DOLPHIN DRILLING CONTRACT UPDATES

11 May 2026 18:27 CEST

OSLO, 11 May 2026:

Dolphin Drilling Secures UK Contract with Harbour Energy

Dolphin Drilling has secured a new contract with Harbour Energy ("Harbour")
for the use of its semi submersible drilling rig Paul B. Loyd Jr. in the UK
sector of the North Sea. The new agreement will commence upon expiry of the
firm term of the current arrangement for the Paul B. Loyd Jr. and follows the
Letter of Intent announced on 7 April 2026. The additional firm term runs
through to 30 August 2030 and represents approximately USD 150 million in firm
contract backlog. In direct continuation of the unit's current engagement, the
new contract materially increases Dolphin Drilling's backlog and provides
long term earnings visibility through 2030.

Under the terms agreed, Harbour also holds options to extend the engagement
for up to a further five years. Michael Boyd, Chief Executive Officer of
Dolphin Drilling, said: "This contract award is a testament to the partnership
formed between Dolphin Drilling and Harbour Energy. It provides both parties
with stability and the platform to continue to deliver safe and efficient
operations."

Dolphin Drilling: Blackford contract

The Company announced today that the deepwater capable semisubmersible rig,
Blackford Dolphin will continue its drilling contract for Oil India Limited.

Further to the company's press release of 19th November 2025, the rig is
expected to remain on contract until the end of July 2026 to complete
drilling, testing, and abandonment work at locations East of India. Blackford
Dolphin continues on the same terms and scope of work as the existing
contract. Dolphin Drilling is pleased to continue its partnership with Oil
India Limited and remains committed to delivering safe and efficient
operations.

Michael Boyd, Chief Executive Officer of Dolphin Drilling, said: "Dolphin
Drilling now has USD 362 million in firm contract backlog with a further 849
million in LOI (as advised 14th April 2026) and options, materially improving
future revenue and earnings visibility since the turn of the year. With the
strong support of our shareholders, we continue to progress towards our
objective of re-establishing Dolphin Drilling as a stable, efficient, and
investable platform for growth".

For further information, please contact: Ingolf Gillesdal, CFO, tel: +47 920
45 320

Dolphin Drilling | www.dolphindrilling.com (http://www.dolphindrilling.com/)

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to the Norwegian Securities Trading Act section 5-12. This stock exchange
release was published by Ingolf Gillesdal on the time and date provided.

About Dolphin Drilling AS:

Dolphin Drilling AS is an Oslo listed, Aberdeen head-quartered, company which
owns and operates a fleet of three harsh environment mid-water & deep-water
semisubmersible drilling rigs, capable of working worldwide.

More information:
Access the news on Oslo Bors NewsWeb site