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DOF Group ASA - Invitation to presentation of Q1 2025 results

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DOF Subsea

NOT FOR DISTRIBUTION OR RELEASE OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE IMPORTANT INFORMATION AT THE END OF THE ANNOUNCEMENT. Reference is made to press release by DOF Subsea AS (""DOF Subsea"" or the ""Company"") earlier today 25 June 2019 announcing the intention to summon bondholder meetings for all of its three bond loans (FRN DOF Subsea AS Senior Unsecured Bond Issue 2013/2020 DOF Subsea AS 9.50% Senior Unsecured Bond Issue 2017/2022 and FRN DOF Subsea AS Senior Unsecured Bond Issue 2018/2023). The summons is being issued today and a copy of this is attached. For further information please contact: CEO Mons Aase tel. +47 91 66 10 12 CFO Jan Nore tel. +47 48 09 46 99 SVP Marianne Møgster 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 Oil and Gas Marine Telecommunications and Renewables markets. www.dofsubsea.com IMPORTANT INFORMATION This communication may not be published distributed or transmitted in the United States Canada Australia or Japan. These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of the Company in the United States Norway or any other jurisdiction. The securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933 as amended (the ""U.S. Securities Act""). The securities of the Company have not been and will not be registered under the U.S. Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to ""qualified institutional buyers"" as defined in Rule 144A under the U.S. Securities Act and to ""major U.S. institutional investors"" under SEC Rule 15a-6 to the United States Exchange Act of 1934. No public offering of the securities will be made in the United States. In any EEA Member State that has implemented the Prospectus Directive this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive i.e. only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression ""Prospectus Directive"" means Directive 2003/71/EC (and amendments thereto including Directive 2010/73/EU to the extent implemented in any relevant Member State) and includes any relevant implementing measure in the relevant Member State. In the United Kingdom this communication is only addressed to and is only directed at Qualified Investors who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the ""Order"") or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies unincorporated associations etc.) (all such persons together being referred to as ""Relevant Persons""). These materials are directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so. Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as ""anticipate"" ""believe"" ""continue"" ""estimate"" ""expect"" ""intends"" ""may"" ""should"" ""will"" and similar expressions. The forward-looking statements in this release are based upon various assumptions many of which are based in turn upon further assumptions. Although the Company believes that these assumptions were reasonable when made these assumptions are inherently subject to significant known and unknown risks uncertainties contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks uncertainties contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice. This announcement is made by and and is the responsibility of the Company. Pareto Securities AS and ABG Sundal Collier (the ""Managers"") are acting exclusively for the Company and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for advice in relation to the contents of this announcement or any of the matters referred to herein. Neither the Managers nor any of their respective affiliates makes any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein. This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Managers nor any of their respective affiliates accepts any liability arising from the use of this announcement. Each of the Company the Managers and their respective affiliates expressly disclaims any obligation or undertaking to update review or revise any statement contained in this announcement whether as a result of new information future developments or otherwise. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act."

DOF Subsea

DOF Subsea AS – Summons to bondholder meetings

June 25, 2019

DOF Subsea

Contract awards in Brazil

May 22, 2019

DOF Subsea

DOF Subsea Interim Financial Report Q1 2019

May 22, 2019

DOF Subsea

DOF Subsea is awarded key North Sea contracts and frame agreements

May 9, 2019

DOF Subsea

DOF Subsea Annual Report

March 22, 2019

Styret i DOF ASA har i henhold til allmennaksjeloven § 5-7(2) mottatt et krav om at det avholdes ekstraordinær generalforsamling for å behandle et forslag om valg av nytt styre i selskapet. Kravet er sendt på vegne av Bjarte Brønmo og Sans Invest AS som eier mer enn 5 % av aksjekapitalen. Det er opplyst at Leif Salomonsen vil bli foreslått valgt som ny styreleder og at øvrige kandidater vil bli presentert før generalforsamlingen. Styret vil innkalle til ekstraordinær generalforsamling som vil bli avholdt senest 14. desember 2022. Vedlagt følger også et nytt brev mottatt fra DOF-konsernets finansielle kreditorer, hvor det (i) på ny understrekes fra de finansielle kreditorenes side at det ikke er rom for ytterligere forhandlinger, (ii) bekreftes at de finansielle kreditorene står ved at de vil medvirke til at restruktureringen om nødvendig vil bli gjennomført gjennom en tvungen rekonstruksjon og/eller konkurs i DOF ASA og at (iii) uttrykkes at de finansielle kreditorene på denne måten, og for å ivareta interessene til DOF-konsernets ansatte, leverandører og kunder, er innstilt på å medvirke til at DOF-konsernets verdi som "going concern" opprettholdes uavhengig av aksjonærenes medvirkning. Det er gjort uttrykkelig klart fra de finansielle kreditorene at det ikke foreligger noen annen løsning enn den fremforhandlede restruktureringsløsningen, uten oppgjør av hele den forfalte gjelden på ca. 23 milliarder norske kroner. Det påpekes videre i samme brev at handlinger som strider mot DOF konsernets interesser, herunder interessenter i DOF ASA (en betydelig andel av aksjonærer, kreditorer etc.) innebærer et personlig ansvar for et til enhver tid sittende styre i DOF ASA. For nærmere informasjon vennligst kontakt: 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 3,900 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.

Historical OSE Notices

DOF ASA: KRAV OM NY EKSTRAORDINÆR GENERALFORSAMLING OG NYTT BREV FRA SELSKAPETS FINANSIELLE KREDITORER

November 17, 2022

Historical OSE Notices

DOF ASA: MINUTES FROM EXTRAORDINARY GENERAL MEETING

November 11, 2022

Historical OSE Notices

DOF ASA: EXTRAORDINARY GENERAL MEETING VOTED AGAINST THE PROPOSED CONSENSUAL RESTRUCTURING

November 11, 2022

Reference is made to the previous announcement on 24 October 2022 regarding summons to bondholders' meetings in DOF Subsea AS' three bond loans (FRN DOF Subsea AS Senior Unsecured Bond Issue 2013/2020 (DOFSUB07, ISIN NO0010971005), DOF Subsea AS 9.50% Senior Unsecured Bond Issue 2017/2022 (DOFSUB08, ISIN NO0010788177) and FRN DOF Subsea AS Senior Unsecured Bond Issue 2018/2023 (DOFSUB09, ISIN NO0010836810)) in which DOF Subsea AS requested the bondholders' approval of the contemplated restructuring of the DOF group by a consensual implementation, or, in the event that the Extraordinary General Meeting in DOF ASA on 11 November 2022 does not approve a consensual restructuring, to complete the restructuring through alternative implementation steps. DOF Subsea AS is pleased to announce that the bondholders' meetings were held today and the proposed resolution received 99.78%, 98.43% and 96.70% of the votes in DOFSUB07, DOFSUB08, and DOFSUB09, respectively. Approval of the proposal set out in the summons required 2/3 majority in all three bonds, and the proposal was consequently approved. Please see the attached minutes from the bondholders' meetings. CEO Mons Aase, tel. +47 91 66 10 12 CFO Hilde Drønen, tel. +47 91 66 10 09 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 3,800 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.

Historical OSE Notices

RESULT FROM BONDHOLDERS' MEETINGS IN DOF SUBSEA AS - APPROVAL OF RESTRUCTURING AND ALTERNATVE IMPLEMENTATION STEPS

November 7, 2022

Reference is made to the announcement made by DOF ASA ("DOF" and together with its subsidiaries the "Group") on 22 June 2022 regarding the execution of an agreement with a substantial group of creditors and certain other stakeholders on a comprehensive financial restructuring (the "Restructuring"), the announcement on 13 October 2022 with an update on the Restructuring process and the notice published on 21 October 2022 of the extraordinary general meeting in DOF to be held on 11 November 2022 (the "EGM"). DOF has today received a letter from the advisors of the main creditors of the Group (the "Creditor Letter"). The Creditor Letter is attached to the enclosed letter from the chairman of DOF to the shareholders. The shareholders are urged to read the letters and the information highlighted below carefully prior to making any decisions on how to vote at the EGM. It is made clear in the Creditor Letter that: i. there is no room for further negotiations with the creditors ; ii. the implementation of the Restructuring as proposed to the EGM is the only consensual alternative to a claim from the creditors for full repayment of the loans ; and iii. in the event that the shareholders fail to approve the required resolutions at the EGM, the proposed Restructuring will be implemented as a forced process pursuant to the Norwegian Reconstruction Act or through a bankruptcy in DOF, providing the shareholders with less or no value compared to the proposed consensual Restructuring. As emphasized by the chairman in the attached letter to the shareholders of DOF, all shareholders should prior to deciding how to vote in particular consider the following elements carefully: i. The shareholders of DOF will receive the highest value (and the largest portion of any future upside) in the event that the Restructuring is approved by the EGM ; ii. the proposed consensual Restructuring provides the shareholders with 4 % of the share capital even if the equity in DOF in reality is lost in the prevailing financial situation. This is a favorable solution given the existing status of the Group and also compared to similar restructuring cases ; iii. in the event that the shareholders fail to approve the Restructuring at the EGM, the Restructuring will be implemented as a forced process pursuant to the Norwegian Reconstruction Act in which event the shareholders will only be secured 1 % of the share capital following the Restructuring ; iv. in the event that the Restructuring cannot be implemented pursuant to the Reconstruction Act, the Restructuring will be implemented through a bankruptcy in DOF and the shareholders of DOF will be left with zero value ; and v. the arguments presented by the group of minority shareholders relating to underlying values in the Group and that a bankruptcy will not be declared, are unfortunately based on fundamental misunderstandings as the bankruptcy alternative will be adopted if required and the existing shareholders then will be left with zero value. It is also emphasised that an already submitted power of attorney, until the EGM (at 12:00 on 11 November 2022), can be withdrawn and changed to an instruction to vote in favour of the proposed resolutions at the EGM. DOF has also noted that certain minority shareholders have expressed that they have not received required information from DOF. It should in this respect be noted that representatives of DOF have reached out to a large number of shareholders in order to explain the information provided to the shareholders through stock exchange announcements and the notice of the EGM. However, any shareholder who still require additional information are welcome to contact: CFO Hilde Drønen, tel. +47 916 61 009 CFO (Acting) Martin Lundberg, tel. +47 916 21 057 Group General Counsel Petter O. Pharo, tel. +47 982 06 477 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 3,900 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 Stock Exchange since 1997.

Historical OSE Notices

DOF ASA: EXTRAORDINARY GENERAL MEETING ON 11 NOVEMBER 2022

November 3, 2022

Det vises til børsmeldingen fra DOF ASA ("DOF" og sammen med sine datterselskaper, "Gruppen") 22. juni 2022 om inngåelse av en avtale med en betydelig gruppe kreditorer og enkelte andre interessenter om en helhetlig finansiell restrukturering ("Restruktureringen"), børsmeldingen 13. oktober 2022 med en oppdatering om Restruktureringen og innkallingen datert 21. oktober 2022 til den ekstraordinære generalforsamlingen i DOF som skal avholdes 11. november 2022. DOF har i dag mottatt et brev fra rådgiverne til de største kreditorene til Gruppen ("Kreditorbrevet"). Kreditorbrevet er et vedlegg til vedlagte brev fra styreleder i DOF til aksjonærene. Aksjonærene oppfordres til å lese brevene og informasjonen som er fremhevet nedenfor nøye, før de tar noen beslutninger om hvordan de skal stemme på den ekstraorfinære generalforsamlingen. Det fremgår av Kreditorbrevet at: i. det ikke er rom for videre forhandlinger med kreditorene ; ii. gjennomføringen av Restruktureringen, som foreslått for den ekstraordinære generalforsamlingen, er det eneste frivillige alternativet til et krav fra kreditorene om full tilbakebetaling av lånene ; og iii. dersom aksjonærene ikke fatter de nødvendige vedtakene på den ekstraordinære generalforsamlingen, vil den foreslåtte Restruktureringen bli gjennomført som en tvungen prosess i henhold til den norske rekonstruksjonsloven eller gjennom en konkurs i DOF, som vil gi aksjonærene mindre eller ingen verdi sammenlignet med den foreslåtte frivillige Restruktureringen. Som understreket av styreleder i vedlagte brev til aksjonærene i DOF, bør alle aksjonærer, før de bestemmer seg for hvordan de skal stemme, særlig vurdere følgende elementer nøye: i. Aksjonærene i DOF vil motta den høyeste verdien (og den største andelen av en eventuell fremtidig verdistigning) dersom Restruktureringen blir godkjent i den ekstraordinære generalforsamlingen ; ii. den foreslåtte frivillige Restruktureringen gir aksjonærene 4 % av aksjekapitalen, selv om egenkapitalen i DOF i realiteten er tapt i den rådende situasjonen. Dette er en gunstig løsning gitt Gruppens nåværende stilling og det er en gunstig løsning sammenlignet med lignende restruktureringssaker ; iii. dersom aksjonærene ikke godkjenner Restruktureringen på den ekstraordinære generalforsamlingen, vil Restruktureringen bli gjennomført som en tvungen prosess i henhold til rekonstruksjonsloven, og aksjonærene vil i så fall bare være sikret 1 % av aksjekapitalen etter Restruktureringen ; iv. i tilfelle Restruktureringen ikke kan gjennomføres i henhold til rekonstruksjonsloven, vil Restruktureringen bli gjennomført gjennom en konkurs i DOF og aksjonærene i DOF vil sitte igjen uten noe verdi ; og v. minoritetsaksjonærgruppens argumenter knyttet til underliggende verdier i konsernet og videre at konkurs ikke vil bli erklært, er dessverre basert på grunnleggende misforståelser da konkursalternativet vil bli gjennomført om nødvendig og de eksisterende aksjonærene da vil sitte igjen uten noe verdi. For det tilfellet at fullmakt allerede er inngitt, presiseres det at fullmakten, helt frem til generalforsamlingen (kl. 12.00 den 11. november 2022), vil kunne trekkes tilbake og endres til en instruks om å stemme for forslagene til vedtak på generalforsamlingen. DOF har også merket seg at enkelte minoritetsaksjonærer har gitt uttrykk for at de ikke har mottatt nødvendig informasjon fra DOF. Det skal i denne forbindelse bemerkes at representanter for DOF har kontaktet et stort antall aksjonærer for å forklare informasjonen som er gitt til aksjonærene gjennom børsmeldinger og innkallingen til den ekstraordinære generalforsamlingen. Enhver aksjonær, som fortsatt har behov for ytterligere informasjon, er imidlertid velkommen til å kontakte: CFO Hilde Drønen, tlf. +47 916 61 009 CFO (Acting) Martin Lundberg, tlf. +47 916 21 057 Group General Counsel Petter O. Pharo, tlf. +47 982 06 477 Denne informasjonen er informasjonspliktig etter verdipapirhandelloven § 5-12. Med en multinasjonal arbeidsstyrke på rundt 3.900 ansatte, er DOF ASA en internasjonal gruppe av selskaper som eier og driver en flåte av moderne offshore/undervannsfartøy, og ingeniørkapasitet for å betjene både offshore- og subseamarkedet. Med over 40 år i offshorebransjen har Gruppen en sterk posisjon når det gjelder erfaring, innovasjon, produktspekter, 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.

Historical OSE Notices

DOF ASA: EKSTRAORDINÆR GENERALFORSAMLING DEN 11. NOVEMBER 2022

November 3, 2022

The Group's revenue for 3rd quarter (management reporting) totals NOK 2,862 million (NOK 2,052 million) and EBITDA totals NOK 1,030 million (NOK 865 million). The operating profit (EBIT) is NOK 678 million (NOK 488 million). Net financial cost amounts to NOK -1,126 million (NOK -671 million) incl. unrealised currency loss of NOK -869 million (NOK -548 million). The net result is a loss of NOK -519 million (NOK -128 million). The Group's net interest bearing debt is NOK 23,159 million (NOK 19,847 million) and the book equity is negative with NOK - 2,212 million (NOK - 1,106 million). Operations: . The average utilisation of the fleet was 88% (83%) in the quarter . High activity and good performance in the subsea regions . High activity in Brazil. Lower rates and utilisation in the North Sea spot market especially for the AHTS fleet . A high tender activity has resulted in an increased order intake the last two quarters . The total current fleet includes 54 vessels (incl. vessels on management or hired in) - 15 AHTSs, 11 PSVs and 28 Subsea vessels - One vessel sold and delivered in the quarter Backlog . Order intake of NOK 3.9 billion in the quarter . Total backlog of NOK 21.7 billion by end of the quarter Finance: . The Group has signed a Restructuring Agreement with the secured lenders and a group of bondholders representing 40% of the total outstanding bonds ("The lenders"), with the purpose of securing a long-term financial solution and continue as going concern, where the following main terms have been agreed: - Conversion of approximately NOK 6.2 billion in debt into equity across all major silos within the Group (DOFCON JV excluded), whereas the holders of current shares will hold 4% of the shares after the conversion. - Consolidation of most bilateral facilities at DOF Subsea Group in a single syndicated loan and refinancing of the DOF Rederi Fleet loan after conversion of debt. - Amended terms of the Norskan financing including a split in guaranteed (approx. 70%) and unguaranteed tranches. - The Restructuring Agreement remains to be approved by the bondholders in DOF Subsea AS in a bondholder meeting on 7th of November and by the shareholders in the Company in an extraordinary general meeting on 11th of November. - The Group and the lenders have agreed alternative implementation steps of the restructuring should it not be approved by the shareholders. Please see enclosed 3rd quarter Financial Report 2022. Webcast is available Thursday, 27th of October at 08:30 on www.dof.com. 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 3,900 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.

Historical OSE Notices

Financial Report 3rd quarter for DOF ASA

October 27, 2022

The DOF Group is pleased to announce extension of a contract in Brazil and new contracts in West-Africa and in the North Sea. Petrobras has awarded an extension of the Skandi Amazonas contract with Norskan Offshore Ltda until March 2023. Skandi Amazonas is a 21.000 class Brazilian flagged AHTS vessel. DOF Subsea has have been awarded a contract to support a FPU for a major operator in West-Africa. The Group will utilise the vessels Skandi Constructor, Skandi Iceman and Skandi Hera, and one third-party vessel. Skandi Captain has secured a contract with a client to support drilling operations in the Dutch sector of the North Sea. The charter will commence within November 2022 and is expected to provide 100 days of vessel utilisation. The estimated firm backlog for these contracts is approximately NOK 260 million. Mons Aase CEO DOF Group said," I'm very pleased with these awards that on top of an already high order intake, secures good utilisation for the Group in Q4 and into Q1 2023". For further information, please contact: Mons S. Aase, CEO, Tel: +47 91 66 10 12 Hilde Drønen, CFO, Tel +47 91 66 10 09 With a multi-national workforce of about 3,900 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.

Historical OSE Notices

Contract awards DOF Group

October 26, 2022

Reference is made to the resolutions adopted in the bondholders' meetings in DOF Subsea AS' three bond loans (FRN DOF Subsea AS Senior Unsecured Bond Issue 2013/2020, DOF Subsea AS 9.50% Senior Unsecured Bond Issue 2017/2022 and FRN DOF Subsea AS Senior Unsecured Bond Issue 2018/2023) on 30 September 2022, whereby the bondholders on certain conditions approved to extend their waiver from, and suspension of, all payment obligations under each of the bond loans until 31 October 2022, with a possibility to further extend the standstill arrangement currently in place to 30 November 2022 with the approval of the ad-hoc group of bondholders (the "Ad-Hoc Group"). Reference is further made to the announcements on 22 June 2022 regarding the execution of an agreement (the "Restructuring Agreement") with a substantial group of creditors and certain other stakeholders on a comprehensive financial restructuring (the "Restructuring") and the announcements made on 21 October 2022 regarding the Extraordinary General Meeting to be held on 11 November 2022 relating to the Restructuring and the extension of the standstill arrangements to 30 November 2022 in accordance with the authority granted to the Ad-Hoc Group. The completion of the Restructuring is dependent on the bondholders approval of the Restructuring pursuant to the terms of the Restructuring Agreement. Further, in the event the Extraordinary General Meeting on 11 November 2022 does not approve resolutions required to implement the Restructuring, completion of the Restructuring is dependent on the bondholders approval to implement the Restructuring through certain alternative implementation steps. DOF Subsea AS has therefore requested Nordic Trustee AS to summon bondholders' meetings in the three bond loans to consider the approval of the Restructuring by a consensual implementation or through alternative implementation steps. The proposal is further described in the attached summons to the bondholders in the three bond loans. CEO Mons Aase, tel. +47 91 66 10 12 CFO Hilde Drønen, tel. +47 91 66 10 09 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 3,800 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.

Historical OSE Notices

SUMMONS TO BONDHOLDERS' MEETINGS IN DOF SUBSEA AS - APPROVAL OF RESTRUCTURING AND ALTERNATVE IMPLEMENTATION STEPS

October 24, 2022

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DOF Group ASA - Invitation to presentation of Q1 2025 results

DOF Group ASA - Invitation to presentation of Q1 2025 results

Contract award for Skandi Skansen

DOF Subsea contract awards

Notice from bondholder meeting

DOF Subsea AS – Update on refinancing and covenant amendments

DOF Subsea AS – Summons to bondholder meetings

Contract awards in Brazil

DOF Subsea Interim Financial Report Q1 2019

DOF Subsea is awarded key North Sea contracts and frame agreements

DOF Subsea Annual Report

DOF ASA: KRAV OM NY EKSTRAORDINÆR GENERALFORSAMLING OG NYTT BREV FRA SELSKAPETS FINANSIELLE KREDITORER

DOF ASA: MINUTES FROM EXTRAORDINARY GENERAL MEETING

DOF ASA: EXTRAORDINARY GENERAL MEETING VOTED AGAINST THE PROPOSED CONSENSUAL RESTRUCTURING

RESULT FROM BONDHOLDERS' MEETINGS IN DOF SUBSEA AS - APPROVAL OF RESTRUCTURING AND ALTERNATVE IMPLEMENTATION STEPS

DOF ASA: EXTRAORDINARY GENERAL MEETING ON 11 NOVEMBER 2022

DOF ASA: EKSTRAORDINÆR GENERALFORSAMLING DEN 11. NOVEMBER 2022

Financial Report 3rd quarter for DOF ASA

Contract awards DOF Group

SUMMONS TO BONDHOLDERS' MEETINGS IN DOF SUBSEA AS - APPROVAL OF RESTRUCTURING AND ALTERNATVE IMPLEMENTATION STEPS