Archer

Archer Limited: Premium Oilfield Services acquisition closed

Hamilton, Bermuda (October 2, 2025)

Reference is made to the notification dated September 24, 2025, wherein Archer

announced its agreement to acquire Premium Oilfield Services, LLC ("Premium").

We are pleased to announce that the transaction has now closed, in accordance

with previously communicated terms.

About Premium

Premium is a well-established US well service provider within fishing and P&A

related services. With a first-class workforce and excellent service reputation

with major operators, Premium's large and well-maintained equipment portfolio

will provide meaningful synergies with Archer's business. Archer and Premium's

complimentary client bases represent more than 80% of the estimated $15 billion

spend in deepwater P&A and decommissioning in the Gulf of America up to 2040.

For additional information please contact:

Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email:

Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78

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