Reach Subsea - Issuance of shares and warrants to Wilhelmsen New Energy AS - new
share capital registered

Haugesund, 25 March 2022: Reference is made to previous announcement made by
Reach Subsea ASA ("Reach" or the "Company") on 17 February 2022, and the
resolutions made by the Company's extraordinary general meeting held on 15 March
2022 regarding issuance of new shares and warrants to Wilhelmsen New Energy AS.

The share capital increase pertaining to the issuance of 46,126,567 new shares
and the issuance of 44,766,864 warrants have today been registered with the
Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The
Company's new share capital is NOK 224,913,428, divided into 224,913,428 shares,
each with a nominal value of NOK 1. 

These new shares will be placed on separate ISIN (being ISIN NO0012478421) and
will hence not be tradeable on Oslo Børs until the Company publishes a
prospectus, which have been approved by the Norwegian Financial Supervisory
Authority. The warrants will also be placed on separate ISIN (being ISIN
NO0012478439).

For further details on the private placement, see announcement of 17 February
2022.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

For more information, please contact: 

Jostein Alendal, CEO 
Birgitte Wendelbo Johansen, CFO/IR 

About Reach Subsea: 
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly
to end clients, based out of our head office in Haugesund. The core business of
the Group is based on modern, high spec Work ROVs operated by highly-qualified
offshore personnel, and supported by onshore engineering resources. The Group's
objective is to be a preferred subsea partner and full-service provider of
subsea operations for clients, focusing on safety, environment, financial
solidity and profitability.