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.

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