Reference is made to previous announcements regarding the extension of standstill arrangements with the DOF group's secured lenders expiring30 June 2021 and extension of standstill arrangements with bondholders inDOF Subsea AS' bond issues also expiring30 June 2021 .DOF ASA andDOF Subsea AS are pleased to announce that each of the companies have agreed to extend the principal and interest suspension agreements with, or received extensions of similar concessions from, secured lenders representing in total 91% of the secured debt ofDOF ASA and its subsidiaries (other than theDOF Subsea AS group) and in total 88% of the secured debt of companies within theDOF Subsea AS group excluding DOF Subsea Brasil Servicos Ltda. until31 August 2021 .Norskan Offshore Ltda . and DOF Subsea Brasil Servicos Ltda. have applied for an extension of their standstill arrangements with BNDES, but have not yet received an approval. Reference is further made to the previous announcement on16 June 2021 regarding summons to bondholders' meetings in DOFSUB07 (ISIN NO0010971005), DOFSUB08 (ISIN NO0010788177) and DOFSUB09 (ISIN NO0010836810) in whichDOF Subsea AS requested an extension of the standstill period for the three bonds initially until31 August 2021 and with the possibility to extend to30 September 2021 with the approval of an ad-hoc committee of bondholders.DOF Subsea AS is pleased to announce that the bondholders' meetings were held today and the proposed resolution received 99.11%, 93.40% and 100.00% of the votes in DOFSUB07, DOFSUB08, and DOFSUB09, respectively. Approval of the proposal set out in the summons required 2/3 majority in all three bonds, and the proposal was consequently approved. Please see the attached minutes from the bondholders' meetings. The extensions of the standstill periods will facilitate the DOF group's continued dialogue with its secured lenders and the bondholders under the DOF group's bonds regarding a long-term financial restructuring of the DOF group. For further information, please contact: CEO Mons Aase, tel. +47 91 66 10 12 CFO DOF Hilde Drønen tel. +47 91 66 10 09 CFO DOF Subsea 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 Oil and Gas, Marine Telecommunications and Renewables markets. www.dofsubsea.com
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