Company Disclosures

ODL – One additional well to Deepsea Atlantic

Published 10.05.2021

Please be advised that Equinor has exercised one additional well to the Deepsea
Atlantic contract. The well has been exercised under the Continued Optionality
mechanism in the contract entered into between the parties in May 2018, as part
of the overall Master Frame Agreement.

The work shall commence after the completion of the current scope estimated to
be in Q3 2021. The commercial terms are materially similar to the Deepsea
Atlantic’s Johan Sverdrup Phase 2 contract which is expected to commence early
Q1 2022.

For further queries, please contact:
Gillian Basson, Corporate Secretary
+44 (0)7796 547889

Aberdeen, United Kingdom
10 May 2021
Odfjell Drilling Ltd.

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