DOF ASA: EXTRAORDINARY GENERAL MEETING VOTED AGAINST THE PROPOSED CONSENSUAL RESTRUCTURING

11 Nov 2022 13:10 CET

Reference is made to the notice of the extraordinary general meeting (the "EGM")
in DOF ASA ("DOF" and together with its subsidiaries the "Group") published on
21 October 2022.

The EGM has today voted against the resolutions required to implement the
proposed restructuring of the Group in a consensual manner.

The minutes from the EGM will be published shortly.

As informed in the announcement made on 3 November 20221, DOF and the creditors
of the Group have for this scenario agreed to implement the proposed
restructuring of DOF as a forced process pursuant to the Norwegian
Reconstruction Act or through a bankruptcy in DOF, as previously communicated.
Further information will be provided in due course.

For further information, please contact:
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.
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
Offshore Energy, Marine Telecommunications and Renewables markets.

www.dofsubsea.com

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