Dolphin Drilling AS New share capital registered

10 Dec 2025 14:24 CET

Oslo, 10 December 2025: Reference is made to the stock exchange announcements
made by Dolphin Drilling AS (the "Company") on 11 November 2025 regarding the
private placement of new shares in the Company, raising gross proceeds of NOK
151.5 million, equivalent to approximately USD 15 million (the "Private
Placement"), and on 8 December 2025 regarding the board of directors'
resolution to increase the Company's share capital by issuance of
1,365,156,818 new shares at NOK 0.011 per share to the underwriters in the
Private Placement, payable by the Company as compensation for their
underwriting commitments (the "Commission Shares").

The share capital increase pertaining to the issuance of the Commission Shares
has been registered with the Norwegian Register of Business Enterprises:

Share capital: NOK 477,724,074.92
Total number of shares: 47,772,407,492
Par value of each share: NOK 0.01

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 Section
5-12 of the Norwegian Securities Trading Act and the Euronext Growth Rule Book
Part II.

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