Haugesund, 20 March 2024: Reference is made to the 12 February 2024 stock
exchange release, where Reach Subsea ASA ("Reach Subsea" or "Reach") announced a
100 day project charter for the subsea vessel Olympic Taurus, with extension
options for 2+1+1 years. Reach Subsea has now extended the charter for an
additional 2 years and retain options for another 1+1 years.

"With a solid backlog and substantial tender pipeline for the coming periods, we
are enhancing our capacity to capitalize on the rapidly advancing global subsea
market. Reach Subsea is ideally positioned with a comprehensive service
portfolio spanning ocean services and data delivery, catering to both the
growing renewables sector and the established oil & gas market" said
Jostein Alendal, CEO of Reach Subsea.

Furthermore, Reach Subsea has ordered two new Constructor type ROV's from
Kystdesign AS with delivery in May 2024, and will be financed through our
equipment leasing frame agreement. The Constructor is a heavy duty ROV designed
for carrying and operating large tools and modules and has a depth rating of
3000m. Following delivery the ROVs will be mobilised onto the Reach Subsea fleet
and will expand our subsea service capacity into the 2024 season.

"The addition of the two new Constructor ROVs not only enhances our fleet's
flexibility but also bolsters our capability to efficiently execute a diverse
range of underwater tasks. These cutting-edge ROVs seamlessly integrate into our
existing portfolio of assets, further solidifying our position to effectively
address the demands of our clients. Their advanced technology and robust design
align perfectly with our commitment to deliver high-quality services and meeting
the evolving needs of our clients across various industries." said Jostein
Alendal.

- END - 

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.