Odfjell Rig III Ltd – Call notice ISIN NO NO0012921172

08 Dec 2025 16:06 CET

Reference is made to the announcement made by Odfjell Rig III Ltd (the
“Company”) on 26 November 2025, where the Company gave notice of exercise of the
call option for the remaining outstanding bonds under the existing bond issue.
The Company has today notified Nordic Trustee AS that the Call Option Notice is
now unconditional and that it will 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 2028 (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
8 December 2025
Odfjell Drilling Ltd

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