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Styret i DOF ASA har besluttet å oversende forslag til rekonstruksjonsplan til rekonstruktøren og konsernets finansielle kreditorer og vil utarbeide en innkalling til ekstraordinær generalforsamling for å behandle dette forslaget forutsatt at de finansielle kreditorene og rekonstruktøren støtter forslaget. Rekonstruksjonsplanen vil nå bli forelagt de finansielle kreditorene for godkjenning. Samtidig vil styret arbeide for å dokumentere tilslutning til planen fra et tilstrekkelig antall aksjonærer. Planen har allerede fått tilslutning fra Møgster Offshore AS som eier ca. 31 75 prosent av selskapets aksjer. Forslaget er ellers identisk med det forrige forslaget. – Styret fremmer dette forslaget til rekonstruksjon etter grundige overveiinger og utstrakt kontakt med kreditorer og aksjonærer. Styret mener det ville være umulig å oppnå tilstrekkelig tilslutning blant aksjonærene for en løsning der de kun ville eie én prosent av selskapet etter gjeldskonvertering. Likeledes vil det etter styrets mening være umulig å oppnå aksept blant kreditorene for mer enn 3 75 prosent til de eksisterende aksjonærene sier Leif Chr. Salomonsen styreleder i DOF ASA. Det nye styrets arbeid På generalforsamlingen 14. desember 2022 valgte aksjonærene i DOF ASA nytt styre. Det nye styret noterte seg at toneangivende aksjonærer mente de ikke hadde tilstrekkelig informasjon til å ta stilling til det fremlagte forslaget om restrukturering. Det nye styret startet derfor umiddelbart arbeidet med å få oversikt over relevant og oppdatert informasjon om situasjonen i selskapet herunder spesielt verdivurderinger og vurderinger av likviditet og fremtidig kontantstrøm. Parallelt utredet styret om det kunne være mulig å oppnå enighet med de finansielle kreditorene om alternative løsninger som ville kunne gi aksjonærene en større andel av selskapets verdier og fremtidig verdiskaping enn det opprinnelige forslaget. Styret har i perioden hatt jevnlig kontakt og møter med representanter for selskapets aksjonærer og for selskapets kreditorer og deres rådgivere. Målet med denne kontakten og møtene har vært å sondere muligheten for andre løsninger herunder blant annet refinansiering av gjelden salg av skip og emisjon. Dessverre har ingen av disse løsningene latt seg realisere. Veien videre Basert på forutgående sonderinger anser styret at det nå foreliggende forslaget er et rimelig kompromiss som bør få tilstrekkelig flertall blant selskapets kreditorer og aksjonærer. Selskapets hovedaksjonær har bekreftet støtte til planen under forutsetning av at kreditorene gir sin tilslutning. Styret vil i dagene som kommer søke å innhente ytterligere forhåndsaksepter fra aksjonærer. Samtidig forbereder selskapet en nærmere redegjørelse av selskapets resultat og kontantstrøm i fjerde kvartal og for året 2022 som helhet og balanseverdier per 31. desember 2022. Dette er informasjon som vil bli gjort tilgjengelig for markedet før den ekstraordinære generalforsamlingen. Ingen garantert løsning Selv om det anses som mulig at styrets forslag vil kunne oppnå tilstrekkelig støtte fra aksjonærer og kreditorer understreker styret at det ikke kan utstedes noen garanti for at løsningen aksepteres. I den situasjonen selskapet nå er kan selskapets finansielle kreditorer når som helst meddele rekonstruktøren at de ikke vil bidra til en løsning som den som foreslås av styret. I så fall vil rekonstruktøren be Hordaland tingrett om å innstille rekonstruksjonsprosessen og åpne konkurs i DOF ASA. Dersom løsningen ikke oppnår tilstrekkelig flertall blant aksjonærene vil resultatet være det samme. Det vil da være opp til Hordaland Tingrett å vurdere om det er grunnlag for å slå DOF ASA konkurs. Solvens eller ikke Det avgjørende for Hordaland tingretts konklusjon vil være om det basert på blant annet innberetningen fra rekonstruksjonsutvalget er utsikt til at DOF ASA vil kunne oppnå en rekonstruksjon. Hvorvidt selskapet er solvent eller ikke er i utgangspunktet ikke avgjørende. For det tilfelle at retten likevel vil se nærmere på solvensspørsmålet vil den se hen til hvorvidt verdien av eiendelene til DOF ASA (det vil si aksjer i datterselskapet DOF Services AS) er mer verdt enn gjelden i DOF ASA samt likviditeten. Dette spørsmålet vil i praksis bero på om verdiene av eiendelene til DOF-konsernet som kan realiseres i en konkurs er større enn gjelden. Det er altså ikke verdien av eiendelene i DOF som going concern det handler om. For å belyse dette spørsmålet har styret i DOF ASA innhentet og vurdert uavhengige vurderinger av verdiene i DOF-konsernet. Skipsmeglerne Fearnleys og Clarkson har vurdert verdien på DOF-konsernets skip. Rådgivingsselskapet Deloitte har gjennomgått disse og vurdert de opp mot selskapets gjeld andre forpliktelser og tilgjengelige likvide midler. Deloitte har også vurdert verdien på DOF-konsernets øvrige virksomhet herunder eierandelen i DOFCON og prosjekt- og engineering-virksomheten. Vurderingene som nå foreligger er basert på skipsverdier per 31. desember 2022. De viser at skipsverdiene i amerikanske dollar har økt siden 31. september 2022. En svakere dollar har motsatt effekt og fjerner mye av verdiøkningen målt i kroner. Svakere dollar reduserer imidlertid også kroneverdien av selskapets gjeld. Endelig rapport fra Deloitte foreligger fortsatt ikke. Styret har derfor ikke endelig kunnet konkludere hvorvidt selskapet vil være å anse som insolvent men anser det som sannsynlig. Styrets anbefaling Dersom tingretten åpner konkurs i DOF ASA vil kreditorene overta alle verdier i DOF ASA og aksjonærene tape alt. Selv om Hordaland tingrett likevel ikke skulle åpne konkurs i DOF ASA vil garantiansvaret som DOF ASA har på vegne av sine datterselskap bestå. Det er således helt usannsynlig at aksjonærene i noe scenario ville kunne få mer verdier enn styrets foreslåtte løsning.. Basert på ovenstående analyser og vurderinger er det styrets klare oppfatning at den beste løsningen for selskapet og for samtlige av selskapets interessenter aksjonærer så vel som kreditorer vil være at styrets forslag til rekonstruksjon blir gjennomført. – Styret skulle gjerne sett at aksjonærene fikk beholde en større del av selskapet enn det forslaget legger opp til. Dersom man hadde kunnet stille klokken tilbake og startet forhandlingene med kreditorene på nytt i dag så hadde det kanskje vært mulig. Det er imidlertid et faktum at konsernet har ca. 25 milliarder kroner i gjeld som det i det alt vesentlige ikke har vært betalt verken renter eller avdrag på i over to år sier Salomonsen. – Vi er allerede på overtid og trenger en løsning nå. Selskapet har levd på kreditorenes nåde i lang tid. Med styrets forslag vil eksisterende aksjonærer eie 3 75% av et styrket DOF ASA selskapet vil videreføre sin virksomhet og aksjonærene vil få ta del i den verdiskapingen som mange forventer vil skje i tiden som kommer konkluderer Salomonsen. For ytterligere informasjon vennligst kontakt: Styreleder DOF ASA: Leif Chr. Salomonsen tel.: +47 992 42 888

The board of directors of DOF ASA has decided to submit a proposal for a restructuring plan to the reconstructor and the DOF group's financial creditors and will prepare a notice convening an extraordinary general meeting to consider this proposal there will be no prospect that the company will be able to achieve a reconstruction and the court will probably open bankruptcy after a report from the reconstruction committee. The business will continue to operate as today through the subsidiary DOF Service AS and its underlying companies. However shareholder value will in all likelihood be lost. The restructuring proposal is based on the restructuring agreement that was negotiated between the company and the creditors and voted down at the extraordinary general meeting on 11 November 2022. A key point in the restructuring agreement is how much of the company the existing shareholders should retain after debt has been converted to equity. The original proposal would have meant that shareholders would own 4 percent of the shares in the company. After this proposal was voted down it was likely that the shareholders would end up with a 1 percent stake. The proposal that the board has now submitted means that the existing shareholders will own 3.75 per cent of the company's shares after debt conversion. The proposal is otherwise identical to the previous proposal. - The Board is submitting this proposal for reconstruction after careful consideration and extensive contact with creditors and shareholders. The Board of Directors believes that it would be impossible to obtain sufficient support among shareholders for a solution where they would only own 1 percent of the company after debt conversion. Similarly the Board believes that it would be impossible to achieve acceptance among the creditors for more than 3.75 percent to the existing shareholders says Leif Chr. Salomonsen Chairman of the Board of DOF ASA. The work of the new board At the Annual General Meeting on 14 December 2022 the shareholders of DOF ASA elected a new Board of Directors. The new Board of Directors noted that leading shareholders felt that they did not have sufficient information to take a position on the restructuring proposal presented. The new board therefore immediately started the work of obtaining an overview of relevant and updated information about the situation in the company including in particular valuations and assessments of liquidity and future cash flow. In parallel the board investigated whether it might be possible to obtain agreement with the financial creditors for any alternative solutions that could give shareholders a larger share of the company's assets and future value creation than the original proposal. In this period the board has had regular contact and meetings with representatives of the company's shareholders and the company's creditors and their advisers. The aim of these contacts and meetings has been to explore the possibility of other solutions including refinancing of the debt sale of ships and a share issuance. Unfortunately none of these solutions have been possible to realize. The way forward Based on preceding dialogue the Board considers that the current proposal is a reasonable compromise that should receive a sufficient majority among the company's creditors and shareholders. The company's main shareholder has confirmed support for the plan subject to the creditors' approval. In the coming days the Board will seek to obtain further pre-acceptances from shareholders. At the same time the company is preparing a more detailed statement of the company's results and cash flow in the fourth quarter and for the year 2022 as a whole and balance sheet values as of 31 December 2022. This information will be made available to the market prior to the Extraordinary General Meeting. No guaranteed solution While it is considered possible that the Board’s proposal will be able to obtain sufficient support from shareholders and creditors the Board stresses that there are no guarantees that the solution will be accepted. In the current situation of the company the company's financial creditors could at any time notify the reconstructor that they will not contribute to a solution such as the one proposed by the board. In that case the reconstructor will ask Hordaland District Court to suspend the restructuring process and open bankruptcy in DOF ASA. If the solution does not achieve a sufficient majority among the shareholders the result will be the same. It will then be up to Hordaland District Court to assess whether there are grounds for declaring DOF ASA bankrupt. Solvent or not The decisive factor for Hordaland District Court's conclusion will be whether based on inter alia the report from the reconstruction committee it is likely that DOF ASA will be able to achieve a restructuring. Whether the company is solvent or not is in principle not decisive. In the event that the court nevertheless decides to look further into the solvency issue it will consider whether the value of the assets of DOF ASA (i.e. shares in the subsidiary DOF Services AS) is worth more than the debt in DOF ASA as well as the liquidity. In practice this question will depend on whether the value of the assets of the DOF Group that can be realised in a bankruptcy is greater than the debt. Thus it is not the value of the assets of DOF as a going concern that is at issue. In order to shed light on this question the Board of Directors of DOF ASA has obtained and assessed independent valuations of the DOF Group's assets. The shipbrokers Fearnleys and Clarkson have assessed the value of the DOF Group's vessels. The advisory firm Deloitte has reviewed these and assessed them against the company's debt other liabilities and available liquid assets. Deloitte has also assessed the value of the DOF Group's other activities including the shares in DOFCON and the engineering services. The assessments now available are based on vessel values as of 31 December 2022. They show that vessel values in US dollars have increased since 31 September 2022. A weaker dollar has had the opposite effect removing much of the increase in value measured in NOK. However a weaker dollar also reduces the krone value of the company's debt. The final report from Deloitte is still pending. The Board of Directors has therefore not been able to reach a final conclusion as to whether the company will be considered insolvent but considers it probable. The Board's recommendation If the district court opens bankruptcy in DOF ASA the creditors will take over all assets in DOF ASA and the shareholders will lose everything. Even if Hordaland District Court does not open bankruptcy in DOF ASA the guarantee liability that DOF ASA has on behalf of its subsidiaries will remain. It is thus completely unlikely that the shareholders in any scenario could receive more value than the Board's proposed solution. Based on the above analyses and assessments it is the Board's clear opinion that the best solution for the company and for all of the company's stakeholders shareholders as well as creditors will be that the Board's proposal for reconstruction is implemented. - The Board would have liked to see the shareholders retain a larger share of the company than the reconstruction suggests. If it had been possible to turn back the clock and restart negotiations with the creditors today this might have been possible. However it is a fact that the DOF Group has approximately NOK 25 billion in debt on which for the most part neither interest nor instalments have been paid for more than two years says Salomonsen. - ""We are already in overtime and need a solution now. The company has been living at the mercy of its creditors for a long time. With the Board's proposal the existing shareholders will own 3.75% of a strengthened DOF ASA the company will continue its operations and the shareholders will participate in the value creation that many expect will take place in the time to come Salomonsen concludes. For further information please contact: Chairman DOF ASA: Leif Chr. Salomonsen tlf.: 992 42 888"

DOF Subsea Asia Pacific Pte Ltd has been awarded a contract to provide construction support for riser and spool installation including air and saturation diving in association with a brownfield expansion project in Malaysia. The award includes project management with an in-built saturation diving system and 140Te AHC crane is ideally suited to these operations. Mons Aase CEO DOF Subsea AS said “We look forward to safely and successfully delivering this project for our client.” For further information please contact: Mons S. Aase CEO DOF Subsea. Tel: +47 91 66 10 12 Marianne Møgster SVP Finance DOF Subsea. Tel: +47 99 30 69 16 About DOF Subsea: The DOF Subsea Group is a specialist subsea service business that provides subsea construction subsea engineering inspection repair and maintenance and survey services which involve complex and challenging engineering in an international environment. DOF Subsea owns a large fleet of modern subsea construction intervention and survey vessels that enable it to offer differentiated positions with its clients and work in long term relationships which enhance service delivery and reduce the overall risk. The company’s core business is project management engineering vessel operations survey remote intervention and diving operations primarily for the Offshore Energy Marine Telecommunications and Renewables markets. www.dofsubsea.com

The board of directors of the subsidiaries of DOF ASA has received a new letter from the financial creditors of the DOF Group tel. +47 91 62 10 57 About DOF Subsea: The DOF Subsea Group is a specialist subsea service business that provides subsea construction subsea engineering inspection repair and maintenance and survey services which involve complex and challenging engineering in an international environment. DOF Subsea owns a large fleet of modern subsea construction intervention and survey vessels that enable it to offer differentiated positions with its clients and work in long term relationships which enhance service delivery and reduce the overall risk. The company’s core business is project management engineering vessel operations survey remote intervention and diving operations primarily for the Offshore Energy Marine Telecommunications and Renewables markets. www.dofsubsea.com

Reference is made to DOF ASA's previous announcements on 23 November 2022 and 9 December 2022 the Board will work closely with the company’s management its creditors and other stakeholders that are central to the company’s future."" This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Hilde Drønen CFO DOF ASA. About DOF Subsea: The DOF Subsea Group is a specialist subsea service business that provides subsea construction subsea engineering inspection repair and maintenance and survey services which involve complex and challenging engineering in an international environment. DOF Subsea owns a large fleet of modern subsea construction intervention and survey vessels that enable it to offer differentiated positions with its clients and work in long term relationships which enhance service delivery and reduce the overall risk. The company’s core business is project management engineering vessel operations survey remote intervention and diving operations primarily for the Offshore Energy Marine Telecommunications and Renewables markets. www.dofsubsea.com"

DOF is proud to have disclosed our Environmental Data on environmental impacts and risks through CDP for 2022, alongside 18,700+ companies. We’ve been reporting our environmental performance through CDP every year since 2010 and are pleased to share our result of A- (up from last year's B). Corporate commitment to meaningful action is now more critical than ever. Great work team DOF.

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Det vises til børsmeldingen publisert av DOF ASA 23. november 2022 angående innkalling til ekstraordinær generalforsamling den 14. desember 2022 med forslag fra Bjarte Brøndmo og Sans Invest AS om valg av nytt styre i DOF ASA. Bjarte Brøndmo/Sans Invest AS har nå fremsatt følgende forslag til nytt styre: Leif Salomonsen (styreleder) Beatriz Malo de Molina Merete Haugli Tore Grøttum Bjarte Brønmo CVer for de foreslåtte styremedlemmene er etterspurt og vil bli lagt ut på selskapets hjemmeside når de mottas. Denne informasjonen er informasjonspliktig etter verdipapirhandelloven § 5-12. Med en multinasjonal arbeidsstyrke på rundt 3.900 ansatte teknologi og kapasitet. DOFs kjernevirksomhet er fartøyseierskap fartøysledelse prosjektledelse engineering fartøysoperasjoner kartlegging fjernintervensjon og dykkeoperasjoner primært for olje- og gassektoren. Fra PSV charter til Subsea engineering DOF tilbyr et komplett spekter av offshoretjenester av topp kvalitet for å legge til rette for en stadig voksende og krevende industri. Selskapets viktigste driftssentre og forretningsenheter er lokalisert i Norge Storbritannia USA Singapore Brasil Argentina Canada Angola og Australia. DOF ASA har vært notert på Oslo Børs siden 1997.

Reference is made to DOF ASA's previous announcement on 23 November 2022 regarding the notice of the Extraordinary General Meeting on 14 December 2022 to consider the proposal from Bjarte Brøndmo and Sans Invest AS to elect a new Board in DOF ASA. Bjarte Brøndmo/Sans Invest AS have now submitted the following proposed new Board: Leif Salomonsen (chair) Beatriz Malo de Molina Merete Haugli Tore Grøttum Bjarte Brønmo CVs for the proposed board members have been requested and will be published on the company's website when received. This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. With a multi-national workforce of about 3 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.

Reference is made to DOF ASA's (the "Company" or "DOF" and together with its subsidiaries the "Group") previous announcements on 22 June 2022 and 13 October 2022 regarding the financial restructuring process DOF is in the current situation obliged to procure that the Reconstruction proceedings are opened. This is further substantiated by a letter from the creditors requesting Reconstruction to be opened promptly. The Board has also been in dialogue with the appointed advisor of the minority shareholders in order to provide the requested documentation. The Board has not received information which indicates that the minority shareholders have any viable alternative solution to the Restructuring. In preparation of the Reconstruction and in order to secure the continued operations in the rest of the Group irrespective of the outcome of the Restructuring in the Company the Company has transferred the majority of its business assets and contractual liabilities to its wholly owned subsidiary DOF Services AS. The employees of the Company have in accordance with the Restructuring Agreement been transferred to the Company’s wholly owned subsidiary DOF AS together with related third-party agreements necessary to operate the Group. The Group's operations are therefore expected to continue as normal both throughout the Reconstruction process and in the event of a subsequent bankruptcy in the Company. As previously communicated creditors and contract parties other than the financial creditors party to the Restructuring will not be affected by the Restructuring. In light of continuous speculations among the minority shareholders of DOF questioning the principle of equal treatment of all the shareholders of the Company and despite previous announcements confirming the same the Company see once more the need to reiterate that the Restructuring proposal that was presented to the EGM provided for equal treatment of all the shareholders of the Company. The main shareholder in DOF has also confirmed that there is no agreement or arrangement regarding preferential treatment of the main shareholder compared to other shareholders irrespective of how the Restructuring is implemented. For further information please contact: Chairman of the Board Hans Olav Lindal tel. + 47 958 39 562 This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Hilde Drønen CFO DOF ASA. 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 over 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."