Archer Limited: Archer's acquisition of Baker Hughes' Coil Tubing and Pumping business in the UK is approved by the UK CMA

02 Mar 2023 16:52 CET

Hamilton, Bermuda (March 2, 2023)

Reference is made to the announcement on February 8, 2023, wherein Archer
announced the acquisition of Baker Hughes' Coil Tubing and Pumping business in
the UK (the "Transaction"), subject to the approval by the UK Competition and
Markets Authority (the "CMA").

Archer is pleased to announce that the CMA has approved the Transaction and
final closing will occur in early April 2023.

For additional information, please contact:

Dag Skindlo, Chief Executive Officer, Mobile:+4798226624, Email:
dag.skindlo@archerwell.com

Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email:
espen.joranger@archerwell.com

Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78
748, Email: joachim.houeland@archerwell.com

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

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