Reach Subsea - Share Issue/Capital Change 2017

Correction: Key information relating to the subsequent offering

CORRECTION: REACH: Key information relating to the

subsequent offering

Reference is made to announcement by Reach Subsea ASA (the

"Company" or "REACH") on 12 and 13 January 2017 concerning a

NOK 85 million private placement and a NOK 15 million

subsequent offering with non-tradable subscription rights

for eligible shareholders.

Date on which the terms of the subsequent offering was

announced: 12 January 2017

Last day including right to receive subscription rights:

12 January 2017

First day excluding right to receive subscription rights:

13 January 2017

Record date: 16 January 2017

Maximum number of new shares: 8,571,500

Subscription price: NOK 1.75

Shall the rights be listed: NO

The subsequent offering is conditional upon approval of

the private placement and the subsequent offering by an

extraordinary general meeting of the Company expected to be

held 7 February 2017.

For further information, please contact:

Birgitte Wendelbo Johansen

AI assistant