Reach Subsea - Share Issue/Capital Change 2016

NEW SHARES

Reference is made to the stock exchange notice of

30.05.2016 regarding the completion of the private

placement.

Normand Drift AS was granted 5,000,000 shares in the

private placement, and holds thereafter 5,000,000

shares in the Company, which equals to 5,4799% of all

shares and votes in the Company upon registration of

the share issue. Solstad Offshore ASA was further

granted 4,000,000 warrants. Being group companies

Normand Drift AS and Solstad Offshore ASA are to be

consolidated according to the Securities Act section

2-5 nr. 3, and hold jointly 9.000.000 shares and

warrants upon registration of the private placement.

This constitutes 9,86 % of the share capital of the

Company upon registration of the placement.

West Supply II Operation AS was granted 5,000,000

shares in the private placement, and 5,000,000 shares

in the Company, which equals to 5,4799 % of all shares

and votes in the Company.

For additional information, please contact: Birgitte

W. Johansen (CFO): 47 99 45 12 79.

This information is subject of the disclosure

requirements pursuant to section 5-12 of the Norwegian

Securities Trading Act

AI assistant