NorAm Drilling AS – New share capital registered

30 Aug 2024 13:52 CEST

Oslo, Norway, August 30, 2024

Reference is made to the announcement on 24 July 2024 by NorAm Drilling
regarding the issuance of 114,103 new shares following share option exercises by
a member of management on the same date.

The resolution made by the Board of Directors to increase the share capital by
issuance of new shares was today registered with the Norwegian Register of
Business Enterprises. The new shares were issued pursuant to an authorisation to
issue new shares granted to the Board of Directors on the Company's annual
general meeting on 11 June 2024.

Following this, NorAm Drilling’s new share capital is NOK 86,510,192 consisting
of 43,255,096 shares, each with a par value of NOK 2.00.


For further queries, please contact:
Marius Furuly, Director of IR and Strategy
Tel: +47 90626191

About NorAm Drilling
NorAm Drilling owns and operates a portfolio of eleven advanced drilling rigs
upgraded to maximize drilling efficiency in the Permian Basin in Texas, which is
the largest oil producing region in North America. NorAm Drilling is debt free
and has industry leading operating margins. The Company has a full pay-out
dividend strategy, targeting frequent cash distributions in a profitable market.

www.noramdrilling.com

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