Reach Subsea Asa · OSL:REACH
Reach Subsea Asa — Q3 2025 Earnings Presentation
16 slides from Reach Subsea Asa's earnings presentation, Nov 18, 2025
Slide 1: Quarterly Consolidated Presentation 3Q 2025
3Q Q3 2025 2024 Everything within Reach Quarterly Consolidated Presentation Sustainable access to ocean space Jostein Alendal, CEO | Arne Joa, CFO | 18 November 2025 Find out more at reachsubsea.com
Slide 2: Disclaimer
3rd Quarter 2025 Disclaimer IMPORTANT – You must read the following before The Information has been prepared by the future business strategies and the environment in This presentation contains statistics, data, continuing. The following applies to this document, Company, and no other party accepts a
Slide 3: Weaker Results, Solid Performance on Remote Milestones
3rd3rd Quarter 2025 Quarter 2025 9 Weaker Results, Solid Performance on Remote Milestones Weaker 3Q than last year driven by lower- than-expected utilisation of assets and NOK 688 million extraordinary implementation costs Revenue 3Q 2025 associated with the Reach Remote concept. Completed the appro
Slide 4: Vessel capacity combining visibility and flexibility
3rd3rd Quarter 2025 Quarter 2025 9 Vessel capacity combining visibility and flexibility VESSEL TYPE OWNERSHIP STATUS 2025 2026 2027 2028 2029 Order backlog Viking Reach Survey, IMR, Light 49.9% Operational -30% Owned vessels Construction 1600 Reach Remote 1 Unmanned and robotics 100% Operational 150
Slide 5: Our business
3rd Quarter 2025 Our business 1 Our service capabilities Delivering tailored solutions and specialised services for the global offshore industry. 2 Serving a range of industries Our expertise supports multiple industries, ensuring efficient and reliable operations. 3 Supporting projects, start to fi
Slide 6: Reach Remote value proposition
3rd Quarter 2025 15 Reach Remote value proposition Energy Companies Construction & Installation Companies Government Entities Emerging Marine & Subsea Industries Reach Remote: Bringing operations to you for safer, smarter, and more efficient decisions. Reach Horizon is the intelligence hub for offsh
Slide 7: Financials
3rd Quarter 2025 Financials Reach Subsea | Quarterly Consolidated Report
Slide 8: 3Q 2025 Highlights
3rd Quarter 2025 3Q 2025 Highlights • Weaker 3Q than last year caused by reduced asset utilization and costs related to Reach Remote • 3Q revenue at NOK 688 million and EBIT at NOK 50.6M • Inaugural bond issuance of NOK 500 million in July 2025 • Secured attractive debt financing for Reach Remote 3
Slide 9: EBIT Bridge – Key Drivers Q2 to Q3 2025
3rd Quarter 2025 EBIT Bridge – Key Drivers Q2 to Q3 2025 (MNOK) 120 19,4 100 91,1 80 -30,6 60 50,6 -28,9 -0,3 40 20 0 EBIT Q2 Proj.res ex idle cost Utilisation effect Reach Remote Other EBIT Q3 Reach Subsea | Quarterly Consolidated Report
Slide 10: EBIT Bridge – Key Drivers Q3 2024 to Q3 2025
3rd Quarter 2025 EBIT Bridge – Key Drivers Q3 2024 to Q3 2025 (MNOK) 160 140 1,9 134,1 120 100 -36,6 80 60 1,1 50,6 -49,9 40 20 0 EBIT Q3 2024 Project result ex idle cost Utilisation effect Reach Remote Other EBIT Q3 2025 Reach Subsea | Quarterly Consolidated Report
Slide 11: 3Q 2025 Revenue mix by segments
3rd Quarter 2025 3Q 2025 Revenue mix by segments Revenue mix by sector Revenue mix by segment Revenue mix by geography 900 900 900 800 800 800 88 • Continued diversification across sectors, segments and 254 700 geographies 700 700 24 76 600 600 600 505 345 500 301 500 500 • Healthy revenue mix with
Slide 12: Positioned for Growth
3rd Quarter 2025 Positioned for Growth Solid financial position (MNOK) 1 292 1 272 1 229 1 092 • Strong liquidity and equity 1 028 positions (Equity Ratio ~ 35 %) 928 938 931 851 811 • Well-positioned for further investments in Reach 579 Remote and technology 554 updates 447 414 374 350 331 315 287
Slide 13: Sustainability highlights of the quarter
3rd Quarter 2025 Sustainability highlights of the quarter Environment Social Governance Operational maturity of remote services Safety at the core Process for ISO27001 certification So far this year, 2 lost-time injuries and 1 work- Cybersecurity remained a key ESG priority in Year-to-date, 7 remote
Slide 14: Summary
3rd Quarter 2025 Summary Reach Subsea | Quarterly Consolidated Report
Slide 15: Positioned for continued growth
3rd Quarter 2025 Positioned for continued growth ATTRACTIVE LONG TERM POSITIONED FOR GROWTH STRONG CAPABILITIES MARKET OUTLOOK Expanded service offerings, long-term Strong execution, proven track record in Well-positioned in a dynamic market, vessel capacity, and a global footprint. Focus subsea sol
Slide 16: Q&A
3rd Quarter 2025 Q&A Reach Subsea | Quarterly Consolidated Report