Archer has entered an agreement to sell the workover business in the south of Argentina

30 Jan 2026 11:12 CET

Hamilton, Bermuda (January 30, 2026)

Archer announces that it has entered into an agreement with a local buyer
regarding potential sale of the workover business in the south of Argentina. The
agreement outlines the relevant terms of a potential transaction and required
closing conditions.

The potential transaction relates to our workover business in the south of
Argentina, in the Provinces of Chubut and Santa Cruz, including 12 workover
rigs, 12 pulling units and approximately 750 employees.

We expect the potential transaction to close within a short timeline but there
is no certainty that the parties can complete the transaction.

Following the potential divestment, Archer's Land Drilling business will
primarily operate drilling and workover services in the unconventional Vaca
Muerta field, where we were awarded a five-year contract with YPF with an
estimated value of $600 million, as announced on December 1, 2025.

For further information, please contact:

Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email:
espen.joranger@archerwell.com

Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78
748, Email: Joachim.houeland@archerwell.com

This information is subject to the disclosure requirements according to Section
5-12 of the Norwegian Securities Trading Act.

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