Archer Limited: New share capital registered

24 Apr 2023 12:40 CEST

Hamilton, Bermuda (April 24, 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"). Reference is further made to the stock exchange
announcement made by the Company on 3 April 2023, regarding the issuance of a
fully backstopped 2nd Lien USD 200 million bond issue (the "Second Lien Bonds")
by the Company's subsidiary Archer Norge AS. The Company has today issued
208,000,000 new common shares in the Company (the "Compensation Shares") in
preparation for closing of the Refinancing. The Compensation Shares, as further
described in the prospectus prepared by the Company dated 10 March 2023, will be
delivered to the backstop parties in the Second Lien Bonds at closing of the
Refinancing.

Following registration of the new share capital pertaining to the issuance of
the Compensation Shares, the Company's issued share capital is USD 16,222,649.69
divided into 1,622,264,969 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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