Awilco Drilling Plc: Settlement of Arbitration Cases and end date of warrants exercise period - Update

26 Jun 2024 10:40 CEST

Further to the stock exchange release of 19 June 2024 from Awilco Drilling PLC
("Awilco Drilling") regarding the settlement of the arbitration cases, the
Company can now confirm that the settlement amount of USD 57.0 million has been
received.

According to the warrant deed dated 30 June 2023, the end date for the exercise
of the issued warrants will therefore be 27 September 2024. In order to exercise
warrants, fill out the attached form of exercise notice and send it to
ch@awilcodrilling.com no later than 27 September 2024.

Aberdeen, 26 June 2024


For further information please contact:

Eric Jacobs, CEO of Awilco Drilling PLC
Phone: +47 9529 2271

Cathrine Haavind, Investor Relations of Awilco Drilling PLC
Phone: +47 9342 8464
Email: ch@awilcodrilling.com (mailto:ch@awilcodrilling.com)

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

More information:
Access the news on Oslo Bors NewsWeb site

622421_Awilko Drilling - Warrant Deed - Appendix 2 Form of Exercise notice.pdf