DOF ASA

Approval of the Annual Accounts 2019 and proposed changes to the Board

The Board of Directors has today approved the Annual Report 2019 and the

Sustainability Report 2019. Compared to 4[th ]quarter financial report published

on 21[st ]of February, main part of the DOF Group's long term debt has been

reclassified as short term debt.

The General Meeting is scheduled for Thursday 28[th] of May 2020 at Storebø in

accordance with the financial calendar. Notice of General Meeting and the agenda

with attachments will be published through Oslo Børs and www.dof.com.

Notice of General Meeting will also be sent by post to the shareholders.

Helge Møgster has announced that he will resign as Chairman of the Board in DOF

ASA. The nomination committee has proposed Hans Olav Lindal as new Chairman of

the Board. The proposal will be put forward to the company`s shareholders in the

General Meeting on 28[th ]of May.

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 3,500 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.

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