SDRL - Disclosure of shareholding

09 Mar 2023 08:00 CET

9 March 2023: Reference is made to the stock exchange notice published on 8
March 2023 regarding a potential sale of existing shares in Seadrill Limited
(the “Company”) by Støperigata Holding AS (the “Vendor”) through a private
placement (the “Placing”).

The Vendor has sold 4,829,997 shares in the Company through the Placing
(representing 9.66% of the share capital and votes in the Company) at a price of
NOK 410 per share for a total transaction size of NOK 1,980 million.

Following completion of the Placing, the Vendor holds 4,000,000 shares in the
Company, representing 8.00% of the share capital and votes in the Company. The
Vendor is not represented on the Board of Directors of the Company. The Vendor
has entered into a customary 90-day lock-up with the Managers (as defined below)
on the remaining shares in the Company held by the Vendor after the Placing.

ABG Sundal Collier ASA and Arctic Securities AS acted as joint bookrunners in
connection with the Placing (the “Managers”).

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

More information:
Access the news on Oslo Bors NewsWeb site