Dolphin Drilling AS Resolution to increase share capital

12 Jan 2026 13:10 CET

Oslo, 12 January 2026: Reference is made to the stock exchange announcement
made by Dolphin Drilling AS (the "Company") on 1 December 2025 regarding the
Company's extraordinary general meeting resolving, among other things, to
approve a reverse share split in the ratio of 300:1, and to authorise the
board of directors to increase the share capital to facilitate the reverse
share split.

The Company's board of directors has resolved to increase the share capital by
issue of 208 new shares to facilitate the reverse share split, as authorised
by the extraordinary general meeting on 1 December 2025. Following
registration of both the share capital increase and the reverse share split,
the Company's registered share capital will be NOK 477,724,077.00, divided
into 159,241,359 shares, each with a nominal value of NOK 3.00.

For further information, please contact:

Ingolf Gillesdal, CFO
Tel: +47 920 45 320

Dolphin Drilling | http://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.

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