NorAm Drilling AS – Monthly rig update and key information relating to the cash distribution for January 2026

12 Jan 2026 17:06 CET

Oslo, Norway, January 12, 2026

Commercial update:

In December 2025, the Company had 10 out of 11 rigs employed and rig utilization
was 87%.

As of January 12, 2026, approximately 89% of available rig days in January are
contracted. We expect one of our current contracted rigs to be released in late
January. As of the end of January, we expect to have 9 of our 11 rigs under
contract and working. The contracted backlog beyond January is approximately USD
16.6 million.

Cash distribution:

The Board of Directors today approved a monthly cash distribution of
approximately USD 1.3 million based on free cash flow for December 2025. The
distribution will be made from the Company's Contributed Surplus account which
consists of previously paid in share premium transferred from the Company's
Share Premium account.

Key information:

Distribution amount: USD 0.03 per share

Declared currency: USD. Payment to shares registered with Euronext VPS will be
distributed in NOK

Date of approval: January 12, 2026

Last day including right: January 15, 2026

Ex-date: January 16, 2026

Record date: January 19, 2026

Payment date: On or about January 26, 2026

For further queries, please contact:
Marius Furuly, Director of IR and Strategy
Tel: +47 90626191


About NorAm Drilling
NorAm Drilling owns and operates a portfolio of eleven advanced drilling rigs
upgraded to maximize drilling efficiency in the Permian Basin in Texas, which is
the largest oil producing region in North America. NorAm Drilling is debt free
and has industry leading operating margins. The Company has a full pay-out
dividend strategy, targeting frequent cash distributions in a profitable market.


www.noramdrilling.com

More information:
Access the news on Oslo Bors NewsWeb site

663489_NorAm Drilling AS - Monthly Rig Update (January 2026).pdf