DOFSUB: Summons for bondholders' meetings in the DOF Subsea AS bond issues

08 Feb 2023 10:45 CET

Reference is made to DOF ASA's ("DOF ASA" and together with its subsidiaries the
"Group") previous announcements regarding (i) the agreement reached with a
substantial group of financial creditors and certain other stakeholders (the
"Restructuring Agreement"), (ii) the alternative implementation steps described
in the Restructuring Agreement and (iii) the agreement entered into between the
administrator of the bankruptcy estate of DOF ASA and the financial creditors of
the Group.

Following the commencement of bankruptcy of DOF ASA, the parties to the
Restructuring Agreement have agreed certain changes to the Restructuring
previously approved by the bondholders in the DOFSUB07, DOFSUB08 and DOFSUB09
bond issues (each a "Bond Issue" and collectively the "Bond Issues"), the
implementation of which are subject to a requisite majority of the bondholders
in each Bond Issue supporting these changes.

DOF Subsea AS has requested Nordic Trustee AS to summon bondholders' meetings in
the three Bond Issues to consider the approval of the proposed changes to the
Restructuring and the alternative implementation steps. The proposal is further
described in the attached summons to the bondholders' meetings in each of the
Bond Issues.

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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581678_DOFSUB Summons to Bondholders' Meeting (8 February 2023)(18422906.1).pdf