NorAm Drilling AS

Remuneration Information • Jul 24, 2024

NorAm Drilling AS – PDMR Notification Following Option Exercise

NorAm Drilling AS – PDMR Notification Following Option Exercise

Oslo, Norway, July 24, 2024

NorAm Drilling AS (“NorAm Drilling” or the “Company”) announces that its Chief Operating Officer Thomas Taylor has on July 24, 2024 exercised 100,000 options to acquire shares in the Company.

Due to prior cash distribution adjustments, the strike price per share option is negative NOK 5.6412. To account for the negative share price, the Company will settle the net difference in additional 14,103 shares based on its market value by applying today’s volume weighted average price of NOK 40.0004 on the Euronext Growth Oslo exchange.

Following this exercise of options, Thomas Taylor owns 133,553 shares in the Company and has 50,000 share options.

Please find further details in the enclosed form.

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