Company Disclosures

ODL – Options Exercised for Deepsea Atlantic on Johan Sverdrup Phase 2

Published 28.11.2022

Odfjell Drilling Ltd, (“Odfjell Drilling”) is pleased to note that Equinor
Energy AS (“Equinor”) has exercised its priced options for the Deepsea Atlantic
to drill five additional wells on the Johan Sverdrup Phase 2 development under
the contract entered into by the parties on 23.11.2020.

The five wells are anticipated to take approximately 190 days with an
approximate value of USD 64M and extends the Deepsea Atlantic’s firm backlog
into Q1 2024.

For further queries, please contact:

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

London, United Kingdom
28 November 2022
Odfjell Drilling Ltd

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