Reference is made to previous announcements on21 January 2021 ,28 March 2021 and30 April 2021 , respectively, regarding extension of standstill arrangement with secured lenders expiring31 May 2021 and extension of standstill arrangement with bondholders inDOF Subsea AS' bond issues also expiring31 May 2021 .DOF ASA andDOF Subsea AS are now pleased to announce that each of the companies have agreed to further extend the principal and interest suspension agreements with, or received extension of similar concessions from, secured lenders representing in total 91% of the secured debt ofDOF ASA andDOF Rederi AS , and in total 88% of the secured debt of companies within theDOF Subsea AS group (excluding DOF Subsea Brasil Servicos Ltda.) until30 June 2021 .DOF Subsea AS has also received confirmation from the ad hoc group of bondholders that they have agreed to further extend the suspension, deferral and standstill arrangement currently in place for the bond issues until30 June 2021 . The current stand-still arrangement with BNDES toNorskan Offshore Ltda . and DOF Subsea Brasil Servicos Ltda. will expire on10 June 2021 , and further extensions have been sought from BNDES. In the event that such further stand-still is not obtained from BNDES, the continuation of the extended stand-still with the other secured lenders will require acceptance from the secured lenders to servicing of certain debt to BNDES. The extensions of the stand-still periods are entered into to facilitate the Group's continued dialogue with its secured lenders and the bondholders under the Group's bond loans regarding a long-term financial restructuring of the Group. For further information, please contact: CEO Mons Aase, tel. +47 91 66 10 12 CFO DOF Hilde Drønen, tel. +47 91 66 10 09 CFO DOF Subsea Martin Lundberg, tel. +47 91 62 10 57 About DOF Subsea:The DOF Subsea Group is a specialist subsea service business that provides subsea construction, subsea engineering, inspection, repair and maintenance and survey services, which involve complex and challenging engineering in an international environment. DOF Subsea owns a large fleet of modern subsea construction, intervention and survey vessels that enable it to offer differentiated positions with its clients and work in long term relationships, which enhance service delivery and reduce the overall risk. The company's core business is project management, engineering, vessel operations, survey, remote intervention and diving operations, primarily for the Oil and Gas, Marine Telecommunications and Renewables markets. www.dofsubsea.com
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