NorAm Drilling AS

Earnings Release • Dec 9, 2025

NorAm Drilling AS – Monthly rig update and key information relating to the cash distribution for December 2025

NorAm Drilling AS – Monthly rig update and key information relating to the cash distribution for December 2025

Oslo, Norway, December 9, 2025

Commercial update:

In November 2025, the Company had 9 out of 11 rigs employed and rig utilization was 79%.

As of December 9, 2025, approximately 87% of available rig days in December are contracted. One of our two stacked rigs is expected to commence operations mid December. The remaining stacked rig is being actively marketed. The contracted backlog beyond December is approximately USD 16.4 million.

Cash distribution:

The Board of Directors today approved a monthly cash distribution of approximately USD 1.3 million based on free cash flow for November 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 0.03 per share

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

Date of approval: December 9, 2025

Last day including right: December 15, 2025

Ex-date: December 16, 2025

Record date: December 17, 2025

Payment date: On or about December 23, 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