Archer Limited - Disclosure of large shareholding

20 Apr 2023 13:36 CEST

Reference is made to the stock exchange announcement made by Archer Limited
("Archer") on 20 April 2023 announcing Archer's new share capital following the
issuance of 208,000,000 new common shares in Archer in connection with the
conversion of a convertible loan (the "Conversion Shares").

As a result of the issuance of the Conversion Shares, the relative share
ownership of Hemen Holding Ltd. ("Hemen") in Archer has been reduced below the
20% disclosure threshold. Hemen currently holds a total of 280,179,529 shares in
Archer, representing 19.81% of the total number of shares and voting rights in
Archer. 279,179,529 of these shares, equal to 19.74% of the shares and votes in
Archer, are held directly by Hemen, while the remaining 1,000,000 shares and
votes, equal to 0.07% of the shares in Archer, are shares that have been lent
out by Hemen.

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

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