Shelf Drilling, Ltd. – Notice of Extraordinary General Meeting

05 Aug 2025 07:24 CEST

SHELF DRILLING, LTD. – NOTICE OF EXTRAORDINARY GENERAL MEETING

Dubai, August 5, 2025 – Reference is made to the stock exchange announcement as
of August 5, 2025 regarding a plan of merger entered into between Shelf
Drilling, Ltd. (the "Company"), ADES International Holding, Ltd. and ADES
International Cayman whereby all of the Company's shares will be cancelled for a
consideration in cash of NOK 14.00 per share (the “Proposed Merger”).

The Company hereby announces that the Company will hold an extraordinary general
meeting on September 16, 2025, to approve the Proposed Merger.

The notice of the extraordinary general meeting (which includes the plan of
merger), the board's recommendation and Form of Proxy will be distributed to
shareholders by normal distribution methods and are attached to this
announcement, and together with further materials (including the merger
agreement) available on https://www.shelfdrilling.com/investor-relations/.

Proxy votes and attendance slips must be received by DNB Bank ASA, Registrars
Dept., P.O. Box 1600 Sentrum, 0021 Oslo, Norway, not later than 10:00 am CEST on
September 12, 2025.


About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across the Middle East, Southeast Asia, India,
West Africa, the Mediterranean and the 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.

More information:
Access the news on Oslo Bors NewsWeb site

652110_2B. EGM - Company Board Recommendation.pdf
652110_2A. Notice with Plan of Merger.pdf