Archer Limited - Disclosure of large shareholdings

24 Apr 2023 12:43 CEST

Reference is made to the stock exchange announcement made by Archer Limited
("Archer") on 24 April 2023 announcing Archer's new share capital following the
issuance of 208,000,000 new common shares of the Company (the "Compensation
Shares") to be delivered to the backstop participants in the 2nd Lien USD 200
million bond issue made by Archer Norge AS, a subsidiary of Archer.

As a result of the issuance of the Compensation Shares, the relative share
ownership of Paratus JU Newco Bermuda Limited ("Paratus") in Archer has been
reduced below the 25% disclosure threshold. Paratus currently holds a total of
392,305,324 shares in the Company, representing 24.18% of the total number of
shares and voting rights in the Company.

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

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