DOLPHIN DRILLING AS EXTRAORDINARY GENERAL MEETING HELD

01 Dec 2025 11:42 CET

Oslo, 1 December 2025: Reference is made to the stock exchange announcement
made by Dolphin Drilling AS (the "Company") on 17 November 2025 regarding the
notice of an extraordinary general meeting in the Company to, among other
things, approve the resolutions in connection with the Private Placement (as
defined therein).

The extraordinary general meeting was held today, 1 December 2025, at 11:00
CET. As set out in the attached minutes, all matters on the agenda were
approved as proposed by the board of directors, including: (i) the issuance of
new shares in the Private Placement; (ii) granting an authorisation to the
board to issue new shares as compensation to the underwriters in the Private
Placement; (iii) an authorisation for the board to issue shares to facilitate
a reverse share split; (iv) a reverse share split in the ratio of 300:1; and
(v) election of members to the board.

For more information about the Private Placement, please refer to the
Company's stock exchange announcements of 11 November 2025.

For further information, please contact: Ingolf Gillesdal, CFO, tel: +47 920
45 320

Dolphin Drilling | www.dolphindrilling.com (http://www.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 the disclosure requirements pursuant to the
Norwegian Securities Trading Act section 5-12 and the Euronext Growth Rule
Book part II.

More information:
Access the news on Oslo Bors NewsWeb site

660960_Dolphin Drilling AS Minutes Of Extraordinary General Meeting 1 December 2025.pdf