Archer Limited: Disclosure of large shareholding

31 Oct 2024 08:00 CET

Hamilton, Bermuda (31 October 2024)

Reference is made to the announcements made by Archer Limited ("Archer" or the
"Company") on 30 October 2024 and 31 October 2024 regarding the private
placement (the "Private Placement") of new shares in the Company ("Shares").

Paratus JU Newco Bermuda Limited, a wholly owned subsidiary of Paratus Energy
Services Ltd. ("Paratus"), has subscribed for and been conditionally allocated
5,891,614 Shares in the Private Placement announced by Archer. Paratus has been
allocated Shares in Tranche 2, and the issuance and delivery of such shares are
subject to approval by the special general meeting in Archer.

Prior to the Private Placement, Paratus held 15,692,212 Shares, representing
24.15% of the share capital and votes in the Company.

Following the delivery of Shares in tranche 1 of the Private Placement, Paratus
will be temporarily diluted to 19.99% of the issued share capital of Archer, and
will accordingly temporarily cross below the 20% threshold pursuant to Section 4
-2 (1) of the Norwegian Securities Trading Act.

Subject to, and following issuance and delivery of the new Shares pertaining to
Tranche 2 in the Private Placement, Paratus will hold 21,583,826 Shares in
Archer, equal to 24.15% of the share capital of Archer. Paratus ownership in
Archer following the transaction is unchanged.

For further information, please refer to the press releases regarding the
Private Placement announced by Archer on ticker "ARCH" on 30 October 2024 and 31
October 2024.

This information is subject to the disclosure requirements pursuant to section 4
-2 of the Norwegian Securities Trading Act.

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