Haugesund, 12 February 2026 - Reach Subsea ASA today announced its
fourth-quarter and preliminary full year 2025 results. Revenue for the quarter
totaled NOK 606 million (down from NOK 685 million in Q4 2024), while EBIT came
in at NOK -60 million (compared to NOK 80 million same quarter last year).
Revenues for the full year totaled NOK 2 677 million (compared to NOK 2 718
million last year), while EBIT for the full year came in at NOK 149 million (364
million last year)

The weak quarter and second half of 2025 was mainly driven by low utilisation,
reduced project margins, start-up costs associated with the Reach
Remote-concept, adverse currency movements and increased depreciation.

- We are not satisfied with the results of this quarter, nor the second half of
2025. While the softer results reflect a slowdown in the market, we are
sharpening our efforts accordingly, and we continue to advance our long-term
strategy by investing in Reach Remote-an initiative where the temporary costs
are small compared to the transformative value and competitiveness it brings
over time said CEO Jostein Alendal. 

Reach Subsea remains firmly committed to transforming the subsea industry
through robotisation, underscored by key milestones achieved throughout 2025.
Reach Remote 1 and 2 have demonstrated strong operational performance in
demanding environments across multiple time zones, establishing a growing track
record as the scale-up of the programme continues to progress.

- Throughout 2025, we have moved the Reach Remote model from concept to
commercial reality: taking delivery of Reach Remote 1 and 2, piloting them in
demanding environments, establishing regulatory pathways, securing the necessary
approvals, and placing both units into commercial operation - all within the
same year. These breakthroughs give us a robust platform to grow from and
increase confidence as we continue building the next phases of our remote
capabilities said CEO Jostein Alendal

The company's order backlog stands at NOK 1.175 million, with a tender volume of
NOK 10 billion. There is a clear increase in interest for the Reach Remote
concept, reflected in growing USV-related tenders and the overall rise in tender
volumes.


Q4 2025 highlights:
o	Weaker 4Q than last year driven by lower utilisation, reduced project margins,
start-up costs associated with the Reach Remote-concept, adverse currency
movements and increased depreciation.. 
o	The Reach Remote concept strengthened its market position through multiple
successful campaigns and the launch and certification of a highly advanced
remote operations centre in Australia, which has already delivered successful
operations for Woodside. 
o	The outlook remains sound, with a backlog of NOK 1.2 billion and tender volume
of NOK 10 billion.
o	Progressing work to explore options to further accelerate the scale-up of
Reach Remote.
o	The Board will propose a dividend per share of NOK 0.17, in line with the
stated dividend policy.

-ENDS-

QUARTERLY PRESENTATION
Reach Subsea's CEO Jostein Alendal and CFO Arne Joa will host a webcast
presentation of the results in English today at 9:30 CET. 
Questions may be submitted during the presentation through the webcast player.

Webcast link: https://qcnl.tv/p/S_zINNF65tBsygKUq1s5Lw
 
The report and presentation will be made available at https://reachsubsea.no and
www.newsweb.no. 
A recorded version of the presentation will be available after the live stream
is concluded.

For more information please contact: 
Arne Joa
Chief Financial Officer 
Reach Subsea ASA 
arne.joa@reachsubsea.no 

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 the Norwegian Securities Trading
Act. This stock exchange announcement was published by Jorunn Håvardsholm,
Communications and Marketing Director at Reach Subsea AS on the time and date
provided.