Mandatory notifications of trade and disclosure of shareholding

Oslo, 13 July 2017

North Energy ASA has through its subsidiary Accello Partners
I AS ("Accello") purchased 268,437 shares in Reach Subsea
ASA at a price of NOK 1.9261 per share. The total number of
shares owned by Accello after the transaction is 40,600,000,
which equals 28.34% ownership in Reach Subsea ASA.