Reach Subsea Asa · OSL:REACH
Reach Subsea Asa — Q1 2026 Earnings Presentation
20 slides from Reach Subsea Asa's earnings presentation, May 5, 2026
Slide 1: Quarterly Consolidated Presentation 1Q 2026
1Q 2026 1Q 2026 Everything within Reach Quarterly Consolidated Presentation Sustainable access to ocean space Jostein Alendal , CEO | Arne Joa, CFO | 5 May 2026 Find out more at reachsubsea.com
Slide 2: Disclaimer
1st Quarter 202 6 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
Slide 3: 1Q Highlights
1st Quarter 1st Quarter 202 620269 1Q Highlights Weaker Results, Reach Remote Entering Scale - Up Phase, Landmark LOI awarded Weaker 1Q than last year , driven by continued low utilisation of assets, increased depreciations, NOK 551.4 million and some unfavourable operational events. Revenue 1Q 2026
Slide 4: Vessel capacity combining visibility and flexibility
1st Quarter 1st Quarter 202 620269 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 Construction - 23% Owned vessels Reach Remote 1 Unmanned and robotics 100% Operational 1600 Re
Slide 5: Where Operational Experience meets Technology Development
D i r e 1st Quarter 20269 Where Operational Experience meets Technology Development c t o r s Where Operational E xperience meets T echnology Development R e p o r t Reach Subsea | Quarterly Consolidated Report 2026
Slide 6: Reach Remote: From concept to proven market success
1st Quarter 2026 18 Reach Remote: From concept to proven market success Reach Remote: From concept to proven market success Concept phase Delivery & mobilisation Pilot phase Sailing permits commercial deployment Reach Remote scale - up 2019 - 2024 Jan 2025 Jan 2025 Apr - Jun Jun 2025 Sep 2025 Mar 20
Slide 7: Reach Remote: Driving value through field experience
1st Quarter 2026 19 Reach Remote: Driving value through field experience Throughout 2025 we have quickly gained track record with key clients in the worlds most demanding environments. Client • Equinor ~ 600 UNCREWED OPERATIONS DAYS • Shell • Statnett • Total Energies Norway • Vår Energi 24/7 Sweden
Slide 8: Reach Horizon – a Web-based Service Portal
Reach Horizon – a Web-based Service Portal 1st Quarter 2026 21 Reach Horizon – a Web - based Service Portal Reach Horizon is a web - based service portal used for remote command and control, real - time data monitoring and sharing of insights. It brings data and system components together in one use
Slide 9: Reach Remote value proposition
www. 1st Quarter 202 6 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 – The Remote Access and Intell
Slide 10: Reach Remote scale-up
Reach Remote scale-up 1st Quarter 2026 25 Reach Remote scale - up Reach Remote has matured into a proven and scalable solution. Building on this foundation, we are now organising how the full Reach Remote model will be separated into its own standalone company. This structure is designed to enable e
Slide 11: Financials
1st Quarter 202 6 Financials Reach Subsea | Quarterly Consolidated Report 2026
Slide 12: 1Q 2026 Highlights
1st Quarter 202 6 1Q 2026 Highlights • The decline in Q1 2026 performance reflects continued pressure from reduced utilization, unfavorable currency movements, higher depreciation charges, compressed project margins, and ongoing investments in the Reach Remote concept. • Reach Remote continues its t
Slide 13: EBIT Bridge – Key Drivers Q4 2025 to Q1 2026
1st Quarter 202 6 EBIT Bridge – Key Drivers Q4 2025 to Q1 2026 (MNOK) Økning Reduksjon Totalt 0 -50 -60,5 -100 -150 -105,0 22,9 -4,1 -200 -12,8 -192,1 -32,7 -250 EBIT Q4 2025 Project result ex idle cost Utilisation effect Impairment Foreign Exchange Other EBIT Q1 2026 Reach Subsea | Quarterly Consol
Slide 14: EBIT Bridge – Key Drivers Q1 2025 to Q1 2026
1st Quarter 202 6 EBIT Bridge – Key Drivers Q1 2025 to Q1 2026 (MNOK) Økning Reduksjon Totalt 100 68,0 50 0 -101,9 -50 -100 -150 -107,5 -11,7 -200 -39,0 -192,1 -250 EBIT Q1 2025 Project result ex idle cost Utilisation effect Foreign Exchange Other EBIT Q1 2026 Reach Subsea | Quarterly Consolidated R
Slide 15: 1Q 2026 Revenue mix by segments
1st Quarter 202 6 1Q 2026 Revenue mix by segments • Renewables and others now represents the largest sector Revenue mix by sector Revenue mix by segment Revenue mix by geography by revenue, marking a 800 significant milestone in the 800 800 portfolio transition 700 700 700 • Strong international pre
Slide 16: A Solid Financial Platform
1st Quarter 202 6 A Solid Financial Platform Maintaining a Solid Financial Foundation (MNOK) 1 292 1 272 1 229 1 218 1 092 1 028 1 032 928 938 931 • Healthy equity level, 851 811 although somewhat 801 791 reduced from peak levels • Cash and working capital 607 579 554 development reflects continued
Slide 17: Sustainability highlights of the quarter
1st Quarter 202 6 Sustainability highlights of the quarter Environment Social Governance Reach Remote confirming 90% Safety at the core Cybersecurity on the agenda reduction in emissions. In Q1 2026, Reach recorded zero lost - time and In response to rising market and regulatory In Q1 2026, the cont
Slide 18: Summary
1st Quarter 202 6 Summary Reach Subsea | Quarterly Consolidated Report
Slide 19: Short-Term Utilisation Pressure, Strong Long-Term Strategic Position
1st Quarter 202 6 Short - Term Utilisation Pressure, Strong Long - Term Strategic Position 1Q below ambitions, corrective Flexible fleet positioned for Landmark step towards actions implemente d further evolution long - term visibility Results were impacted by lower vessel utilization, Our adaptable
Slide 20: Q&A
1st Quarter 202 6 Q&A Reach Subsea | Quarterly Consolidated Report