DOLPHIN DRILLING AS - NOTICE OF EXTRAORDINARY GENERAL MEETING

16 Apr 2026 16:46 CEST

Oslo, 16 April 2026: Reference is made to the stock exchange announcement made
by Dolphin Drilling AS (the "Company") on 15 April 2026 regarding the
conditional private placement of 236,000,000 new shares in the Company at a
subscription price of NOK 2.50 per share, raising gross proceeds of NOK 590
million, equivalent to approximately USD 62.5 million (the "Private
Placement").

The Company's board of directors (the "Board") hereby calls for an
extraordinary general meeting to be held on 30 April 2026 at 08:00 CEST (the
"EGM") in order to, inter alia, approve (i) a share capital decrease by
reduction of the nominal value of the Company's shares, (ii) issuance of new
shares in the Private Placement, (iii) granting an authorisation to the Board
to issue commission shares to the pre-committing investors in the Private
Placement, and (iv) approval of a share option programme that includes the
members of the board of directors.

The EGM notice, including the Board's proposed resolutions, the notice of
attendance and proxy forms, are attached to this notice and will be made
available on the Company's website
https://www.dolphindrilling.com/investor-relations.

The EGM will be held electronically. Shareholders are encouraged to attend the
EGM by casting their votes in advance or granting a proxy to the chair of the
Board by 28 April at 23:59 CEST. Further details are found in the attached
notice.

The Company sends messages to shareholders electronically through the VPS. To
receive information electronically, please contact your VPS account manager,
visit https://investor.vps.no/garm/auth/login or your online bank.

For further information, please contact:

Ingolf Gillesdal, CFO

Mob: +47 920 45 320

Mail: Ingolf.gillesdal@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.

More information:
Access the news on Oslo Bors NewsWeb site

670824_Dolphin Drilling AS Notice Of EGM 30 April 2026.pdf