Awilco Drilling PLC

Earnings Release • Feb 10, 2021

Awilco Drilling PLC: Awilco Drilling Reports Q4 2020 Results

Awilco Drilling PLC: Awilco Drilling Reports Q4 2020 Results

Awilco Drilling PLC reports contract revenue of USD 8.6 million (USD 10.6

million Q3), Adjusted EBITDA of USD 2.6 million loss (USD 1.7 million positive

in Q3) and a net loss of USD 141.1 million, (USD 1.0 million loss in Q3). Net

loss includes de-recognition of assets totaling USD 110.8 million and

impairments of USD 25 million.

Revenue efficiency was 54.1% during the quarter (100% in Q3).

Operational uptime was 81.8% during the quarter (100% in Q3).

Contract backlog at the end of Q4 was approximately USD 15.0 million (USD 15.2

million Q3).

Please see attached for the Q4 2020 report.

A digital presentation will be held today, on 10 February 2021, at 13:00 UK time

(14:00pm CET / 08:00 EST). The presentation will be available for download on

the Investor Relations section (go to "Press Releases") at

www.awilcodrilling.com (http://www.awilcodrilling.com) prior to the meeting.

There will be a Q&A session after the presentation.

To join the digital meeting, please click this link

(https://teams.microsoft.com/l/meetup-

join/19%3ameeting_ZDU1M2ZkMzYtNjQwNi00NTU1LTg5OTctM2IzMjUxMmY3Y2Iy%40thread.v2/0

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3e57ef82979e%22%2c%22IsBroadcastMeeting%22%3atrue%7d) or copy and paste the

following address into your browser: https://teams.microsoft.com/l/meetup-

join/19%3ameeting_ZDU1M2ZkMzYtNjQwNi00NTU1LTg5OTctM2IzMjUxMmY3Y2Iy%40thread.v2/0?context=%7b%22Tid%22%3a%22c6903860-

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(https://eur01.safelinks.protection.outlook.com/ap/t-

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i94MfiFOPGlJbJEeP0sg%2FcBco2MmIU70%3D&reserved=0)

A replay of the presentation will be made available on the Company website after

the event.

Aberdeen, 10 February 2021

For further information please contact:

Eric Jacobs, Interim CEO

Phone: +44 1224 737900

Cathrine Haavind, IR Manager

Phone: +47 93 42 84 64

Email: ch@awilcodrilling.com (mailto:ch@awilcodrilling.com)

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.