DOF ASA

DOF ASA: Hordaland tingrett has resolved to open bankruptcy proceedings

Reference is made to DOF ASA's (the "Company" or "DOF ASA", and together with

its subsidiaries the "Group") announcement at 21:00 on 1 February 2023 regarding

the request to Hordaland tingrett to open bankruptcy proceedings in DOF ASA and

continuation of the financial restructuring to ensure continued operations of

all other companies in the Group in spite of the bankruptcy in DOF ASA.

Hordaland tingrett has now resolved to open bankruptcy proceedings in DOF ASA

and it is expected that the administrator of the bankruptcy estate shortly will

enter into the agreement with the financial creditors of the Group facilitating

that 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. Such alternative implementation of the agreed financial 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 financial restructuring.

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 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.

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