Odfjell Rig III Ltd – Call notice ISIN NO NO0012921172

26 Nov 2025 10:01 CET

Reference is made to the announcement made by Odfjell Rig III Ltd (the
“Company”) on 21 November 2025. The Company has today officially notified Nordic
Trustee AS of its decision to exercise the call option to redeem all outstanding
bonds under the Company’s outstanding USD 390,000,000 senior secured bond issue
with maturity 31 May 2025 (ISIN NO NO0012921172).

The bonds will be repaid at a price equal to 104.625 per cent of par value plus
accrued and unpaid interest up until the date of redemption, with the call
redemption date scheduled for 11 December 2025.

For further queries, please contact:

James Crothers
Investor Relations Officer
+44 (0) 7495 067 684
jchu@odfjelldrilling.com
London, United Kingdom
26 November 2025
Odfjell Drilling Ltd

More information:
Access the news on Oslo Bors NewsWeb site

660581_Odfjell Rig III Ltd. - Conditional exercise of Call Option.pdf