NorAm Drilling AS

Share Issue/Capital Change • Aug 30, 2024

NorAm Drilling AS – New share capital registered

NorAm Drilling AS – New share capital registered

Oslo, Norway, August 30, 2024

Reference is made to the announcement on 24 July 2024 by NorAm Drilling regarding the issuance of 114,103 new shares following share option exercises by a member of management on the same date.

The resolution made by the Board of Directors to increase the share capital by issuance of new shares was today registered with the Norwegian Register of Business Enterprises. The new shares were issued pursuant to an authorisation to issue new shares granted to the Board of Directors on the Company's annual general meeting on 11 June 2024.

Following this, NorAm Drilling’s new share capital is NOK 86,510,192 consisting of 43,255,096 shares, each with a par value of NOK 2.00.

For further queries, please contact:

Marius Furuly, Director of IR and Strategy

Tel: +47 90626191

About NorAm Drilling

NorAm Drilling owns and operates a portfolio of eleven advanced drilling rigs upgraded to maximize drilling efficiency in the Permian Basin in Texas, which is the largest oil producing region in North America. NorAm Drilling is debt free and has industry leading operating margins. The Company has a full pay-out dividend strategy, targeting frequent cash distributions in a profitable market.

www.noramdrilling.com