Reach Subsea - Exercises under share incentive program

Haugesund, 08 December 2022: Reference is made to the stock exchange notice on 9
December 2021 published by Reach Subsea ASA ("the Company"), regarding the
Company's share incentive program.

The window for exercising vested options expiring in 2022 ended on 08 December
2022 at 16:00 CET

Based on the applications received, the Board of Directors of the Company has
allocated a total of 812,500 new shares to the participants in the incentive
program. The Subscription price for the shares was NOK 2.82 per share. 

The Board of Directors has, on the basis of an authorisation granted to it by
the Annual General Meeting held on 30 May 2022, resolved to increase the share
capital of the Company by NOK 812,500, through issuance of 812,500 new shares,
each with a nominal value of NOK 1. 
 
The following Company primary insiders have purchased shares under the share
incentive program:

o	Jostein Alendal, CEO: 150,000 shares. Following the purchase, he beneficially
owns 5,739,539 shares in Reach (includes 5,679,539 shares owned by his 50% owned
investment company JT Invest AS) and holds 300,000 options. 
o	Bård Høgheim, CCO: 150,000 shares. Following the purchase, he beneficially
owns 610,625 shares in Reach and holds 300,000 options. 
o	Inge Grutle, COO: 150,000 shares. Following the purchase, he beneficially owns
1,069,179 shares in Reach (includes 1,059,179 shares owned by his 50% owned
investment company Invicta Invest AS) and hold 300,000 options. 
o	Birgitte Johansen, CFO