DOF Group - Capital/Financing Update 2025

DOF Group ASA - Financing of field support newbuild through placement of Senior Secured Notes

(1 October 2025) DOF Group ASA ("DOF") is pleased to announce that DOF Seadragon

Canada Ltd. (the "Issuer"), a wholly owned subsidiary of DOF, has successfully

closed and funded a USD 140 million issuance of Senior Secured US Private

Placement Notes amortising over a 15 year term until its final due date in 2042.

The notes will carry a fixed rate coupon of 6.24%, payable quarterly.

The net proceeds from the notes issuance will be used to finance the

construction and delivery of one Multi-Purpose Field Support Vessel, currently

under construction in Poland and for general corporate purposes. The vessel is

expected to be delivered during the first half of 2027 and subsequently commence

a 15-year firm contract in Canada, with further extension options covering an

additional 10 years.

The transaction has been structured as a ringfenced, non-recourse project

financing covering both construction and operational phases of the vessel. The

structure enables the Issuer to pay dividends to its owner from the first year

of operations, while DOF will not need to contribute with cash towards yard

instalments or interest. The funding will be split across four delayed drawdowns

aligned with the yard's payment schedule.

DNB Markets, Inc., a part of DNB Carnegie and DNB Bank ASA, acted as sole

placement agent for the Issuer in the private placement of the notes.

Contact information:

Eirik Vardøy, Investor Relations DOF Group ASA

Phone: +47 94 83 64 64

About DOF

DOF Group ASA (OSE ticker: DOFG) is a leading provider of offshore and subsea

services to the offshore energy industry. The company owns and operates a fleet

of modern vessels which is combined with strong engineering capabilities to

provide integrated services globally.

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