Haugesund, 12 December 2023: Reach Subsea ASA, the trusted data and subsea
service provider for ocean-based industries, has together with its Brazilian
partner OceanPact received a notice of contract award from Equinor for combined
light construction, IMR (inspection, maintenance, and repair) and survey
services on the Peregrino field offshore Brazil.
 
The specific project has a duration of approximately 45 vessel days and is
assigned as part of a contract that is valid for one year, implying additional
scope of work being added. It will be performed by the subsea vessel Havila
Subsea following the ongoing project in Brazil, with start in December this
year. The project has high technical complexity and combines services provided
by different divisions of Reach Subsea.
 
"This an important contract for Reach Subsea, documenting both the excellent
relationship with Equinor as a client and the breadth and high quality of Reach
Subsea's offering. We are proud to once again have been given the trust from a
tier-one energy company to deliver high-end services," said Jostein Alendal, CEO
of Reach Subsea.

"Expansion in the growing Brazilian market is of high importance and implies a
significant potential for Reach Subsea. The Equinor contract is a piece of firm
evidence of our commitment and success", said Cleiver Moulin, Managing Director
of Reach Subsea Brazil.

With this contract award, along with several other recent contract wins in
Europe and US, Reach Subsea has secured contracts with an estimated total value
of above NOK 265 million. The majority of these contracts are starting in Q4
2023 and Q1 2024. 

Jostein Alendal, CEO of Reach Subsea, commented on this stating: "We are
witnessing a consistent and robust demand for our services within the ocean
sector. These contracts bolster our existing order backlog and serve as a
confirmation to the compelling value proposition of our comprehensive and
integrated offerings. They also underscore our ability to effectively compete
for a diverse range of assignments on a global scale."

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.

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,
Marketing and Communications Manager at Reach Subsea ASA on the time and date
provided.