Company Disclosures

ODL – Contract Signed for Hercules

Published 18.11.2022

Odfjell Drilling Ltd, (“Odfjell Drilling”), is pleased to note the signing of a
contract between ExxonMobil Canada Ltd (“ExxonMobil”) and SFL Corporation Ltd
(“SFL”) for the Odfjell Drilling managed 6th generation semi-submersible
Hercules (the “Contract”).

The Contract is expected to commence in Q2 2023 and has a firm duration of
approximately 135 days, with an extension option for approximately 60 days.

Odfjell Drilling announced in May 2022 that it had agreed with SFL to provide
marketing and management services for the Hercules. Today’s Contract is the
first to be signed since entering the agreement with SFL. Hercules is expected
to return to Norway in December 2022 following which Odfjell Drilling will
takeover management of the rig on SFL’s behalf. The rig will undergo a scheduled
special periodic survey in Norway before mobilisation to Canada.

Kjetil Gjersdal, Chief Executive Officer Odfjell Drilling AS commented:

“Since signing the management agreement with SFL for Hercules, we have worked
hard to facilitate the rig being deployed on contract and are very pleased by
today’s announcement.

Similarly, we are delighted to be working with ExxonMobil on this new contract
and to enter the key harsh environment market of Canada for the first time. The
contract is an opportunity for Odfjell Drilling to further demonstrate its
industry leading harsh environment capabilities.”

For further queries, please contact:

James Crothers, Investor Relations Officer
+44(0)7393 766 446

Aberdeen, United Kingdom
18 November 2022
Odfjell Drilling Ltd

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