Reference is made to the resolutions adopted in the bondholders' meetings in DOF
Subsea AS' three bond loans (FRN DOF Subsea AS Senior Unsecured Bond Issue
2013/2020, DOF Subsea AS 9.50% Senior Unsecured Bond Issue 2017/2022 and FRN DOF
Subsea AS Senior Unsecured Bond Issue 2018/2023) on 29 April 2022, whereby the
bondholders on certain conditions approved to extend their waiver from, and
suspension of, all payment obligations under each of the bond loans until 22
June 2022, with a possibility to further extend the standstill arrangement
currently in place to 30 September 2022 with the approval of the ad-hoc group of
bondholders (the "Ad-Hoc Group"). 

Reference is further made to the announcements on 22 June 2022 regarding the
restructuring agreement between, among others, DOF ASA, DOF Subsea AS, Iceman
AS, and the secured lenders to the DOF group and the members of the Ad-Hoc Group
(the "Restructuring Agreement"), which sets out the terms and conditions of the
planned restructuring of DOF Group's outstanding debt (the "Restructuring").

The completion of the Restructuring is dependent on the bondholders agreeing to
further extend the standstill arrangement insofar as required to implement the
Restructuring pursuant to the terms of the Restructuring Agreement. DOF Subsea
AS has therefore requested Nordic Trustee AS to summon bondholders' meetings in
the three bond loans to consider the extension of the standstill period
initially until 31 October 2022 and with a possibility to extend the standstill
period on one or more occasions to 30 November 2022 with the approval of the
Ad-Hoc Group. The proposal is further described in the attached summons to the
bondholders in the three bond loans. 

CEO Mons Aase, tel. +47 91 66 10 12
CFO Martin Lundberg, tel. +47 91 62 10 57

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
With a multi-national workforce of about 3,800 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 40 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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© Oslo Bors ASA, source Oslo Stock Exchange

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