DOF ASA

Major Shareholding Notification • Sep 25, 2020

DOF ASA: COMPLETED DEMERGER OF MØGSTER MOHN OFFSHORE AS AND DISCLOSURE OF LARGE SHAREHOLDINGS

DOF ASA: COMPLETED DEMERGER OF MØGSTER MOHN OFFSHORE AS AND DISCLOSURE OF LARGE SHAREHOLDINGS

Reference is made to the announcement made on 17 June 2020 regarding the

demerger of Møgster Mohn Offshore AS ("MMO"). The demerger has today been

completed and registered with the Norwegian Register of Business Enterprises,

with the effect that 50,631,330 of the 150,638,643 shares MMO owns in DOF ASA

have been transferred to Perestroika Industri AS, resulting in Perestroika

Industri AS holding shares representing 16.45% of the outstanding shares and

votes in DOF ASA.

Perestroika Industri AS is a company wholly owned by Perestroika AS, which in

turn is a company wholly owned by Frederik W. Mohn.

MMO holds 100,007,313 shares, representing 32.49% of the outstanding shares and

votes in DOF ASA following completion of the demerger.

Laco AS, as the majority shareholder in MMO, owns indirectly 100,005,652 shares

(representing 32.49% of the outstanding shares and votes) in DOF ASA following

completion of the demerger.

This announcement is subject to disclosure pursuant to section 4-3 of the

Norwegian Securities Trading Act.