Reach Subsea — Director's Dealing 2022

Dec 17, 2022

REACH SUBSEA ASA – Notification of trade by close associate of primary insider

REACH SUBSEA ASA – Notification of trade by close associate of primary insider

REACH SUBSEA ASA – Notification of trade by close associate of primary insider

North Energy ASA announces the establishment of a new fully owned subsidiary “North Industries 1 AS” and the subsequent transfer of 46 126 567 shares at a price of 4.04 per share in Reach Subsea ASA to the newly established subsidiary.

North Energy ASA and North Industries AS is close associates of primary insider Rachid Bendriss (chairman of the Board in Reach Subsea ASA).

As a consequence of the restructuring and the transfer, North Industries 1 AS holds 46 126 567 shares in Reach Subsea, representing 20,5% of the shares in the company.

After the transfer North Energy ASA do not directly hold any shares in Reach Subsea ASA. However, at North Energy’s group level there is no change in the ownership of Reach Subsea ASA.

Instrument details:

Reach Subsea ASA

LEI: 5967007LIEEXZXK7FS45

ISIN: NO0003117202

For additional information, please contact:

Rachid Bendriss, co-CEO

(+47) 926 60 603

rb@northenergy.no

This information is subject to the disclosure requirements in article 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.

This message was issued by Birgitte Wendelbo Johansen, CFO in Reach Subsea ASA, at 17.12.2022 11:03.