Seadrill Effects Cancellation of Treasury Shares

28 Jun 2024 17:15 CEST

Hamilton, Bermuda, June [28], 2024 – In accordance with the rules of the Oslo
Stock Exchange, Seadrill Limited (“Seadrill” or the “Company”) (NYSE & OSE:
SDRL) announces the cancellation of 5,250,707 treasury shares acquired under the
Company’s recently completed $250 million share repurchase program. Such
treasury shares represent all shares acquired under such program. Seadrill also
cancelled today an additional 1,556 treasury shares, which, in aggregate,
constituted fractional shares not permitted to be distributed in connection with
past share issuances. As a result of such cancellations, the Company now has
68,813,132 issued shares.

When taking into account the shares acquired through June 27, 2024 (not
including any shares acquired on June 28), pursuant to the share repurchase
program announced by the Company on June 25, 2024, the Company holds 52,116
treasury shares, equal to approximately 0.08% of the Company’s issued share
count.

This information is subject of the disclosure requirements pursuant to sections
4-2 and 5-12 of the Norwegian Securities Trading Act.

About Seadrill
Seadrill is setting the standard in deepwater oil and gas drilling. With its
modern fleet, experienced crews, and advanced technologies, Seadrill safely,
efficiently, and responsibly unlocks oil and gas resources for national,
integrated, and independent oil companies. For further information, visit
www.seadrill.com.

Contact
Lydia Brantley Mabry
Director of Investor Relations
ir@seadrill.com

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