Shelf Drilling - Primary Insider Notification

11 Feb 2025 19:04 CET

PRESS RELEASE

SHELF DRILLING PRIMARY INSIDER NOTIFICATION

Dubai, February 11, 2025: Reference is made to the announcement by Shelf
Drilling, Ltd. (“Shelf Drilling” or the “Company”, OSE: SHLF) on February 7,
2025, regarding the issuance of a total of 544,147 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
certain primary insiders received common shares in the Company. Such share
issues are further specified in the attached forms of notification. In addition,
in order to cover taxes payable upon delivery of the common shares, a primary
insider has sold common shares in the market as further specified in the
attached form of notification.

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

638282_SHLF - PDMR Forms - LTIP (11 Feb 2025).pdf