Shelf Drilling Announces Contract Update

22 Nov 2024 08:25 CET

PRESS RELEASE
SHELF DRILLING ANNOUNCES CONTRACT UPDATE

Dubai, November 22, 2024 – Shelf Drilling, Ltd. (“Shelf Drilling” or the
“Company”, OSE: SHLF) announces that it has received a notice of suspension of
operations of the High Island II rig from a customer in the Middle East. The
commencement date of the suspension is expected to be in the coming weeks.
During the suspension period Shelf Drilling will have the right to actively
market the rig to other customers and opportunities and to terminate the
contract.

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 pursuant to section
5-12 of the Norwegian Securities Trading Act.

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