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Odfjell Drilling Ltd : Primary insider notification

19.11.2018

Reference is made to the stock exchange announcements by Odfjell Drilling Ltd ("Odfjell Drilling" or the "Company") on 19 April 2018 regarding the private placement of common shares in the Company and the grant of 960,000 options in the Company to the CEO, Simen Lieungh, with each option giving a right to subscribe for one common share at a subscription price of NOK 36 per share.

The Board of Directors have resolved that the terms of the options of Simen Lieungh shall be amended so that the right to subscribe for shares shall be at a subscription price of the share price as of the end of trading at the Oslo Stock Exchange as of 19 November 2018. The other elements in the share option agreement shall remain unchanged.

Simen Lieungh holds 952,381 common shares and 960,000 options in the Company.

For further information, please contact:

IR contact:

Eirik Knudsen, VP Corporate Finance & Investor Relations

e-mail: eikn@odfjelldrilling.com

Mobile: +47 934 59 173

Hamilton, Bermuda

19 November 2018

Odfjell Drilling Ltd.

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