Reach Subsea

Earnings Release • Sep 20, 2023

Sustainable access to the ocean space

Jostein Alendal – CEO

Pareto Securities' Energy Conference 20 September 2023

Reach Subsea Key take-aways

Rapid growth and solid profit momentum –

Perfectly positioned for continued strong development

A global leader in subsea and marine robotics, securing long-term sustainable growth and value creation

Market set for continued strong growth

Source: Rystad Energy/NORWEP. Excluding internal expenditure. For the US, only GoM is included

Complete provider of subsea services

IMR, ROV, survey, construction support and decommissioning services within the renewable and oil and gas industry

management

Survey and data processing Geophysical and Environmental monitoring

Well positioned in key growth segments

CCS

Oil & gas Offshore wind Offshore cables Emerging sectors

New installations Surveying Maintenance Monitoring Decommissioning

Surveying New installations Inspection Maintenance

Route Surveying New installations Inspection

Surveying Reservoir monitoring Offshore fish farming Subsea mining Environmental surveillance

Client network, fleet, competence and service offering well positioned in all growth segments

Revenue and profits raised to record levels

Revenue increased 159 percent* last 24 months

Last 12 months Revenue (MNOK)

Last 12 months EBIT and Pre-tax profit

• Strong liquidity and equity positions
• Positioned for remaining investments in Reach Remote and mobilizations and equipment for the coming year

Vessel capacity for long-term growth

Larger tenders with longer visibility Tender volume increased from 2 to 5bNOK

Reach Remote: Global leadership position in subsea and marine robotics

World-leading unmanned subsea support vessels serve as door opener in new markets

Reach Remote subsea vessels ready for commercial launch in 2024

Offering superior project economics, very positive emission data and strong client benefits

Lower CAPEX

Lower Daily OPEX

Lower emissions

We expand globally

Oslo

Bergen

Haugesund

Aberdeen

Brazil

Trinidad & Tobago

Houston

Singapore

Australia

Reach Remote in all time zones

Reach Subsea Key take-aways

Rapid growth and solid profit momentum –

Perfectly positioned for continued strong development

A global leader in subsea and marine robotics, securing long-term sustainable growth and value creation