DOFSUB: Information to the bondholders

Reference is made to the previous announcements related to the implementation of the restructuring of the DOF ASA group (the "Restructuring") following the commencement of bankruptcy proceedings in DOF ASA, and the changes to the NO0010971005 (DOFSUB07), NO0010788177 (DOFSUB08) and NO0010836810 (DOFSUB09) bond issues (each a "Bond Issue" and collectively the "Bond Issues") approved by a majority of the bondholders in each of the Bond Issues in the Bondholders' meetings held on 7 November 2022 and 23 February 2023 respectively.

Attached is a step plan and an indicative timeline prepared by Nordic Trustee AS setting out the relevant conversion steps in the CSD to facilitate the exchange of bonds issued in the existing Bond Issues into new bonds issued by the Issuer and shares in DOF Services AS, as contemplated by the Restructuring.

All trading in the bonds (all ISINs related to the existing Bond Issues) will be blocked from end of business on 22 March 2023 and until all existing bonds in the Bond Issues have been exchanged for new bonds issued by the Issuer and shares in DOF Services AS.

To allow sufficient time for trades to settle before the bonds are blocked, the last day of ordinary trading in the bonds will be 20 March 2023. Trades completed after this date may not be possible to settle.

>>> Info to Bondholders re exchange of Bonds - dated 20 March 2023 (PDF)

For further information, please contact:
CEO Mons Aase, tel. +47 91 66 10 12
CFO Hilde Drønen, tel. +47 91 66 10 09
CFO DOF Subsea AS 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.

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