DOF ASA AND DOF SUBSEA AS: RESULT FROM BONDHOLDERS' MEETINGS - FURTHER EXTENSION OF STANDSTILL PERIOD

Reference is made to the summons to 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) dated 16 September 2022, in which DOF Subsea AS requested the bondholders to approve to extend the current standstill period initially until 31 October 2022 and with a possibility to further extend the standstill period on one or more occasions to 30 November 2022 with the approval of the ad-hoc group of bondholder. DOF ASA and DOF Subsea AS are pleased to announce that the bondholders in all three bond issues have approved the request. A copy of the notice from the bondholders' meetings is attached. For further information, please contact: 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 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.