NorAm Drilling AS

Notice of Dividend Amount • Jul 15, 2025

NorAm Drilling AS (NORAM) – Monthly rig update and key information relating to the cash distribution for July 2025

Oslo, Norway, July 15, 2025

Commercial update:

In June 2025, the Company had 9 out of 11 rigs employed and rig utilization was 82%.

As of July 15, 2025, approximately 79% of available rig days in July are contracted. We currently have two rigs stacked and both are being marketed. The contracted backlog(1) beyond July is approximately USD 16.9 million.

Cash distribution:

The Board of Directors today approved a monthly cash distribution of approximately USD 1.5 million based on free cash flow for June 2025. The distribution will be made from the Company's Contributed Surplus account which consists of previously paid in share premium transferred from the Company's Share Premium account.

Key information:

Distribution amount: USD 0.035 per share

Declared currency: USD. Payment to shares registered with Euronext VPS will be distributed in NOK(2)

Date of approval: July 15, 2025

Last day including right: July 21, 2025

Ex-date: July 22, 2025

Record date: July 23, 2025

Payment date: On or about July 30, 2025

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

⁽¹⁾ The contracted backlog only includes the committed part of 'pad to pad' agreements, where the contract rate is agreed before commencing drilling on a new pad, typically with 2-3 month intervals.

⁽²⁾ The applicable USDNOK FX rate will be announced in the Company's ex dividend release before market open on July 22.