Restructuring of DOF Deepwater AS completed

Reference is made to the stock exchange release dated 27 August 2020 regarding the restructuring of DOF Deepwater AS (“DDW ”), now renamed to DDW Offshore AS. Final agreements have now been entered into by all parties and Akastor will from today own all the shares in DDW. DDW will not be included in the DOF Group’s reporting from Q4 2020.

For further information, please contact:

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

CFO Hilde Drønen, tel: + 91 66 10 09

With a multi-national workforce of about 3,150 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 35 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.