Reach Subsea ASA – Extraordinary general meeting held

10 Mar 2023 10:41 CET

Reach Subsea ASA – Extraordinary general meeting held

Haugesund, 10 March 2023: Reference is made to the stock exchange announcement
by Reach Subsea ASA ("Reach Subsea" or the "Company") on 16 February 2023
regarding a notice of an extraordinary general meeting of the Company.
An extraordinary general meeting of Reach Subsea ASA was held today, 10 March
2023. The main purpose of the extraordinary general meeting was to (i) approve
issuance of the remaining shares in tranche 2 of the private placement completed
on 15 February 2023, (ii) authorise the Company's Board of Directors (the
"Board") to issue shares in a potential subsequent offering as announced on 15
February 2023 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).

All the proposed resolutions set out in the notice of the extraordinary general
meeting were adopted in accordance with the Board's proposals.

The minutes from the extraordinary general meeting are attached hereto and will
also be made available on the company's webpage 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.

More information:
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584873_Reach Subsea ASA EGM 10.03.23 minutes.pdf