NODL: Disclosure of shareholding

08 Feb 2023 17:24 CET

Reference is made to the announcement by Northern Drilling Ltd. (“NODL” or the
"Company") on 2 February 2023 regarding a private placement of new shares by NOL
and the disclosure of shareholding in NOL by Hemen Holding Ltd (“Hemen”) on 8
March 2023. Hemen’s share lending has been settled by the redelivery to Hemen of
new shares in NOL. The share lending, and the redelivery thereof, does not
affect Hemen’s exposure to the Company. The shares are now redelivered to Hemen.
Hemen was allocated 1,306,237 shares in the placement, corresponding to approx.
40,6% of the offering. Following completion of the placement, Hemen holds
7,861,388 shares in NOL, corresponding to approx. 40,6% of the shares
outstanding.

This notification is made pursuant to Section 4-2 of the Norwegian Securities
Trading Act.

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