Results from the bondholders' meetings in the DOF Subsea AS bond issues

Reference is made to the summons to the bondholders' meetings in each of the DOFSUB07, DOFSUB08 and DOFSUB09 bond issues (each a "Bond Issue" and collectively the "Bond Issues") dated 8 February 2023 (the "Summons"), and 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.

We are pleased to announce that the bondholders in each of the Bond Issues have voted in support of the proposed changes to the Restructuring and the alternative implementation steps described in the Summons. The notice from the bondholders' meetings issued by Nordic Trustee AS today is attached hereto.

In preparation for and as part of the Restructuring the Issuer has delivered all its Issuer's Bonds to the paying agent, with instructions that the Issuer's Bonds be cancelled effective today, 23 February 2023.

Furthermore, in order to facilitate the practical implementation of the Restructuring in the CSD, Nordic Trustee AS has instructed the paying agent to split the nominal amount of bonds in the DOFSUB08 Bond Issue from USD 100,000 to USD 1 and the nominal amount of bonds in the DOFSUB09 Bond Issue from NOK 500,000 to NOK 1.

Updated information on the practical implementation of the Restructuring will be announced on a regular basis until completion of the Restructuring has occurred.

>>> Notice from the Bondholders' Meetings (PDF)

For further information, please contact:
CEO Mons Aase, tel. +47 91 66 10 12
CFO 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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