Reach Subsea

Earnings Release • Jun 3, 2024

Reach Subsea extended 3-year charter on Havila Subsea.

Reach Subsea extended 3-year charter on Havila Subsea.

Haugesund, 03 June 2024: Reach Subsea ASA has entered an agreement with Havila Shipping ASA to extend the firm charter period for the IMR, survey and construction vessel Havila Subsea with 3 years until 31.12.2027. The contract includes additional options for 1 + 1 years.

“In a rising market, maintaining strong operational control over core assets is crucial. We are witnessing ongoing positive market trends, with our order book and tender volume consistently increasing year by year, in line with our expanding capacity. A key component of our strategy is maintaining strong partnerships with shipowners known for their high-quality, safe, and cost-efficient performance. Our collaboration with Havila Shipping ASA since 2017 has been exceptionally positive, and we look forward to continuing this successful relationship in the years to come,” said Jostein Alendal, CEO of Reach Subsea.

The agreement is made between two parties who know each other very well after many years of collaboration. Njål Sævik, CEO of Havila Shipping, says he looks forward to continuing the good cooperation.

"I see this contract as a great recognition for Havila Shipping, Havila Subsea, and not least the crew on board for their efforts in keeping the ship in top class and ensuring that we deliver high-quality services every single day."

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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, Group Communication and Marketing Director at Reach Subsea on the time and date provided.