Odfjell Drilling Ltd. Signing of Contract for Deepsea Aberdeen

19 Dec 2025 07:10 CET

Odfjell Drilling Ltd. is pleased to announce that, further to the announcement
on 16 November 2025, the contract provided for in the Letter of Intent for use
of the Deepsea Aberdeen has now been signed with Equinor for use of the unit to
drill an unspecified scope in an interim period on the Norwegian Continental
Shelf, before moving to the Fram Sør project, offshore Norway.

As announced, the work will begin in Q4 2026, in direct continuation of Deepsea
Aberdeen’s current contract with Equinor and is estimated to continue to Q1
2029. The contract adds approximately USD 373 million of firm order backlog,
excluding integrated services, performance bonuses and fuel incentives as well
as yearly escalation increases.

Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling AS commented:
“We are very pleased to have secured another contract with Equinor, with whom we
now have three rigs working. In addition, we are excited to be involved with the
drilling of Fram Sør, a leading development project in Norway.”

For further queries, please contact:
James Crothers, Investor Relations Officer
+44 (0) 7495 067 684
jchu@odfjelldrilling.com
London, United Kingdom
19 December 2025
Odfjell Drilling Ltd

This information is published in accordance with the requirements of the Oslo
Børs Rule Book II section 4.2.4 (1) no. 3 and is subject to the disclosure
requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

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