LETTER FROM THE FINANCIAL CREDITORS

15 Dec 2022 12:25 CET

The board of directors of the subsidiaries of DOF ASA has received a new letter
from the financial creditors of the DOF Group, in which it is expressed that the
process of completing the Restructuring Agreement will continue and that any
adverse effects of the Restructuring should only apply to DOF ASA which now is
merely a holding company with no operations. The financial creditors further
express its continued support throughout the process. As such, all operations
within the DOF Group will continue as normal.

Enclosed: letter from the financial creditors

For further information, please contact:
CEO Mons Aase, tel. + 47 91 66 10 12
CFO 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
Offshore Energy, Marine Telecommunications and Renewables markets.

www.dofsubsea.com

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578259_DOF - Creditor support letter - 2022 12 14(16908929.1).pdf