NorAm Drilling AS

Share Issue/Capital Change • Jul 24, 2024

NorAm Drilling AS - Issue of New Shares Following Option Exercise

NorAm Drilling AS - Issue of New Shares Following Option Exercise

Oslo, Norway, July 24, 2024

Further to the Company's announcement today regarding share option exercise by a PDMR, the Company will issue 114,103 new shares, pursuant to the Board's authorisation to issue new shares as granted on the Company's annual general meeting on 11 June 2024.

Following the issue of the new shares, the Company's share capital will be NOK 86,510,192 consisting of 43,255,096 shares each with a par value of NOK 2.00.

Following the exercise of options, 450,000 options remain outstanding in the Company.

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