DOF ASA

AGM Information • Oct 21, 2022

DOF ASA: NOTICE OF EXTRAORDINARY GENERAL MEETING AND NEW LONG STOP DATE FOR THE RESTRUCTURING AGREEMENT

DOF ASA: NOTICE OF EXTRAORDINARY GENERAL MEETING AND NEW LONG STOP DATE FOR THE RESTRUCTURING AGREEMENT

Reference is made to the announcement made by DOF ASA ("DOF") and its subsidiary

DOF Subsea AS on 22 June 2022 regarding the execution of an agreement (the

"Restructuring Agreement") with a substantial group of creditors and certain

other stakeholders on a comprehensive financial restructuring (the

"Restructuring") and the announcement on 13 October 2022 regarding the update on

the Restructuring process.

The Extraordinary General Meeting relating to the Restructuring will be held on

Friday 11 November 2022 at 12:00 hours as an electronic meeting. Shareholders

who wish to participate and vote at the Extraordinary General Meeting must be

registered with a user profile in the meeting portal Orgbrain (www.orgbrain.no)

or submit a proxy to the Company by 12:00 hrs CET on 7 November 2022.

Information about participation and registration is included in the notice and

its appendices and is attached to this announcement and also available on the

Company's website www.dof.com. Further information about the electronic

participation will be published on the Company's website www.dof.com and

distributed to the shareholders who fill in and return the registration form.

A paper version of the notice will be sent by post to those shareholders who

have reserved themselves against electronic communication on the VPS Investor

Services.

In addition, DOF is pleased to announce that the senior creditors that are

parties to the Restructuring Agreement have agreed to extend the Long Stop Date

in the Restructuring Agreement to 30 November 2022, and that the ad-hoc group of

bondholders in DOF Subsea AS' 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) has extended the

standstill arrangements with the bondholders to 30 November 2022 in accordance

with the authority granted in the bondholders' meetings held on 30 September

2022. The sole purpose of such extensions is to enable that the agreed

Restructuring can be implemented.

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 3,900 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 Stock Exchange since 1997.