Our newsroom

Det vises til kunngjøring fra DOF ASA ("Selskapet") 17. november 2022 vedrørende krav om innkalling til ekstraordinær generalforsamling ("EGF") etter allmennaksjeloven § 5-7(2) 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 the announcement made by DOF ASA (the "Company") on 17 November 2022 tel. +47 91 62 10 57 This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. 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 DOF ASA has pursuant to section 5-7(2) of the Norwegian Public Limited Companies Act received a request for an extraordinary general meeting ("EGM") to be held to consider a proposal to elect a new board of directors in the company. The request has been submitted on behalf of Bjarte Brønmo and Sans Invest AS holding more than 5% of the share capital. It has been informed that Leif Salomonsen will be proposed as new chair of the board and that the other candidates will be presented prior to the general meeting. The board of directors will convene an EGM to be held no later than 14 December 2022. We also attach a new letter received from the financial creditors of the DOF Group and in order to preserve the interests of the DOF Group's employees suppliers and customers are prepared to contribute to the preservation of the DOF Group's value as a going concern irrespective of the contribution of the shareholders. Further to this the financial creditors have made it clear that there are no other available alternatives than the negotiated restructuring solution unless the overdue debt of approximately NOK 23 billion is settled. In the same letter it is further emphasized that any action that would be contrary to the interest of the DOF group and the stakeholders of DOF ASA (multitude of the shareholders creditors etc.) will expose the board of directors in DOF ASA at any given time to personal liability. For further information please contact: CEO Mons Aase tel. +47 91 66 10 12 CFO Martin Lundberg tel. +47 91 62 10 57 This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. 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"

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 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 Martin Lundberg tel. +47 91 62 10 57 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."

Reference is made to the extraordinary general meeting (the "EGM") in DOF ASA held today. Please find attached the minutes from the EGM. For further information 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 the notice of the extraordinary general meeting (the "EGM") in DOF ASA ("DOF" and together with its subsidiaries the "Group") published on 21 October 2022. The EGM has today voted against the resolutions required to implement the proposed restructuring of the Group in a consensual manner. The minutes from the EGM will be published shortly. As informed in the announcement made on 3 November 20221 tel. +47 91 62 10 57 This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. 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 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 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 Martin Lundberg tel. +47 91 62 10 57 This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. 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 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 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."

Det vises til børsmeldingen fra DOF ASA ("DOF" og sammen med sine datterselskaper 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."

DOF ASA's Brazilian subsidiary Norskan has been awarded two contracts.

Skandi Paraty (AHTS 21,000 with ROV operated by DOF Subsea Brasil) has been awarded an 1-year contract extension with Petrobras until July 2022.

Skandi Iguaçu is on-hire with Equinor on a spot contract utilisation in July and August, 2021.



For further information, please contact:

CEO Mons S. Aase, +47 91 66 10 12

CFO Hilde Drønen, +47 91 66 10 09



With a multi-national workforce of about 3,150 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.