Reference is made to the resolutions adopted in the bondholders' meetings in DOF
Subsea AS' three bond loans (FRN DOF Subsea AS Senior Unsecured Bond Issue
2013/2020, DOF Subsea AS 9.50% Senior Unsecured Bond Issue 2017/2022 and FRN DOF
Subsea AS Senior Unsecured Bond Issue 2018/2023) on 30 June 2021, whereby the
bondholders on certain conditions approved to extend their waiver from, and
suspension of, all payment obligations under each of the bond loans until 31
August 2021, with a possibility to further extend the standstill arrangement
currently in place to 30 September 2021 with the approval of the ad-hoc
committee of bondholders.

Reference is further made to the announcement on 31 August 2021 regarding the ad
-hoc committee's approval of extension of the standstill arrangement with the
bondholders described above to 30 September 2021.

Discussions and negotiations on the restructuring of the DOF group (the "Group")
are progressing, and the Group, its secured lenders and the advisers to the
bondholders have since the bondholders' meetings in June 2021 continued
negotiations on an overall financial restructuring of the Group. Further
progress has been made in such negotiations, but there are still certain issues
that remain to be resolved to achieve an overall consensual restructuring of the
Group.

DOF Subsea AS has therefore requested Nordic Trustee AS to summon bondholders'
meetings in the three bond loans to consider the extension of the standstill
period initially until 31 October 2021 and with a possibility to extend the
standstill period on one or more occasions to 28 February 2022 with the approval
of an ad-hoc committee of bondholders. The proposal is further described in the
attached summons to the bondholders in the three bond loans. A request has also
been made to the Group's secured lenders to extend the suspension of payments of
principal and interest that have been granted by a majority of its secured
lenders.

For further information, please contact:

CEO Mons Aase, tel. +47 91 66 10 12

CFO Hilde Drønen, tel. +47 91 66 10 09



This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

With a multi-national workforce of about 3,800 personnel, DOF ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity. DOF's core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, survey, remote intervention
and diving operations primarily for the oil and gas sector. From PSV charter to
Subsea engineering, DOF offers a full spectrum of top quality offshore services
to facilitate an ever-growing and demanding industry.

The company's main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Canada, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.