Company Disclosures

ODL – One more well to Deepsea Atlantic

Published 22.03.2021

Further to our press release on 17 March 2021 regarding more work for Deepsea
Atlantic, please be advised that Equinor has exercised one additional well to
the rig. 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 the same as for the recently announced Johan Sverdrup Phase 2
contract award.

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

Aberdeen, United Kingdom
22 March 2021
Odfjell Drilling Ltd.

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