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Prospectus As Required by Applicable Laws and No Securities Are Being Offered Or Sold Pursuant to This Prospectus

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Prospectus As Required by Applicable Laws and No Securities Are Being Offered Or Sold Pursuant to This Prospectus Registration Document DOF ASA (a public limited liability company organized under the laws of the Kingdom of Norway) Business Registration number 935 349 230 Listing on Oslo Børs Joint Lead Managers: 25 April 2012 This Registration Document does not constitute an offer to buy, subscribe or sell the securities described herein. This Registration Document combined with the relevant Securities Document serve as a listing Prospectus as required by applicable laws and no securities are being offered or sold pursuant to this Prospectus. IMPORTANT NOTICE This Registration Document (the “Registration Document”) has been prepared by DOF ASA (“DOF” or the “Company”) for use in connection with the listing of Company’s bonds on Oslo Børs (the “Listing”). The Registration Document combined with the relevant Securities Note constitute a Prospectus (the “Prospectus”). For the definitions of terms used throughout this Registration Document, see Section 10 “Definitions and Glossary”. This Registration Document has been prepared to comply with chapter 7 of the Norwegian Securities Trading Act of 29 June 2007 No. 75 (Nw: Verdipapirhandelloven) (“Norwegian Securities Trading Act”) and related secondary legislation including the Prospectus Directive (EC Commission Regulation EC/809/2004). The Financial Supervisory Authority of Norway (Nw: Finanstilsynet) (“NFSA”) has reviewed and approved this Registration Document in accordance with Section 7-7 and 7-8 of the Norwegian Securities Trading Act. The Registration Document has been prepared in the English language only. The information contained herein is as of the date of this Registration Document and subject to change, completion or amendment without notice. In accordance with Section 7-15 of the Norwegian Securities Trading Act, any new factor, significant error or inaccuracy that might have an effect on the assessment of the Bond Issue contemplated hereby and emerges between the time of approval of the Registration Document and the Listing, will be included in a supplement to the Registration Document. Neither the approval nor distribution or use of this Registration Document shall under any circumstances create any implication that the information herein is correct as of any date subsequent to the date of the Registration Document. All inquiries relating to this Registration Document should be directed to the Company. No other person has been authorized to give any information about, or make any representation on behalf of, the Company in connection with the Listing and, if given or made, such other information or representation must not be relied upon as having been authorized by the Company. Unless otherwise indicated, the source of the information in this Registration Document is the Company. The contents of this Registration Document are not to be construed as legal, business or tax advice. Each reader of the Registration Document should consult with its own professional advisors for legal, business and tax advice. If you are in any doubt about the contents of this Registration Document, you should consult your stockbroker, bank manager, lawyer, accountant or other professional advisor. An investment in bonds involves inherent risks. Prospective investors in Bonds issued by the Company should carefully consider the risks associated with the investment when reading the information contained in this Registration Document, and be aware of the risk of losing such investment in its entirety, before deciding to invest. A summary of risk factors are set out in Section 1 “Risk Factors”. However, prospective investors should read the entire Registration Document before making any investment decision. Offering restrictions The distribution of this Registration Document may in certain jurisdictions be restricted by law (including, but not limited to, the United States, Canada, Australia, Japan and South Africa). Persons in possession of this Registration Document are required to inform themselves about and to observe any such restrictions. This Registration Document does not constitute an offer of, or an invitation to subscribe or purchase, any bonds or other securities The securities described in this Registration Document have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S of the U.S. Securities Act). Furthermore, the bonds may not be offered or sold in or into Canada, Japan, the Republic of South Africa or Australia. In relation to the United Kingdom, this Registration Document is only directed at, and may only be distributed to, persons who fall within the scope of Article 19 (Investment Professionals) and 49 (High Net Worth Companies, Unincorporated Associations etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (as amended) or who are persons to whom the document may otherwise be lawfully distributed. This Registration Document may only be distributed in circumstances which do not result in an offer to the public in the United Kingdom within the meaning of Public Offers of Securities Regulations 1995 (as amended). The distribution (which term shall include any form of communication) of this Registration Document may be restricted pursuant to Section 21 (Restrictions on Financial Promotion) of the Financial Services and Markets Act 2000 (as amended). For certain restrictions on resale, see section 1.1.12 “Transfer restrictions”. Except for the approval by NFSA as described above, no action has been taken or will be taken in any jurisdiction by the Company or the Manager that would permit a public offering of Bonds issued by the Company, or the possession or distribution of any documents relating to the Listing, or any amendment or supplement thereto, i hereunder but not limited to this Registration Document, in any country or jurisdiction where specific action for that purpose is required. Any person receiving this Registration Document is required by the Company and the Manager to inform themselves about and to observe such restrictions. The restrictions and limitations listed and described herein are not exhaustive, and other restrictions and limitations that are not known or identified by the Company or the Manager at the date of this Registration Document may apply in various jurisdictions as they relate to the Listing and the Registration Document. This Registration Document is subject to Norwegian law, unless otherwise indicated herein. Any dispute arising in respect of this Listing or this Registration Document is subject to the exclusive jurisdiction of the Norwegian courts, with Bergen District Court as exclusive venue. ii Table of contents 1 Risk Factors .................................................................................................................................... 2 2 Responsibility Statement ............................................................................................................... 6 3 Company Overview ....................................................................................................................... 7 4 Board and Management .............................................................................................................. 16 5 Corporate Governance ................................................................................................................ 18 6 Legal Matters ............................................................................................................................... 19 7 Financial Information .................................................................................................................. 21 8 Share Capital and Shareholder Matters .................................................................................... 25 9 Additional Information ............................................................................................................... 26 10 Definitions and Glossary ............................................................................................................. 27 1 1 RISK FACTORS Investing in Bonds issued by the Company involves inherent risks. Prospective investors should carefully consider the following risk factors, in addition to the other information presented in this Registration Document and in the Securities Document, collectively referred to as the Prospectus, before making an investment decision. If any of the following risks occur, potential investors could lose the entire value of their investment in the Company’s securities. A prospective investor should consider carefully the factors set forth below, , and should consult his or her own expert advisors as to the suitability of an investment in the Bonds. An investment in the Bonds is suitable only for investors who understand the risk factors associated with this type of investment and who can afford a loss of all or part of the investment. Such information is presented as of the date hereof and is subject to change, completion or amendment without notice. 1.1 Financial Risk Factors 1.1.1 Financing risk The DOF Group will be financed with both equity and debt. The DOF Group is therefore exposed to the risks associated with debt financing. Payments required for servicing debt could adversely affect the DOF Group; reduce or postpone investments and/or at unforeseen times and/or at unattractive conditions require the DOF Group
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