Reference is made to previous announcement on 30 June 2021 regarding extension
of standstill arrangement with secured lenders expiring 31 August 2021 and
extension of standstill arrangement with bondholders in DOF Subsea AS' bond
issues also expiring 31 August 2021.

DOF ASA and DOF Subsea AS are pleased to announce that each of the companies
have agreed to further extend the principal and interest suspension agreements
with, or received extensions of similar concessions from, secured lenders
representing in total 91% of the secured debt of DOF ASA and DOF Rederi AS and
in total 88% of the secured debt of companies within the DOF Subsea AS group
(excluding DOF Subsea Brasil Servicos Ltda.) until 30 September 2021, and that
DOF Subsea AS has received confirmation from the ad hoc group of bondholders
that they have agreed to further extend the suspension, deferral and standstill
agreement currently in place for the bond issues to 30 September 2021.
 
The extensions of the standstill periods will facilitate the DOF group's
continued dialogue with its secured lenders and the bondholders under the DOF
group's bonds regarding a long-term financial restructuring of the DOF group.


For further information, please contact:
CEO Mons Aase, tel. +47 91 66 10 12
CFO DOF ASA 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

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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