Reach Subsea — Proxy Solicitation & Information Statement 2023

Feb 16, 2023

Reach Subsea ASA – Notice of an extraordinary general meeting

Reach Subsea ASA – Notice of an extraordinary general meeting

Reach Subsea ASA – Notice of an extraordinary general meeting

Haugesund, 16 February 2023: Reference is made to the stock exchange announcement by Reach Subsea ASA ("Reach Subsea" or the "Company") on 15 February 2023 regarding completion of a private placement (the "Private Placement") of new shares in the Company and a potential subsequent offering (the "Subsequent Offering").

In order to (i) issue the remaining number of shares in the Private Placement, (ii) authorise the board to issue shares in a potential Subsequent Offering and (iii) renew the board authorisation to issue shares limited to approx. 10% of the Company's share capital (as originally given in the annual general meeting on 30 May 2022), the Company hereby summon to an extraordinary general meeting (the "EGM") of Reach Subsea ASA which will be held on 10 March 2023 at 10:00 at Reach Subsea's headquarters at Møllervegen 6, 5525 Haugesund, Norway.

Shareholders are kindly requested to use the opportunity to vote in advance or give a proxy, as further described in the attached notice of an EGM, which include notice of attendance - and proxy forms appended to it.

All the documents to be processed at the EGM are available at www.reachsubsea.no

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 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. www.reachsubsea.no