Reach Subsea — Share Issue/Capital Change 2018

Sep 11, 2018

Reach Subsea ASA - Exercise of options

Reach Subsea ASA - Exercise of options

Exercise of options

Exercise of employee share options in company Reach Subsea ASA ("the Company").

1. Participants in the Company's share option program have on September 11th 2018 exercised a total number of 306,483 options. Following the share option exercise, the Board of Directors, pursuant to authorization granted by the company`s Annual General Meeting, has resolved to increase the Company`s share capital by NOK 306,483 by issuing 306,483 new shares, of par value NOK 1. Following the increase the Company`s share capital is NOK 143,546,008 divided into 143,546,008 shares.

2. Options exercised by primary insiders September 11th 2018: Høgheim, Bård Thuen has exercised 60,000 options in the Company, corresponding to 60,000 shares at the strike price of NOK 1.75 and 60,000 options in the Company, corresponding to 60,000 shares at the strike price of NOK 2.00.

3. New holding

After exercising options, Høgheim, Bård Thuen holds 240,000 unexercised options in the Company, corresponding to 120,000 shares at the strike price of NOK 1.75 and 120,000 shares at the strike price of NOK 2.00. After completion of the abovementioned transactions, the primary insider holds 390,625 shares in the Company.

The total number of unexercised options in Reach Subsea ASA will after these transactions be 3,188,347.

For further information, please contact:

Birgitte W Johansen (CFO)