Reach Subsea

Remuneration Information • Aug 30, 2024

Reach Subsea ASA: Award of share options

Reach Subsea ASA: Award of share options

The Board of Directors of Reach Subsea ASA has decided to establish a long-term incentive program for senior executives and key personnel in accordance with the Group’s Remuneration Guidelines. The incentive program encompasses up to 15,000,000 new share options. Under the incentive program, participants will receive share options, which, if certain predefined performance criteria are met within a performance period, can be exercised by paying the predefined strike price. The strike price is set as the nominal value, NOK 1.00. One share option gives a contingent entitlement to one share after paying the strike price. Participants in the incentive program can elect to have up to 50% of their options settled in cash to finance any potential tax expenses.

50% of the options issued will vest after 3 years given a share price above NOK 9.00.

50% of the options issued will vest after 5 years given a share price above NOK 12.00.

The share price hurdles of NOK 9.00 and NOK 12.00 are subject to adjustments for dividends paid during the vesting period.

Primary insiders in the company have been allocated the following grants of options, according to the terms described above:

Jostein Alendal, CEO, has been granted 1,800,000 share options. Following the grant, he holds 1,950,000 options in the company.

Birgitte Wendelbo Johansen, CFO, has been granted 1,800,000 share options. Following the grant, she holds 1,950,000 options in the company.

Inge Grutle, COO, has been granted 1,800,000 share options. Following the grant, he holds 1,950,000 options in the company.

Bård Thuen Høgheim, CCO, has been granted 1,800,000 share options. Following the grant, he holds 1,950,000 options in the company.

Audun Brandtzæg, CTO, has been granted 1,800,000 share options. Following the grant, he holds 1,950,000 options in the company.

For more information please contact:

Birgitte Wendelbo Johansen

Chief Financial Officer

Reach Subsea ASA

bwj@reachsubsea.no

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 Birgitte Wendelbo Johansen, CFO at Reach Subsea AS on the time and date provided.