Akastor ASA: Restructuring of DDW Offshore completed

Reference is made to the stock exchange release dated 27 August 2020 regarding the restructuring of DDW Offshore AS (previously named DOF Deepwater AS). Final agreements consistent with the key principles set out in the release have been entered into by all parties. Effective from 9 October 2020, Akastor AS owns all shares in DDW Offshore AS.

DDW Offshore AS will be consolidated into Akastor Group as a subsidiary as from Q4 2020.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Mobile: +47 917 59 705

E-mail: oyvind.paaske@akastor.com

Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.

DDW Offshore owns five modern Anchor Handling Tug Supply (AHTS) vessels with capability to operate and support clients on a world-wide basis. The vessels are specially designed to perform anchor-handling, towing, and supply services at offshore oil and gas fields. More information is available at www.ddwoffshore.com.