Reach Subsea ASA - Exercise of warrants by Primary Insider

05 Mar 2025 19:11 CET

Reach Subsea ASA - Exercise of warrants by Primary Insider

5 March 2025: Wilhelmsen New Energy AS (“Wilhelmsen”) has today exercised its
remaining 44,707,373 warrants with a strike of NOK 3.28 per share (the
“Exercise”) in Reach Subsea ASA (the “Company”). The exercise of warrants will
provide the Company with approximately NOK 147 million in new equity to finance
its growth initiatives, and increases Wilhelmsen’s ownership to approximately
30% of the share capital and votes. Following the exercise, Wilhelmsen no longer
holds any remaining warrants in the Company.

Executive Vice President Wilhelmsen, Geir Flæsen, states the following:
“Increasing our stake in Reach Subsea reinforces our commitment to this
strategic investment and highlights the role we see Reach playing as a platform
for future growth. As part of Wilhelmsen, this investment aligns with our
ambition to shape the maritime industry and build viable, next-generation
solutions.”

Wilhelmsen is closely associated with Espen Gjerde (represented on the Board of
Directors of Reach Subsea ASA). Please see attached notification form for
further details.

This disclosure is made pursuant to article 19 of the EU Market Abuse Regulation
and section 5-12 of the Norwegian Securities Trading Act.

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 high quality solutions and
technology to clients in need of ocean data and services. Services are offered
out of our head office in Haugesund as well as from our subsidiaries and
branches located across Norway, US, UK, Cyprus, Singapore, Trinidad, Brazil and
Australia. The Group’s objective is to be a preferred partner and full-service
provider of ocean services for clients, focusing on safety, environment,
financial solidity and profitability. Our vision “Sustainable access to ocean
space” underpins our commitment to the development of sustainable solutions,
with stakeholder groups key interests in focus.

This stock exchange announcement was published by Birgitte Wendelbo Johansen,
Chief Financial Officer at Reach Subsea ASA on the time and date provided.

More information:
Access the news on Oslo Bors NewsWeb site

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