Reach Subsea ASA: Update regarding collective bargaining process with SAFE

Haugesund, Norway, 19 October 2026: Reach Subsea ASA ("Reach" or the "Company") provides an update on the ongoing collective bargaining process with SAFE.

The mediation between Reach and SAFE concluded without an agreement by the mediation deadline at midnight on 16 October 2026. As a result, industrial action has commenced and six offshore employees covered by the SAFE Offshore Collective Agreement have been called out on strike.

The Company is currently assessing the operational and financial implications of the industrial action. At this stage, Reach continues to monitor the situation closely and remains focused on maintaining safe and efficient operations across its projects.

Reach remains committed to constructive dialogue with SAFE and to finding a mutually acceptable solution as soon as possible.

The Company will provide further updates should there be any material developments.

For further information, please contact: Arne Joa Chief Financial Officer Reach Subsea ASA E-mail: arne.joa@reachsubsea.com

About Reach Subsea Reach Subsea delivers its services through a versatile fleet of vessels, including survey, IMR, construction support, and remote vessels. Our teams operate worldwide, providing inspection, maintenance, construction support, survey and data services across multiple industries, supporting clients throughout every stage of their project lifecycles. Our offshore teams are powered by advanced ROV technology and backed by onshore engineering expertise, turning complex ocean challenges into reliable solutions. With over 500 skilled professionals and offices in Norway, Sweden, the UK, the US, Brazil, Trinidad, Australia, and Singapore, our vision, 'Sustainable access to ocean space', drives safe, innovative, and sustainable subsea operations.