Company Disclosures

ODL – management services on West Linus

Published 21.02.2022

Reference is made to the stock exchange notice made by SFL Corporation Ltd
(“SFL”) today. Odfjell Drilling is pleased to inform that we have agreed with
SFL to provide management services for the harsh environment jack-up drilling
rig West Linus. The agreement is based on terms and conditions customary for
this type of agreements.

The rig is employed on a long-term drilling contract with ConocoPhillips
Scandinavia AS (“ConocoPhillips”) in the North Sea until the fourth quarter of
2028. Odfjell Drilling will take over as manager of the rig as soon as
regulatory approvals such as change of duty holder under the Acknowledgement of
Compliance (“AOC”) is approved by Norwegian authorities. Odfjell Drilling
expects this to be in place no later than 1 October 2022.

Simen Lieungh, CEO of Odfjell Drilling AS said in a comment: “Today we are
engaged in platform drilling operations for ConocoPhillips in the Greater
Ekofisk Area. The addition of the West Linus management contract will strengthen
our long-term co-operation and we look forward to providing safe and efficient
operations to ConocoPhillips.”

For further queries, please contact:

Gillian Basson, Corporate Secretary
+44 (0)7796 547889

Aberdeen, United Kingdom
21 February 2022
Odfjell Drilling Ltd

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