Deep Value Driller AS – Dividend of NOK 1.00 per share declared and update on dividend policy

04 Oct 2024 07:00 CEST

Oslo, 4 October 2024: Reference is made to the stock exchange notice by Deep
Value Driller AS ("DVD" or the "Company") on 26 March 2024 where DVD announced
its dividend distribution policy, and to the board authorisation granted by
DVD's annual general meeting on 14 May 2024 to resolve and distribute dividends
in line with the Company's dividend policy based on the annual accounts for
2023.

DVD's board of directors has today resolved to distribute a dividend in the
amount of NOK 1.00 per share, in total approximately NOK 86.4 million. The
dividend is expected to be paid on or about 11 October 2024 and will be regarded
as repayment of paid in capital by the shareholders of DVD. DVD notes that
pursuant to the Company's loan facility, as amended 26 March 2024, the Company
is required to retain an amount equal to 12 months of interest payments which is
not available for distribution.

As set out in the Company's stock exchange notice of 26 March 2024, DVD's
dividend distribution policy is to pay dividends from the group's operational
free cash flow, after tax and debt service, to DVD's shareholders. The board has
now resolved that dividend distributions shall be made on a monthly basis from
and including November 2024. The timing and amount of dividends, if any, are at
the discretion of the board. For tax purposes dividends will be classified as a
repayment of paid in capital and not a taxable dividend, for as long as there is
paid-in capital available on DVD's shares. For more information about the
Company's dividend policy, please refer to the stock exchange notice of 26 March
2024.

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Contacts:
Svend Anton Maier, CEO
+47 41 42 71 29
sam@deepvaluedriller.no

About Deep Value Driller

Deep Value Driller AS is a drillship-owning company which owns the high
specification UDW 7th generation drillship "Deep Value Driller", built in 2014.
As part of its strategy, the company has an ambition to create and maximise
value for its customers and investors, while at the same time ensuring safe and
sustainable operation of its drillship. For further information, visit
http://www.deepvaluedriller.no.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act and the Euronext Growth Rule Book
part II.

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