DOF ASA

Share Issue/Capital Change • Dec 19, 2019

DOF ASA – New share capital

Reference is made to the stock exchange announcement on 30 October 2019 in which it was announced that the extraordinary general meeting of DOF ASA ("DOF" or the "Company") had resolved to reduce the share capital of the Company from NOK 1,504,438,895 to NOK 300,887,779, by reducing the nominal value per share from NOK 5 to NOK 1.

The share capital reduction has now been registered with the Norwegian Register of Business Enterprises. Following the share capital reduction, the Company's share capital is NOK 300,887,779, divided into 300,887,779 shares, each with a nominal value of NOK 1.

For further information, please contact:

CEO Mons Aase, 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.