Dolphin Drilling: Signs Multi-Year Contract for Borgland Dolphin

02 Jun 2026 16:14 CEST

OSLO, Norway, 2 June 2026 - Dolphin Drilling AS (OSE: DDRIL) ("Dolphin") today
announced the contract fixture of its semi-submersible drilling rig BORGLAND
DOLPHIN with an undisclosed operator in the UK, which represents approximately
USD 239 million in firm contract backlog, as referenced to in our announcement
dated 14 April 2026 regarding a Letter of Intent.

The contract is scheduled to commence in the second half of 2027, in direct
continuation following release of the Borgland Dolphin from its existing
contract. The firm term runs through to the expiry of the rig's current
Special Period Survey ("SPS") in October 2031 (inclusive of mobilisation and
demobilisation). The contract includes options for up to a further 5-years,
with a contribution to the SPS.

Chief Executive Officer, Michael Boyd said: "This contract award represents a
significant milestone for Dolphin Drilling, materially strengthening our firm
backlog to approximately USD 602 million. Importantly, it delivers long-term
earnings visibility across two rigs in the UK, both rigs firmly secured on
contract for the next five years, as we guided on and in line with the
strategic plan for Dolphin.

With this enhanced backlog, we are establishing a more robust and
cost-efficient operating platform, positioning the Company to generate
sustainable cash flows and capture further opportunities in an increasingly
tight offshore drilling market."

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

Dolphin Drilling | 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 disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-06-02 16:14 CEST.

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