Dolphin Drilling Supreme Court Decision

24 Jun 2025 10:27 CEST

(Oslo, 24 June, 2025 Dolphin Drilling AS (Dolphin Drilling, OSE: DDRIL) today
announces the judgment handed down by the UK Supreme Court regarding the
legacy tax case. The judgement has now been delivered and rules in favour of
HMRC. The value of the tax claim is £9.9million plus interest and costs,
estimated to total approximately £16million. Dolphin intends to have
discussions with HMRC as to the final liability amount and manner of
settlement (which will be the subject of a future disclosure).

Reference is made to the Dolphin Drilling Q1 earnings release report from the
28th of May, specifically the contingent liability noted in the ongoing legal
process vs HMRC in the UK. Following two successful appeals defending the
company's position in the First-tier Tax Tribunal in November 2020, and
against HMRC's appeal to the Upper Tribunal in August 2022, the judgement
handed down today by the Supreme Court has no mechanism for appeal and is
final.

For further information, please contact:
Ingolf Gillesdal, CFO, email: ingolf.gillesdal@dolphindrilling.com, tel: +47
920 45 320

This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication at
2025-06-24 10:27 CEST.

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