Seadrill Limited

Transaction in Own Shares • Aug 26, 2024

Seadrill Announces Transactions Made Under the Company’s Share Repurchase Program

Seadrill Announces Transactions Made Under the Company’s Share Repurchase Program

Hamilton, Bermuda, August 26, 2024 - Seadrill Limited (“Seadrill” or the “Company”) (NYSE & OSE: SDRL) initiated a share repurchase program June 26, 2024 to repurchase up to $200 million of the Company’s common shares in open market transactions on the OSE and NYSE through September 25, 2024 until no later than September 30, 2025 pursuant to an agreement with DNB Markets (“DNB”).

For the period from and including August 19, 2024, through August 23, 2024, the Company purchased a total of 436,974 shares at an average price of $43.33 per share. The transactions effected through the agreement with DNB comprise all the transactions effected by or on behalf of the Company during the period.

Transaction overview

Date Trading Venue Volume Weighted Average Share Price (USD) Total Daily Transaction Value (USD)

19 AUG 2024 OSE - - -

19 AUG 2024 NYSE 87,338 44.84 3,915,930

20 AUG 2024 OSE - - -

20 AUG 2024 NYSE 87,500 43.28 3,787,639

21 AUG 2024 OSE - - -

21 AUG 2024 NYSE 87,500 42.81 3,746,269

22 AUG 2024 OSE - - -

22 AUG 2024 NYSE 87,136 42.47 3,700,570

23 AUG 2024 OSE - - -

23 AUG 2024 NYSE 87,500 43.23 3,782,870

Period total OSE - - -

NYSE 436,974 43.33 18,933,278

Total 436,974 43.33 18,933,278

Previously disclosed totals (accumulated) OSE 28,315 49.85 1,411,628

NYSE 2,135,185 49.36 105,389,777

Total 2,163,500 49.37 106,801,405

Program total OSE 28,315 49.85 1,411,628

NYSE 2,572,159 48.33 124,323,055

Total 2,600,474 48.35 125,734,683

The issuer's holding of repurchased shares: 2,600,474

Following the completion of the above transactions, the Company has repurchased a total of 2,600,474 of its own shares, corresponding to 3.78% of the Company’s total issued share count.

Appendix:

An overview of all transactions made under the Company’s repurchase program and its agreement with DNB that have been carried out during the above-mentioned period is attached to this report and available at www.newsweb.no.

About Seadrill

Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com.

Contact

Lydia Brantley Mabry

Director of Investor Relations

ir@seadrill.com