DOF Group ASA - Financial Report for 1st quarter 2026

22 May 2026 07:00 CEST

DOF Group ASA's ("DOF" or the "Group") revenue for 1st quarter (management
reporting) totals USD 502 million (USD 428 million) and EBITDA totals USD 175
million (USD 158 million). The operating profit (EBIT) is USD 105 million (USD
99 million). Net financial cost amounts to USD 1 million (USD 8 million),
including unrealised currency gain of USD 32 million (gain USD 53 million). The
result after taxes is USD 69 million (USD 75 million). The Group's net interest
-bearing debt is USD 1,536 million (USD 1,383 million). The equity is USD 2,048
million (USD 1,861 million) giving an equity ratio of 49% (49%).

Key Highlights in 1st quarter
.    The Group delivered EBITDA of USD 175 million (USD 158 million)
.    Utilisation of 82% (83%)
.    The NIBD/LTM EBITDA is 1.9x
.    Dividend for the quarter of USD 0.37 per share declared
.    Firm backlog by end March is USD 4.9 billion (USD 3.1 billion), and USD 6.9
billion including contracts after balance date.

Note: all numbers commented above are based on management reporting.

Please see enclosed 1st quarter Financial Report 2026 and presentation.
A webcast, followed by a Q&A session, will be available on Friday, 22 May at
14:00 CET on www.dof.com/webcast.

Contact information:
Martin Lundberg, CFO, DOF Group ASA
Phone: +47 91 62 10 57

About DOF:
DOF Group ASA (OSE ticker: DOFG) is a leading provider of offshore and subsea
services to the offshore energy industry. The company owns and operates a fleet
of modern offshore/subsea vessels which is combined with strong engineering
capabilities to provide integrated offshore services globally.
www.dof.com

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674250_DOF_Group_ASA_Presentation_Q1_2026.pdf
674250_DOF_Group_ASA_Financial_Report_Q1_2026.pdf