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New share capital

Reference is made to previous stock exchange announcements regarding the subordinated convertible bond loan issued by DOF ASA ("DOF" or the "Company") on 5 August 2016 (the "Subordinated Convertible Bond").

Bondholders in the Subordinated Convertible Bond have in accordance with the terms and conditions of the Subordinated Convertible Bond requested to convert bonds with an aggregate nominal value of NOK 28,342,387 to new shares in the Company.

As a result, the share capital of the Company has today, 1 August 2017, been increased with NOK 14,171,193.50 by issuance of 28,342,387 new shares, each with a nominal value of NOK 0.50, at the conversion price of NOK 1.00 per share. Following the share capital increase, the Company's share capital is NOK 828,860,092, divided into 1,657,720,184 shares, each with a nominal value of NOK 0.50.

The new shares will be registered on the respective bondholders' VPS accounts and be tradable on the Oslo Stock Exchange from and including 2 August 2017.

Following the conversion, the new outstanding amount under the Subordinated Convertible Bond is NOK 336,841,498.

For further information, please contact:

CEO Mons Aase, tel. +47 91 66 10 12
CFO Hilde Drønen, tel. +47 91 66 10 09