REACH: Disclosure of large shareholding

On 15 November, 2023, Reach Subsea ASA announced the issuance of 15,469,682 new shares as part of the consideration in its acquisition of Guardian Geomatics. As a result of the issuance of the new shares, the ownership of Wilhelmsen New Energy AS, a wholly owned subsidiary of Wilh. Wilhelmsen Holding ASA, has been reduced from 20.4% to 19.2% of the shares and votes in Reach Subsea ASA, thereby falling below the disclosure threshold of 20%.

This announcement is made pursuant to section 4-2 of the Securities Trading Act.