Haugesund, 16 November 2023: Reference is made to the stock exchange
announcement published by Reach Subsea ASA (the "Company") on 6 October 2023
regarding an agreement to acquire 100 percent of the shares of the Australian
marine survey company Guardian Geomatics Pty Ltd. (the "Transaction"). Reference
is further made to the stock exchange announcement published by the Company on
15 November 2023 regarding a resolution to increase the share capital through
the issuance of 15,469,682 new shares (the "Consideration Shares") to the
selling shareholders in the Transaction.
  
The share capital increase pertaining to the issuance of the Consideration
Shares has now been registered with the Norwegian Register of Business
Enterprises. 
The Company's new share capital is NOK 270,919,245 divided into 270,919,245
shares, each with a par value of NOK 1.

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 and Brazil. 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 subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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© Oslo Bors ASA, source Oslo Stock Exchange