Cooperation update

Reach Subsea ASA’s (“Reach”) partner MMT Sweden AB (“MMT”) has been acquired by
Ocean Infinity in a transaction that was made public today. Reach and MMT has a
pool cooperation where the risk and profit on certain vessels are shared, as
well as a 50/50 ownership in Surveyor AS which owns our two high speed survey
ROVs (Surveyor).

The successful pool cooperation between Reach and MMT will continue unchanged,
with the only difference being that MMT is now owned by an industrial
shareholder with strong ambitions. We will continue to build on the track record
we have developed together offering our clients the same great service they have
been used to from Reach and MMT.

For further questions, please contact:
Birgitte Wendelbo Johansen, CFO