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

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 September 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 restructuring agreement between among others DOF ASA DOF Subsea AS Iceman AS and the secured lenders to the DOF group and the members of the Ad-Hoc Group (the ""Restructuring Agreement"") which sets out the terms and conditions of the planned restructuring of DOF Group's outstanding debt (the ""Restructuring""). The completion of the Restructuring is dependent on the bondholders agreeing to further extend the standstill arrangement insofar as required to implement the Restructuring pursuant to the terms of the Restructuring Agreement. DOF Subsea AS has therefore requested Nordic Trustee AS to summon bondholders' meetings in the three bond loans to consider the extension of the standstill period initially until 31 October 2022 and with a possibility to extend the standstill period on one or more occasions to 30 November 2022 with the approval of the Ad-Hoc Group. 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 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. 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."

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