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DOF Group ASA - Successful placement of USD 150 million senior unsecured bond

2 September 2025: DOF Group ASA (“DOF”) has today successfully priced a 5-year USD 150 million senior unsecured bond ...

DOF Group ASA - Successful placement of USD 150 million senior unsecured bond

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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 with a possibility to further extend the standstill arrangement currently in place to 30 April 2022 with the approval of the ad-hoc committee of bondholders. Reference is further made to the announcements on 31 March 2022 regarding the ad-hoc committee's approval of extension of the standstill arrangement with the bondholders described above to 30 April 2022. Discussions and negotiations on the restructuring of the DOF group (the ""Group"") are progressing and the Group its secured lenders and the advisers to the bondholders have since the bondholders' meetings in February 2022 continued negotiations on an overall financial restructuring of the Group. Further progress has been made in such negotiations but there are still certain issues that remain to be resolved to achieve an overall consensual restructuring of the Group. Consequently no assurances can be made that the terms of a binding restructuring agreement will be agreed. DOF Subsea AS has requested Nordic Trustee AS to summon bondholders' meetings in the three bond loans to consider the extension of the standstill period initially until 31 May 2022 and with a possibility to extend the standstill period on one or more occasions to 30 September 2022 with the approval of an ad-hoc committee of bondholders to facilitate the finalisation of the negotiation and documentation of the proposed consensual restructuring. The proposal is further described in the attached summons to the bondholders in the three bond loans. A request will also be made to the Group's secured lenders to correspondingly extend the suspension of payments of principal and interest that have been granted by a majority of its secured lenders as necessary to finalise the restructuring. For further information please contact: Mons S. Aase CEO DOF Subsea. Tel: +47 91 66 10 12 Martin Lundberg CFO DOF Subsea. 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. 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"

DOF Subsea

SUMMONS TO BONDHOLDERS' MEETINGS IN DOF SUBSEA AS - REQUEST TO FURTER EXTEND STANDSTILL PERIOD

April 12, 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 28 February 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 March 2022, with a possibility to further extend the standstill arrangement currently in place to 30 April 2022 with the approval of the ad-hoc committee of bondholders.

Reference is further made to the announcements on 31 March 2022 regarding the ad-hoc committee's approval of extension of the standstill arrangement with the bondholders described above to 30 April 2022.

Discussions and negotiations on the restructuring of the DOF group (the "Group") are progressing, and the Group, its secured lenders and the advisers to the bondholders have since the bondholders' meetings in February 2022 continued negotiations on an overall financial restructuring of the Group. Further progress has been made in such negotiations, but there are still certain issues that remain to be resolved to achieve an overall consensual restructuring of the Group. Consequently, no assurances can be made that the terms of a binding restructuring agreement will be agreed.

DOF Subsea AS has requested Nordic Trustee AS to summon bondholders' meetings in the three bond loans to consider the extension of the standstill period initially until 31 May 2022 and with a possibility to extend the standstill period on one or more occasions to 30 September 2022 with the approval of an ad-hoc committee of bondholders to facilitate the finalisation of the negotiation and documentation of the proposed consensual restructuring. The proposal is further described in the attached summons to the bondholders in the three bond loans. A request will also be made to the Group's secured lenders to correspondingly extend the suspension of payments of principal and interest that have been granted by a majority of its secured lenders as necessary to finalise the restructuring.

News

Summons to bondholders' meetings in DOF Subsea AS – Request to further extend standstill period

April 12, 2022

DOF Subsea

DOF Subsea is pleased to announce two significant contract awards in the APAC region. In Australia: Chevron Australia has awarded DOF Subsea an IMR Services Contract to Support Chevron's North-West Shelf and near shore subsea assets in Australia with DP Vessels, ROVs, AUVs, Intervention, Inspection, Management and Engineering Services. This key award builds on previous successful IMR campaigns over the life of the existing IMR services contract and secures a further 5-year term under the new contract. In South East Asia: DOF Subsea has secured a substantial contract for a moorings replacement and rectification project. With onshore works underway, the offshore campaign is scheduled mid Q3 2020. The project will provide significant utilisation for resources and vessels - Skandi Hercules and Skandi Singapore - throughout Q3 and early Q4 2020. Mons S Aase, CEO, DOF Subsea, said, "These key contract awards build on successful campaigns delivered in the past for our clients and grow our track -record in the APAC region. We look forward to working with our clients to deliver projects safely and efficiently." 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 3,500 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 35 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 Subsea awarded contracts in APAC region

August 7, 2020

DOF ASA and DOF Subsea AS are pleased to announce that each of the companies have entered into suspension agreements ("stand-still agreements") with, or received similar concessions from, secured lenders representing 91% of the secured debt of companies within the DOF ASA group (excluding DOF Subsea AS) and 88% of the secured debt of companies within the DOF Subsea AS. Pursuant to said agreements, payments of principal and interest to the secured lenders, except for servicing of the NOK 100 million credit facility provided to DOF Subsea AS by certain of its lenders on 27 March 2020 to cover its immediate liquidity needs, are suspended until 30 September 2020 on certain customary terms and conditions. Such terms and conditions include customary restrictions on DOF group (the "Group") in the relevant period. With this continued support from the secured lenders, the standstill under DOF Subsea AS' bond loans will also continue until 30 September 2020 pursuant to the resolutions made at the bondholders' meetings for DOFSUB07, DOFSUB08 and DOFSUB09 on 22 April 2020. The NOK 100 million credit facility referred to above, which originally expired on 30 June 2020, has also been extended to 30 September 2020 with an agreed repayment of NOK 15 million at the end of each month commencing on 30 June 2020. The agreements are entered into in order to facilitate the continued dialogue with the secured lenders and bondholders under the Group's bond loans regarding a long-term financial restructuring of the Group. The suspension agreements comprise all companies within the Group, except for DOF Subsea Brasil Servicos Ltda. As regards the secured lenders (other than the secured lenders of DOF Subsea Brasil Servicos Ltda.) who have not entered into the suspension agreements or provided a similar concession, DOF ASA and DOF Subsea AS have decided to impose an unilateral stand still on the payment of principal and interest to such secured lenders for as long as the suspension agreements remain in force. One of such secured lenders has requested repayment of in total USD 47 million from DOF Subsea Rederi AS, and also provided notice of repayment to DOF Subsea AS under its guarantee for such debt. Pursuant to the suspension agreement, neither DOF Rederi AS nor DOF Subsea AS is permitted to make any payment to such secured lender, but the Group will, together with its other secured lenders, continue the dialogue with the secured lender to seek to resolve the situation. None of the other lenders who have not entered into the suspension agreements have taken any similar steps under their loans. 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 3,400 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 35 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

STANDSTILL AGREEMENTS WITH SECURED LENDERS AND EXTENSION OF SHORT TERM CREDIT FACILITY

June 30, 2020

Historical OSE Notices

Result of Bondholders' Meeting

June 30, 2020

Reference is made to the announcement made on 16 June 2020 regarding the demerger of Møgster Mohn Offshore AS ("MMO"). The general meeting of MMO has today resolved the demerger. Upon completion of the demerger, after the statutory creditor notice period, 50,631,329 of the 150,638,643 shares MMO owns in DOF ASA will be transferred to Perestroika Industri AS, which will result in Perestroika Industri AS holding shares representing 16.45% of the outstanding shares in DOF ASA. Perestroika Industri AS is a company wholly owned by Perestroika AS, which in turn is owned by Frederik W. Mohn. MMO will following completion of the demerger hold 100,007,314 shares, representing 32.49% of the outstanding shares in DOF ASA. Laco AS, as the majority shareholder in MMO, will after completion of the demerger indirectly own approximately 100,004,814 shares (representing 32.49% of the outstanding shares) in DOF ASA. 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 3,500 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 35 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: DEMERGER OF MØGSTER MOHN OFFSHORE AS AND DISCLOSURE OF LARGE SHAREHOLDINGS

June 17, 2020

Historical OSE Notices

DOF ASA: DEMERGER OF MØGSTER MOHN OFFSHORE AS

June 16, 2020

Historical OSE Notices

Summons to Bondholders' Meeting

June 16, 2020

The DOF Group is pleased to announce several contract awards for its fleet in Brazil for Petróleo Brasileiro S.A. ("Petrobras") supporting Petrobras' exploration and production activities on the Brazilian continental shelf. The vessels are owned and operated by Norskan and DOF Subsea Brasil will be responsible for the ROV operations on the vessels. Both companies are 100 % owned subsidiaries of DOF ASA. Skandi Urca and Skandi Fluminense have been awarded 2+2 year contracts with commencement in September 2020 and Skandi Paraty has been awarded a one-year contract that commenced at the beginning of June. All vessels are Brazilian built AHTS vessels and all equipped with Work Class ROV's for operations down to 3.000m water depth. Mons Aase, CEO in DOF Group, states that he is very pleased with the contract awards, which confirm the DOF Group's strong position in the South America region 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 3,500 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 35 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 in Brazil

June 16, 2020

Further to the stock exchange announcement from DOF ASA and DOF Subsea AS on 15 May 2020, DOF ASA ("DOF") is pleased to announce that Norskan Offshore Ltda. ("Norskan") now also has entered into a suspension agreement ("stand-still agreement") with its international secured lenders. Pursuant to said agreement, payments of principal and interest to the secured lenders are suspended until 30 June 2020 on certain customary terms and conditions. Such terms and conditions include customary restrictions on Norskan in the relevant period. The agreement is part of the efforts of the DOF Group to facilitate the continued dialogue with the secured lenders and bondholders under the DOF Group's bond loans regarding a long-term financial restructuring of the Group. Norskan will continue its constructive dialogue with BNDES regarding suspension of interest payments and instalments to BNDES. 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 3,500 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 35 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: STANDSTILL AGREEMENT WITH THE INTERNATIONAL SECURED LENDERS OF NORSKAN

May 29, 2020

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DOF Group ASA - Successful placement of USD 150 million senior unsecured bond

DOF Group ASA - Successful placement of USD 150 million senior unsecured bond

SUMMONS TO BONDHOLDERS' MEETINGS IN DOF SUBSEA AS - REQUEST TO FURTER EXTEND STANDSTILL PERIOD

Summons to bondholders' meetings in DOF Subsea AS – Request to further extend standstill period

DOF Subsea awarded multiple contracts for the Ross Candies

DOF SUBSEA AS INTEGRATED ANNUAL REPORT 2021

Corr.: DOF SUBSEA AS INTEGRATED ANNUAL REPORT 2021

DOF Integrated Annual Report 2021

DOF Subsea AS integrated annual report 2021

DOF Subsea awarded multiple contracts for the Ross Candies

Sale of Geosea

DOF Rederi AS - Sale of vessels

DOF Subsea awarded contracts in APAC region

STANDSTILL AGREEMENTS WITH SECURED LENDERS AND EXTENSION OF SHORT TERM CREDIT FACILITY

Result of Bondholders' Meeting

DOF ASA: DEMERGER OF MØGSTER MOHN OFFSHORE AS AND DISCLOSURE OF LARGE SHAREHOLDINGS

DOF ASA: DEMERGER OF MØGSTER MOHN OFFSHORE AS

Summons to Bondholders' Meeting

Contract awards in Brazil

DOF ASA: STANDSTILL AGREEMENT WITH THE INTERNATIONAL SECURED LENDERS OF NORSKAN