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including recommending the issuance of equity and warrants in order to enable existing shareholders to maintain a higher ownership in the restructured company through additional investment. Feedback from the Creditors was clear that only alternatives within the limits of the restructuring plan agreed with the former board of DOF ASA would be considered. As a result the current Board had no alternative but to adjust its proposal to the Final Proposal within the limits of the Restructuring Agreement. Following the Final Proposal the financial creditors made it clear that they only would consider the Final Proposal if the Board was able to obtain sufficient shareholder support for the proposal to make it likely that it would be approved by an extraordinary general meeting of the Company. The Board met persistent opposition from a group of shareholders and was not able to obtain such sufficient support. The Board then informed the reconstructor and the financial creditors accordingly. On this basis the financial creditors have requested that the reconstruction committee reports to the court that there is no basis for a reconstruction and thus request the court to open bankruptcy proceedings in DOF ASA cf. the reconstruction act (Norw: rekonstruksjonsloven) Section 58 (1) no. 1. The financial creditors have at the same time confirmed that they are ready to enter into an agreement with the bankruptcy estate to acquire DOF Services AS and its subsidiaries and thereby facilitate that (i) the Restructuring will be implemented as planned and (ii) the other companies in the Group than DOF ASA will remain unaffected by the bankruptcy in DOF ASA. As a result of said agreement the bankruptcy of DOF ASA will be limited solely to such company and will not affect any other company in the Group. The agreement is expected to allow for a short period between signing and completion for the administrator of the bankruptcy estate of DOF ASA to ascertain that the Restructuring is the most attractive offer for the Group creditors and other stakeholders. As described in the stock exchange announcement of DOF on 13 October 2022 the Restructuring will upon completion of the agreement with the financial creditors be implemented as planned for this scenario and such alternative implementation of the Restructuring has been structured to avoid any interruption to the ongoing operations of the Group and to avoid losses for the Group's customers suppliers and other trade creditors. Consequently no other creditors than the financial creditors nor any of the employees of the Group are to be affected by such alternative implementation of the Restructuring. The implementation of the Restructuring with DOF Services AS as the new parent company of the Group is subject to approval by the bondholders’ meetings in each of DOF Subsea AS' bond loans DOFSUB07 DOFSUB08 and DOFSUB09. If the bondholders' meetings do not give their approval the new parent company will instead be a new Norwegian holding company to be incorporated by the financial creditors. Consequently the matter to be considered by the bondholders will only comprise the identity of the new parent company in the group. The new holding company of the group will be applied for listing on Oslo Børs in due course. As communicated in the stock exchange announcement on 27 January 2023 the new Board of DOF has in addition to seeking alternative solutions to the Restructuring assessed the solvency of DOF ASA in a bankruptcy scenario. The Board has in this respect obtained and assessed independent valuations of the Group's vessels. The shipbrokers Fearnleys and Clarkson have assessed the value of the Group's vessels. The advisory firm Deloitte has reviewed these and assessed them against the company's debt other liabilities and available liquid assets in an insolvency liquidation analysis (i.e. a bankruptcy scenario). Deloitte has also assessed the value of the Group's other activities including the shares in DOFCON and the engineering services also in an insolvency liquidation analysis. The final report from Deloitte has now been obtained and the Board has on this basis concluded that even though there is likely positive value in DOF ASA in a going concern scenario there is no basis to contest that DOF ASA will be insolvent in event of a bankruptcy. Upon a bankruptcy in DOF ASA the share capital of the Company will be lost and there will not be any value left to the shareholders. The Board highly regrets this result. However although the bankruptcy will result in shareholder losses the process that will follow is structured to avoid any interruption to the ongoing operations of the Group and to avoid losses for the Group's customers suppliers and other trade creditors. For further information please contact: Chairman DOF ASA: Leif Chr. Salomonsen tel: 992 42 888 CEO Mons Aase tel. +47 91 66 10 12 CFO DOF ASA Hilde Drønen tel. +47 91 66 10 09 This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Hilde Drønen CFO DOF ASA. 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."

Styret i DOF ASA har mottatt en epost fra en gruppe aksjonærer (Gruppen) med krav om at det blir innkalt til ekstraordinær generalforsamling. Rekonstruktøren har varslet at han nå forholder seg til at han innen kl. 11:00 1. februar 2023 må kunne formidle til kreditorene at et tilstrekkelig antall aksjonærer vil stemme for styrets forslag til rekonstruksjon. Dersom det ikke skjer er det styrets forståelse at rekonstruktøren vil be Hordaland tingrett om å innstille rekonstruksjonsprosessen og åpne konkurs i DOF ASA. Gruppen som krever innkalt ekstraordinær generalforsamling sier Leif Chr. Salomonsen styreleder i DOF ASA. Som kjent har styret mottatt verdivurderinger som peker i retning av at DOF ASA er insolvent. Selskapet vil derfor gå konkurs dersom forslaget til rekonstruksjon ikke blir godkjent. Virksomheten i DOF Services AS og dets datterselskaper vil være upåvirket av en konkurs i morselskapet DOF ASA. All operativ virksomhet vil derfor fortsette som før. Det er dagens aksjonærer som vil tape alt ved en konkurs. Selskapets hovedaksjonær som representerer 31 6 prosent av aksjene har meddelt støtte til styrets forslag. Gruppen som nå krever ekstraordinær generalforsamling representerer etter det styret forstår ca. 13 prosent av aksjene. De har således ikke nok innflytelse til alene å sende selskapet inn i en konkurs. – Vi er nå inne i en siste avgjørende og kritisk fase av rekonstruksjonen av DOF ASA. Det er veldig viktig at alle aksjonærer som er interessert i å redde sine aksjonærverdier setter seg grundig inn i styrets forslag. Det er et faktum at konsernet har ca. 25 milliarder kroner i gjeld som det i det alt vesentlige ikke har vært betalt verken renter eller avdrag på i over to år. Vi er allerede på overtid og trenger en løsning nå sier Salomonsen. For å ha størst mulig sannsynlighet for at de finansielle kreditorene godtar styrets forslag til restrukturering er styret avhengig av å kunne dokumentere at forslaget vil oppnå tilstrekkelig støtte fra dagens aksjonærer i DOF ASA. Styret ber derfor alle aksjonærer som støtter forslaget om å gi uttrykk for dette gjennom følgende fremgangsmåte: Aksjonærer bes sende en epost til dof@grette.no med teksten «Jeg/vi bekrefter med dette at jeg/vi støtter styrets forslag til rekonstruksjonsplan hvor dagens aksjonærer etter rekonstruksjonen vil ha en eierandel i det reorganiserte selskapet på ca. 3 75 %» I eposten bes i tillegg opplyst navn (ev. navn på selskapet aksjene eies gjennom) antall aksjer eid pr. 31. januar 2023 og telefonnummer. Det er viktig at eposten er selskapet i hende innen kl. 11.00 1. februar 2023. For ytterligere informasjon vennligst kontakt: Styrets leder DOF ASA: Leif Chr. Salomonsen tel.: +47 992 42 888

The board of DOF ASA has received an e-mail from a Group of shareholders (the Group) demanding that an extraordinary general meeting of shareholders be convened. The reconstructor has notified that he now considers 11 am on 1 February 2023 as the deadline for him to inform creditors that a sufficient number of shareholders will vote for the board’s proposal. If the creditors are not provided any such assurance that the election of a new board be put on the agenda. Names of new board members have not yet been announced. The request from the Group is unclear on several points and the board has asked the Group for clarifications. However the request can be interpreted in the direction that shareholders in the Group will not support the board's proposal for reconstruction. The proposal implies that the current shareholders will retain 3.75 per cent of the shares in a restructured and refinanced DOF. “The shareholders are fully entitled to demand the election of a new board but the board does not understand why they should reject the board's proposal for reconstruction. The board wants dialogue about the way forward but the Group has on several occasions rejected this and refused to receive the information they themselves have repeatedly requested ” says Leif Chr. Salomonsen chair of DOF ASA. As communicated in the stock announcement dated 27 January 2022 the board has received valuations which point in the direction of DOF ASA being insolvent. The company will therefore go bankrupt if the proposal for reconstruction is not approved. The operations of DOF Services AS and its subsidiaries will be unaffected by a bankruptcy in the parent company DOF ASA. All operational activities will therefore continue as before. It is today's shareholders who will lose everything in a bankruptcy. The company's main shareholder who represents 31.6 per cent of the shares has announced its support for the board's proposal. The Group that is now demanding an extraordinary general meeting represents according to the board's understanding approx. 13 percent of the shares. Accordingly the Group does not have enough influence alone to send the company into bankruptcy. “We are now in a final and decisive phase of the reconstruction of DOF ASA. It is very important that all shareholders who are interested in saving their shareholder values study the board's proposal thoroughly. It is a fact that DOF ASA has approx. NOK 25 billion in debt on which neither interest nor instalments have been paid for over two years. It is urgent to find a solution now ” says Salomonsen. To maximise the chance of the financial creditors accepting the board's proposal for restructuring the board must document that a sufficient amount of the current shareholders of DOF ASA will support its proposal. The board therefore asks all shareholders who support the proposal to express this through the following procedure: Shareholders are asked to send an e-mail to dof@grette.no with the text ""I/we hereby confirm that I/we support the board's proposal for a reconstruction plan according to which after the reconstruction the current shareholders will have a stake in the reorganised company of approx. 3.75 per cent"" In the e-mail shareholders are also asked to state their name (if applicable the name of the company through which the shares are owned) the number of shares owned as of 31 January 2023 and telephone number. It is important that the company receives the e-mail by 11 am 1 February 2023. For further information please contact: Chairman DOF ASA: Leif Chr. Salomonsen tlf.: 992 42 888"

Styret i DOF ASA har besluttet å oversende forslag til rekonstruksjonsplan til rekonstruktøren og konsernets finansielle kreditorer og vil utarbeide en innkalling til ekstraordinær generalforsamling for å behandle dette forslaget forutsatt at de finansielle kreditorene og rekonstruktøren støtter forslaget. Rekonstruksjonsplanen vil nå bli forelagt de finansielle kreditorene for godkjenning. Samtidig vil styret arbeide for å dokumentere tilslutning til planen fra et tilstrekkelig antall aksjonærer. Planen har allerede fått tilslutning fra Møgster Offshore AS som eier ca. 31 75 prosent av selskapets aksjer. Forslaget er ellers identisk med det forrige forslaget. – Styret fremmer dette forslaget til rekonstruksjon etter grundige overveiinger og utstrakt kontakt med kreditorer og aksjonærer. Styret mener det ville være umulig å oppnå tilstrekkelig tilslutning blant aksjonærene for en løsning der de kun ville eie én prosent av selskapet etter gjeldskonvertering. Likeledes vil det etter styrets mening være umulig å oppnå aksept blant kreditorene for mer enn 3 75 prosent til de eksisterende aksjonærene sier Leif Chr. Salomonsen styreleder i DOF ASA. Det nye styrets arbeid På generalforsamlingen 14. desember 2022 valgte aksjonærene i DOF ASA nytt styre. Det nye styret noterte seg at toneangivende aksjonærer mente de ikke hadde tilstrekkelig informasjon til å ta stilling til det fremlagte forslaget om restrukturering. Det nye styret startet derfor umiddelbart arbeidet med å få oversikt over relevant og oppdatert informasjon om situasjonen i selskapet herunder spesielt verdivurderinger og vurderinger av likviditet og fremtidig kontantstrøm. Parallelt utredet styret om det kunne være mulig å oppnå enighet med de finansielle kreditorene om alternative løsninger som ville kunne gi aksjonærene en større andel av selskapets verdier og fremtidig verdiskaping enn det opprinnelige forslaget. Styret har i perioden hatt jevnlig kontakt og møter med representanter for selskapets aksjonærer og for selskapets kreditorer og deres rådgivere. Målet med denne kontakten og møtene har vært å sondere muligheten for andre løsninger herunder blant annet refinansiering av gjelden salg av skip og emisjon. Dessverre har ingen av disse løsningene latt seg realisere. Veien videre Basert på forutgående sonderinger anser styret at det nå foreliggende forslaget er et rimelig kompromiss som bør få tilstrekkelig flertall blant selskapets kreditorer og aksjonærer. Selskapets hovedaksjonær har bekreftet støtte til planen under forutsetning av at kreditorene gir sin tilslutning. Styret vil i dagene som kommer søke å innhente ytterligere forhåndsaksepter fra aksjonærer. Samtidig forbereder selskapet en nærmere redegjørelse av selskapets resultat og kontantstrøm i fjerde kvartal og for året 2022 som helhet og balanseverdier per 31. desember 2022. Dette er informasjon som vil bli gjort tilgjengelig for markedet før den ekstraordinære generalforsamlingen. Ingen garantert løsning Selv om det anses som mulig at styrets forslag vil kunne oppnå tilstrekkelig støtte fra aksjonærer og kreditorer understreker styret at det ikke kan utstedes noen garanti for at løsningen aksepteres. I den situasjonen selskapet nå er kan selskapets finansielle kreditorer når som helst meddele rekonstruktøren at de ikke vil bidra til en løsning som den som foreslås av styret. I så fall vil rekonstruktøren be Hordaland tingrett om å innstille rekonstruksjonsprosessen og åpne konkurs i DOF ASA. Dersom løsningen ikke oppnår tilstrekkelig flertall blant aksjonærene vil resultatet være det samme. Det vil da være opp til Hordaland Tingrett å vurdere om det er grunnlag for å slå DOF ASA konkurs. Solvens eller ikke Det avgjørende for Hordaland tingretts konklusjon vil være om det basert på blant annet innberetningen fra rekonstruksjonsutvalget er utsikt til at DOF ASA vil kunne oppnå en rekonstruksjon. Hvorvidt selskapet er solvent eller ikke er i utgangspunktet ikke avgjørende. For det tilfelle at retten likevel vil se nærmere på solvensspørsmålet vil den se hen til hvorvidt verdien av eiendelene til DOF ASA (det vil si aksjer i datterselskapet DOF Services AS) er mer verdt enn gjelden i DOF ASA samt likviditeten. Dette spørsmålet vil i praksis bero på om verdiene av eiendelene til DOF-konsernet som kan realiseres i en konkurs er større enn gjelden. Det er altså ikke verdien av eiendelene i DOF som going concern det handler om. For å belyse dette spørsmålet har styret i DOF ASA innhentet og vurdert uavhengige vurderinger av verdiene i DOF-konsernet. Skipsmeglerne Fearnleys og Clarkson har vurdert verdien på DOF-konsernets skip. Rådgivingsselskapet Deloitte har gjennomgått disse og vurdert de opp mot selskapets gjeld andre forpliktelser og tilgjengelige likvide midler. Deloitte har også vurdert verdien på DOF-konsernets øvrige virksomhet herunder eierandelen i DOFCON og prosjekt- og engineering-virksomheten. Vurderingene som nå foreligger er basert på skipsverdier per 31. desember 2022. De viser at skipsverdiene i amerikanske dollar har økt siden 31. september 2022. En svakere dollar har motsatt effekt og fjerner mye av verdiøkningen målt i kroner. Svakere dollar reduserer imidlertid også kroneverdien av selskapets gjeld. Endelig rapport fra Deloitte foreligger fortsatt ikke. Styret har derfor ikke endelig kunnet konkludere hvorvidt selskapet vil være å anse som insolvent men anser det som sannsynlig. Styrets anbefaling Dersom tingretten åpner konkurs i DOF ASA vil kreditorene overta alle verdier i DOF ASA og aksjonærene tape alt. Selv om Hordaland tingrett likevel ikke skulle åpne konkurs i DOF ASA vil garantiansvaret som DOF ASA har på vegne av sine datterselskap bestå. Det er således helt usannsynlig at aksjonærene i noe scenario ville kunne få mer verdier enn styrets foreslåtte løsning.. Basert på ovenstående analyser og vurderinger er det styrets klare oppfatning at den beste løsningen for selskapet og for samtlige av selskapets interessenter aksjonærer så vel som kreditorer vil være at styrets forslag til rekonstruksjon blir gjennomført. – Styret skulle gjerne sett at aksjonærene fikk beholde en større del av selskapet enn det forslaget legger opp til. Dersom man hadde kunnet stille klokken tilbake og startet forhandlingene med kreditorene på nytt i dag så hadde det kanskje vært mulig. Det er imidlertid et faktum at konsernet har ca. 25 milliarder kroner i gjeld som det i det alt vesentlige ikke har vært betalt verken renter eller avdrag på i over to år sier Salomonsen. – Vi er allerede på overtid og trenger en løsning nå. Selskapet har levd på kreditorenes nåde i lang tid. Med styrets forslag vil eksisterende aksjonærer eie 3 75% av et styrket DOF ASA selskapet vil videreføre sin virksomhet og aksjonærene vil få ta del i den verdiskapingen som mange forventer vil skje i tiden som kommer konkluderer Salomonsen. For ytterligere informasjon vennligst kontakt: Styreleder DOF ASA: Leif Chr. Salomonsen tel.: +47 992 42 888

The board of directors of DOF ASA has decided to submit a proposal for a restructuring plan to the reconstructor and the DOF group's financial creditors and will prepare a notice convening an extraordinary general meeting to consider this proposal there will be no prospect that the company will be able to achieve a reconstruction and the court will probably open bankruptcy after a report from the reconstruction committee. The business will continue to operate as today through the subsidiary DOF Service AS and its underlying companies. However shareholder value will in all likelihood be lost. The restructuring proposal is based on the restructuring agreement that was negotiated between the company and the creditors and voted down at the extraordinary general meeting on 11 November 2022. A key point in the restructuring agreement is how much of the company the existing shareholders should retain after debt has been converted to equity. The original proposal would have meant that shareholders would own 4 percent of the shares in the company. After this proposal was voted down it was likely that the shareholders would end up with a 1 percent stake. The proposal that the board has now submitted means that the existing shareholders will own 3.75 per cent of the company's shares after debt conversion. The proposal is otherwise identical to the previous proposal. - The Board is submitting this proposal for reconstruction after careful consideration and extensive contact with creditors and shareholders. The Board of Directors believes that it would be impossible to obtain sufficient support among shareholders for a solution where they would only own 1 percent of the company after debt conversion. Similarly the Board believes that it would be impossible to achieve acceptance among the creditors for more than 3.75 percent to the existing shareholders says Leif Chr. Salomonsen Chairman of the Board of DOF ASA. The work of the new board At the Annual General Meeting on 14 December 2022 the shareholders of DOF ASA elected a new Board of Directors. The new Board of Directors noted that leading shareholders felt that they did not have sufficient information to take a position on the restructuring proposal presented. The new board therefore immediately started the work of obtaining an overview of relevant and updated information about the situation in the company including in particular valuations and assessments of liquidity and future cash flow. In parallel the board investigated whether it might be possible to obtain agreement with the financial creditors for any alternative solutions that could give shareholders a larger share of the company's assets and future value creation than the original proposal. In this period the board has had regular contact and meetings with representatives of the company's shareholders and the company's creditors and their advisers. The aim of these contacts and meetings has been to explore the possibility of other solutions including refinancing of the debt sale of ships and a share issuance. Unfortunately none of these solutions have been possible to realize. The way forward Based on preceding dialogue the Board considers that the current proposal is a reasonable compromise that should receive a sufficient majority among the company's creditors and shareholders. The company's main shareholder has confirmed support for the plan subject to the creditors' approval. In the coming days the Board will seek to obtain further pre-acceptances from shareholders. At the same time the company is preparing a more detailed statement of the company's results and cash flow in the fourth quarter and for the year 2022 as a whole and balance sheet values as of 31 December 2022. This information will be made available to the market prior to the Extraordinary General Meeting. No guaranteed solution While it is considered possible that the Board’s proposal will be able to obtain sufficient support from shareholders and creditors the Board stresses that there are no guarantees that the solution will be accepted. In the current situation of the company the company's financial creditors could at any time notify the reconstructor that they will not contribute to a solution such as the one proposed by the board. In that case the reconstructor will ask Hordaland District Court to suspend the restructuring process and open bankruptcy in DOF ASA. If the solution does not achieve a sufficient majority among the shareholders the result will be the same. It will then be up to Hordaland District Court to assess whether there are grounds for declaring DOF ASA bankrupt. Solvent or not The decisive factor for Hordaland District Court's conclusion will be whether based on inter alia the report from the reconstruction committee it is likely that DOF ASA will be able to achieve a restructuring. Whether the company is solvent or not is in principle not decisive. In the event that the court nevertheless decides to look further into the solvency issue it will consider whether the value of the assets of DOF ASA (i.e. shares in the subsidiary DOF Services AS) is worth more than the debt in DOF ASA as well as the liquidity. In practice this question will depend on whether the value of the assets of the DOF Group that can be realised in a bankruptcy is greater than the debt. Thus it is not the value of the assets of DOF as a going concern that is at issue. In order to shed light on this question the Board of Directors of DOF ASA has obtained and assessed independent valuations of the DOF Group's assets. The shipbrokers Fearnleys and Clarkson have assessed the value of the DOF Group's vessels. The advisory firm Deloitte has reviewed these and assessed them against the company's debt other liabilities and available liquid assets. Deloitte has also assessed the value of the DOF Group's other activities including the shares in DOFCON and the engineering services. The assessments now available are based on vessel values as of 31 December 2022. They show that vessel values in US dollars have increased since 31 September 2022. A weaker dollar has had the opposite effect removing much of the increase in value measured in NOK. However a weaker dollar also reduces the krone value of the company's debt. The final report from Deloitte is still pending. The Board of Directors has therefore not been able to reach a final conclusion as to whether the company will be considered insolvent but considers it probable. The Board's recommendation If the district court opens bankruptcy in DOF ASA the creditors will take over all assets in DOF ASA and the shareholders will lose everything. Even if Hordaland District Court does not open bankruptcy in DOF ASA the guarantee liability that DOF ASA has on behalf of its subsidiaries will remain. It is thus completely unlikely that the shareholders in any scenario could receive more value than the Board's proposed solution. Based on the above analyses and assessments it is the Board's clear opinion that the best solution for the company and for all of the company's stakeholders shareholders as well as creditors will be that the Board's proposal for reconstruction is implemented. - The Board would have liked to see the shareholders retain a larger share of the company than the reconstruction suggests. If it had been possible to turn back the clock and restart negotiations with the creditors today this might have been possible. However it is a fact that the DOF Group has approximately NOK 25 billion in debt on which for the most part neither interest nor instalments have been paid for more than two years says Salomonsen. - ""We are already in overtime and need a solution now. The company has been living at the mercy of its creditors for a long time. With the Board's proposal the existing shareholders will own 3.75% of a strengthened DOF ASA the company will continue its operations and the shareholders will participate in the value creation that many expect will take place in the time to come Salomonsen concludes. For further information please contact: Chairman DOF ASA: Leif Chr. Salomonsen tlf.: 992 42 888"

DOF Subsea Asia Pacific Pte Ltd has been awarded a contract to provide construction support for riser and spool installation including air and saturation diving in association with a brownfield expansion project in Malaysia. The award includes project management with an in-built saturation diving system and 140Te AHC crane is ideally suited to these operations. Mons Aase CEO DOF Subsea AS said “We look forward to safely and successfully delivering this project for our client.” For further information please contact: Mons S. Aase CEO DOF Subsea. Tel: +47 91 66 10 12 Marianne Møgster SVP Finance DOF Subsea. 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 Offshore Energy Marine Telecommunications and Renewables markets. www.dofsubsea.com

The board of directors of the subsidiaries of DOF ASA has received a new letter from the financial creditors of the DOF Group tel. +47 91 62 10 57 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 DOF ASA's previous announcements on 23 November 2022 and 9 December 2022 the Board will work closely with the company’s management its creditors and other stakeholders that are central to the company’s future."" This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Hilde Drønen CFO DOF ASA. 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"

DOF is proud to have disclosed our Environmental Data on environmental impacts and risks through CDP for 2022, alongside 18,700+ companies. We’ve been reporting our environmental performance through CDP every year since 2010 and are pleased to share our result of A- (up from last year's B). Corporate commitment to meaningful action is now more critical than ever. Great work team DOF.

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The DOF Group is pleased to announce a new contract award for its fleet in Brazil for Petróleo Brasileiro S.A. ("Petrobras"). The AHTS18000 Skandi Rio will support Petrobras' exploration and production activities on the Brazilian continental shelf. The vessel is owned and operated by Norskan Offshore Ltda. while DOF Subsea Brasil Servicios Ltda.  will be responsible for the ROV operations. Both companies are 100% owned subsidiaries of DOF ASA.

The contract duration is for 3+1-year with expected commencement in December/January. Skandi Rio is a Brazilian built and flagged AHTS vessel equipped with Work Class ROV's for operations down to 3.000m water depth.

Mons Aase, CEO in DOF Group, states: I am very pleased with the contract award, 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 3,150 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 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.