Archer Limited: New share capital registered

20 Apr 2023 10:43 CEST

Hamilton, Bermuda (April 20, 2023)

Reference is made to the stock exchange announcement made by Archer Limited (the
"Company") on 6 March 2023 regarding the in-principle agreement with its secured
lenders and other stakeholders for an overall refinancing solution for the group
(the "Refinancing"), including the contemplated conversion of the group's USD
13.1 million convertible loan (the "Convertible Loan") into new common shares of
the Company to be issued to the lender, as further described in the prospectus
prepared by the Company dated 10 March 2023 (the "Prospectus").

The Convertible Loan has now been converted to 208,000,000 new common shares of
the Company (the "Conversion Shares"). The Conversion Shares have been issued in
accordance with the terms described in the Prospectus and registered in Euronext
Securities Oslo (being the Company's branch register under Bermuda law) as duly
issued. Following registration of the new share capital pertaining to the
issuance of the Conversion Shares, the Company's issued share capital is USD
14,142,649.69 divided into 1,414,264,969 common shares, each with a nominal
value of USD 0.01.

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

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