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Odfjell Drilling Ltd : Key information relating to the repair issue to be carried out by Odfjell Drilling Ltd. (including ex-date)

20.04.2018

Date on which the terms and conditions of the repair issue were announced: 19 April 2018

Last day including right: 19 April 2018

Ex-date: 20 April 2018

Record date: 23 April 2018

Date of approval by the special general meeting: On or about 16 May 2018

Maximum number of new shares: 4 327 778

Subscription price: NOK 36 per share

Other information:

The repair issue will be conditional upon (i) the resolution by the special general meeting of the Company to issue the new common shares to be issued in connection with the repair issue and (ii) the Norwegian Financial Supervisory Authority approving a combined prospectus for the listing of the new common shares issued in the private placement and the repair issue (the "Prospectus"). The repair issue will be based on the Prospectus. The subscription period for the repair issue will commence shortly after publication of the Prospectus. The subscription rights will not be listed or tradable. Over-subscription will be permitted, but subscription without subscription rights will not be permitted.

This information is published in accordance with the requirements of the Continuing Obligations.