Shelf Drilling Primary Insider Notification

15 Nov 2024 03:55 CET

PRESS RELEASE
SHELF DRILLING PRIMARY INSIDER NOTIFICATION

Dubai, November 15, 2024: Reference is made to the announcement by Shelf
Drilling, Ltd. ("Shelf Drilling" or the "Company", OSE: SHLF) today, regarding
the issuance of a total of 155,771 new common shares in the Company without any
consideration, as settlement of restricted stock units ("RSUs") under the
Company's 2017 Long-Term Incentive Plan pursuant to which the following primary
insiders or the sponsor firm they represent received common shares in the
Company as further specified in the attached forms of notification:

- Ernie Danner, Director
- John K. Castle, Director
- David B. Pittaway, Director
- Benjamin Sebel, Director
- Usama Trabulsi, Director
- David Williams, Director
- Mei Xianzhi, Director

Reference is also made to the announcement made by Shelf Drilling on November
13, 2024, regarding the award of 33,716 new RSUs to each of the non-executive
directors of the Company listed below or the sponsor firm that such director
represents, which were granted on November 14, 2024 as further specified in the
attached forms of notification:

- Ernie Danner, Director
- John K. Castle, Director
- David B. Pittaway, Director
- Benjamin Sebel, Director
- Usama Trabulsi, Director
- David Williams, Director
- Mei Xianzhi, Director

The new RSUs shall vest on the first anniversary from the date of grant and
shall each be settled in exchange for one common share in the Company against no
consideration, subject to each director’s continued service with the Company.

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. The
Company 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.

Contact details
For questions or comments, please contact investor.relations@shelfdrilling.com

This information is subject to the disclosure requirements in article 19 of
Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the
Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

632311_PDMR Forms (Nov 2024).pdf