Contract award Skandi Achiever and restructuring update

DOF Subsea is pleased to inform that the diving support vessel Skandi Achiever has been awarded a contract extension with Petrobras for ROV and diving services until 4[th] quarter 2022. As disclosed in the 2[nd] quarter Financial Report, DOF Subsea has entered into a settlement agreement with a secured lender, subject to certain conditions. All conditions related to the settlement agreement has now been fulfilled. As a result of the above agreement, the share of the secured lenders in DOF Subsea Group (excl. DOF Subsea Brasil Ltda.) supporting the suspension agreements has increased from 88% to 95%. For further information, please contact: CEO Mons Aase, tel. +47 91 66 10 12 CFO Hilde Drønen tel. +47 91 66 10 09 With a multi-national workforce of about 3,800 personnel, DOF ASA is an international group of companies which owns and operates a fleet of modern offshore/subsea vessels, and engineering capacity to service both the offshore and subsea market. With 40 years in the offshore business, the group has a strong position in terms of experience, innovation, product range, technology and capacity. DOF's core businesses are vessel ownership, vessel management, project management, engineering, vessel operations, survey, remote intervention and diving operations primarily for the oil and gas sector. From PSV charter to Subsea engineering, DOF offers a full spectrum of top quality offshore services to facilitate an ever-growing and demanding industry. The company's main operation centers and business units are located in Norway, the UK, the USA, Singapore, Brazil, Argentina, Canada, Angola, and Australia. DOF ASA is listed on the Oslo Exchange since 1997.