Shelf Drilling, Ltd. – Extraordinary general meeting held - approval of the cash merger with ADES

06 Oct 2025 19:07 CEST

Shelf Drilling, Ltd. – Extraordinary general meeting held - approval of the cash
merger with ADES

Dubai, October 6, 2025 – Reference is made to the stock exchange announcement as
of August 5, 2025 regarding the merger agreement entered into between Shelf
Drilling, Ltd. (“Shelf Drilling” or the "Company"), ADES International Holding,
Ltd. and ADES International Cayman (the "Merger") as well as the subsequent
announcements on September 16, 2025 regarding the revised terms of the Merger.

An extraordinary general meeting in the Company was held today at 10:00 hours
(Cayman time) to consider the Merger.
All proposals on the agenda were approved with the requisite majority (99.6% of
the votes cast in favor of the Merger).

Minutes of the EGM are attached hereto and made available on the Company's
investor website https://www.shelfdrilling.com/investor-relations/.

For further information on the Merger and the complete terms and conditions for
the Merger, please see the announcements of August 5, 2025 and September 16,
2025, as well as further materials (including the merger agreement and the
amendment agreement) available on
https://www.shelfdrilling.com/investor-relations/. The completion of the Merger
remains conditional upon fulfilment of the customary closing conditions
described therein.

Subject to fulfilment of these conditions, completion of the Merger is currently
expected before the end of 2025.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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.

More information:
Access the news on Oslo Bors NewsWeb site

656727_Shelf Drilling Ltd. - EGM Minutes (6 Oct 2025).pdf