Shelf Drilling (North Sea), Ltd. - Minutes of Special General Meeting

10 Oct 2024 18:05 CEST

PRESS RELEASE

SHELF DRILLING (NORTH SEA), LTD. – MINUTES OF SPECIAL GENERAL MEETING

Dubai, October 10, 2024 – Reference is made to the stock exchange announcement
as of September 16, 2024 regarding an agreement and plan of merger (the “Merger
Plan”) entered into between Shelf Drilling, Ltd. (“Shelf Drilling”), an indirect
subsidiary of Shelf Drilling (“MergerSub”), and Shelf Drilling (North Sea), Ltd.
(“Shelf Drilling North Sea”) whereby pursuant to the contemplated merger of
MergerSub with and into Shelf Drilling North Sea, Shelf Drilling North Sea will
become a wholly owned subsidiary of Shelf Drilling (the “Proposed Merger”).

Reference is also made to the subsequent announcement as of September 18, 2024,
related to the notice for the Special General Meeting of Shelf Drilling North
Sea to approve the Merger Plan, the Statutory Merger Agreement (as defined
therein) and the Proposed Merger (together, the “Merger Proposal”).

The Special General Meeting was held today, October 10, 2024, and the Merger
Proposal was adopted and approved. Please see the attached document for the
minutes of the meeting.

Tomorrow, October 11, 2024, is the last day of trading in Shelf Drilling North
Sea including the right to merger consideration.

For further information, please contact: investor.relations@shelfdrilling.com

About Shelf Drilling North Sea
Shelf Drilling North Sea is a shallow water offshore drilling contractor
primarily operating in the North Sea. The company's fit-for-purpose strategy and
fleet of modern high-specification harsh environment jack-up rigs enable it to
offer a broad range of services in the shallow water drilling markets. The
company is incorporated under the laws of Bermuda. Since October 12, 2022,
company shares are listed on the Euronext Growth Oslo Exchange under the ticker
symbol SDNS.

About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across Middle East, Southeast Asia, India, West
Africa, Mediterranean and North Sea. Shelf Drilling was founded in 2012 and has
established itself as a leader within its industry through its fit-for-purpose
strategy and close working relationship with industry leading clients. Shelf
Drilling is incorporated under the laws of the Cayman Islands with corporate
headquarters in Dubai, United Arab Emirates. The company is listed on the Oslo
Stock Exchange under the ticker “SHLF”.

Additional information about Shelf Drilling can be found at
www.shelfdrilling.com.


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

More information:
Access the news on Oslo Bors NewsWeb site

629409_Shelf Drilling (North Sea), Ltd. - SGM minutes 10Oct2024.pdf