Dolphin Drilling AS New share capital registered

22 Jul 2025 11:40 CEST

Oslo, 22 July 2025: Reference is made to the stock exchange announcements made
by Dolphin Drilling AS (the "Company") on 30 May 2025 regarding the private
placement of 29,764,440,000 new shares in the Company, raising gross proceeds
of NOK 297,644,400, equal to approx. USD 29 million (the "Private Placement"),
and on 17 June 2025 regarding the Company's extraordinary general meeting
resolving to approve inter alia (i) the share capital decrease by reduction of
the nominal value of the Company's shares, (ii) the issuance of new shares in
the Private Placement, (iii) to grant the board of directors an authorisation
to issue new shares as compensation to the pre-committing investors in the
Private Placement, and (vi) issuance of new shares in connection with a
proposed subsequent offering.

The share capital decrease by reduction of the par value of the Company's
shares (item (i) above) and the share capital increase pertaining to the
issuance of new shares in connection with the Private Placement (item (ii)
above) have been registered with the Norwegian Register of Business
Enterprises:

Share capital: NOK 300,563,300.99
Total number of shares: 30,056,330,099
Par value of each share: NOK 0.01

For further information, please contact:

Ingolf Gillesdal, CFO

Mob: +47 920 45 320

Mail: Ingolf.gillesdal@dolphindrilling.com

About Dolphin Drilling AS:

Dolphin Drilling AS is an Oslo listed, Aberdeen head-quartered, company which
owns and operates a fleet of harsh environment mid-water & deep-water
semisubmersible drilling rigs, capable of working worldwide.

This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication at
2025-07-22 11:40 CEST.

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