Seadrill Limited

Transaction in Own Shares • Aug 12, 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, Aug 12, 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 5, 2024, through August 9, 2024, the Company purchased a total of 515,300 shares at an average price of $45.43 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)

05 AUG 2024 OSE 1,350 47.64 64,314

05 AUG 2024 NYSE 101,000 47.04 4,751,130

06 AUG 2024 OSE 1,400 46.68 65,357

06 AUG 2024 NYSE 126,000 45.40 5,720,765

07 AUG 2024 OSE 1,450 46.25 67,061

07 AUG 2024 NYSE 66,000 45.00 2,969,993

08 AUG 2024 OSE 3,000 44.25 132,744

08 AUG 2024 NYSE 66,000 45.08 2,975,511

09 AUG 2024 OSE 3,100 45.12 139,890

09 AUG 2024 NYSE 146,000 44.68 6,524,433

Period total OSE 10,300 45.57 469,366

NYSE 505,000 45.43 22,941,834

Total 515,300 45.43 23,411,200

Previously disclosed totals (accumulated) OSE 18,015 52.30 942,262

NYSE 1,232,685 52.40 64,592,609

Total 1,250,700 52.40 65,534,871

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

NYSE 1,737,685 50.37 87,534,443

Total 1,766,000 50.37 88,946,071

The issuer's holding of repurchased shares: 1,766,000

Following the completion of the above transactions, the Company has repurchased a total of 1,766,000 of its own shares, corresponding to 2.57% 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