NorAm Drilling AS – Monthly rig update and key information relating to the cash distribution for March 2025

10 Mar 2025 16:33 CET

Oslo, Norway, March 10, 2025

Commercial update:

In February 2025, the Company had 10 out of 11 rigs employed and rig utilization
was 90%.

As of March 10, 2025, approximately 90% of available rig days in March are
contracted. The contracted backlog beyond March is approximately USD 19.7
million.

Cash distribution:

The Board of Directors today approved a monthly cash distribution of
approximately USD 1.7 million based on free cash flow for February 2024. The
distribution will be made from the Company's Contributed Surplus account which
consists of previously paid in share premium transferred from the Company's
Share Premium account.

Key information:

Distribution amount: USD 0.04 per share

Declared currency: USD. Payment to shares registered with Euronext VPS will be
distributed in NOK

Date of approval: March 10, 2025

Last day including right: March 13, 2025

Ex-date: March 14, 2025

Record date: March 17, 2025

Payment date: On or about March 24, 2025

For further queries, please contact:
Marius Furuly, Director of IR and Strategy
Tel: +47 90626191


About NorAm Drilling
NorAm Drilling owns and operates a portfolio of eleven advanced drilling rigs
upgraded to maximize drilling efficiency in the Permian Basin in Texas, which is
the largest oil producing region in North America. NorAm Drilling is debt free
and has industry leading operating margins. The Company has a full pay-out
dividend strategy, targeting frequent cash distributions in a profitable market.


www.noramdrilling.com

More information:
Access the news on Oslo Bors NewsWeb site

640859_NorAm Drilling AS - Monthly Rig Update (March 2025).pdf