathway to 2030'
programme of projects to facilitate the increase in renewable energy generation
across the north of Scotland and deliver a network for net zero emissions.

The work is scheduled for execution in the fourth quarter of 2023, with a
duration of approximately 75 vessel days. The ROV survey vessel Viking Reach
with its permanently mobilized high-speed Surveyor Interceptor ROV will be
utilized.

"We have ramped up our capacity significantly over the last couple of years to
serve a rapidly growing market with a broadened service offering. Our
international presence is expanding fast with Aberdeen as a core location, and
we are extremely pleased to be welcoming SSEN Transmission as a new significant
client. The contract win is a strong endorsement of Reach Subsea's attractivity
for large clients and capabilities in solving complex tasks within the HVDC
Transmission energy segment," said CEO of Reach Subsea Jostein Alendal.

"The Surveyor Interceptor ROV (SROV) can provide more data of higher quality and
higher resolution at higher speed and in more severe weather conditions than any
other survey platform and is well suited for this assignment off the Scottish
coast. We believe the contract with SSEN Transmission is an important step in
our expansion strategy in the UK," said Alastair McKie, Managing Director of
Reach Subsea UK.

"We are delighted to have secured marine survey services from Reach Subsea for
the Spittal to Peterhead HVDC Project. This is a hugely important step in
underpinning the timely delivery of this important project, which forms part of
a major upgrade of the electricity transmission network across Great Britain
that is required to help meet the UK and Scottish Governments 2030 renewable
energy and climate change targets. We look forward to working with the team at
Reach Subsea," said David Inge, Lead Project Manager at SSEN Transmission.
***

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 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.