DOF ASA

Earnings Release • Feb 20, 2020

DOF Subsea awarded contracts inAfrica

DOF Subsea is pleased to announce two contract-awards for international clients in Africa, securing further vessel and resource utilisation in Q1 and first part of Q2 2020.

The first contract is for seismic nodes installation in Nigeria for an undisclosed client. The work will be executed fromthe CSV Geosund.

The second contract is an extension to existing contract with a major operator inAngola to support a varietyof subsea activities. For this project, the companywill deploythe CSV Skandi Seven which has alreadybeen operating for the client in Angola for some time.

For further information, please contact:

CEO MonsAase, tel: +47 91 66 10 12

CFO Hilde Drønen, 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.