Shelf Drilling, Ltd – Shareholder disclosure notification

02 Feb 2023 07:52 CET

Reference is made to the stock exchange announcement published by Shelf
Drilling, Ltd. (the "Issuer") on 31 January 2023 regarding the completion of a
private placement (the "Private Placement") through the allocation of 17,636,876
new shares.

Funds and entities managed by Anchorage Capital Group, L.L.C. and its affiliates
("Anchorage Capital"), own 9,239,104 shares in the Issuer. Following the
completion of the Private Placement, in which Anchorage Capital did not
participate, Anchorage Capital has passively crossed below the 5% threshold.
Anchorage Capital has an aggregated holding corresponding to 4.76% of the total
share capital and votes following registration of the share capital increase
pertaining to the Private Placement.

Anchorage Capital Group, L.L.C (for and on behalf of funds and entities managed
by it or its affiliates) is the disclosing party on an aggregated level. The
shares are held by AIO VII S.à r.l. and ACOF VIII Europe Limited, who are
managed by, respectively, Anchorage Capital Group, L.L.C. and Anchorage
Opportunities Advisor, L.L.C.

This disclosure is made pursuant to section 4-2 of the Norwegian Securities
Trading Act.

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