Deep Value Driller AS

M&A Activity • Dec 29, 2025

Deep Value Driller AS – extension of Bareboat Charter and Drillship Purchase Option agreement with Saipem

Deep Value Driller AS – extension of Bareboat Charter and Drillship Purchase Option agreement with Saipem

Oslo, 29 December 2025: Deep Value Driller AS (the "Company" and together with its subsidiaries, the "Group") is pleased to announce the entry into an extension of the Amended Bareboat Charter with Saipem (the "Charterer") where the Company and the Charterer has agreed to a firm extension of 31 days until 31 July 2026 (the “Initial Period”) for the Group's 7th generation mobile offshore drilling vessel "Deep Value Driller" (the "Drillship").

Furthermore, the Company and the Charterer has also agreed to an extension on the Purchase Option to purchase the Drillship (the “Potential Transaction”) until 16 February 2026. The purchase price in the Potential Transaction will be USD 300 million, plus payment of the remaining hire for the Initial Period (if any).

In addition, the Charterer has an option to extend the Amended Bareboat Charter with an additional 365 days (the "Second Period") from 1 August 2026 to 31 July 2027, which must be declared within 16 February 2026. If the Second Period is extended, the Charterer’s right to purchase the Drillship, at the same terms, is also extended until 31 December 2026.

For more information, please see the Company's announcement of 7 March 2025 and 14 April 2025.

Contacts:

Svend Anton Maier, CEO

+47 41 42 71 29

sam@deepvaluedriller.no

Einar J. Greve, Chairman of the Board

+41 79 644 77 66

ejg@cipriano.no

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

About Deep Value Driller Deep Value Driller AS is a drillship-owning company which owns the high specification UDW 7th generation drillship "Deep Value Driller", built in 2014. As part of its strategy, the company has an ambition to create and maximise value for its customers and investors, while at the same time ensuring safe and sustainable operation of its drillship. For further information, visit www.deepvaluedriller.no.

Forward looking statements All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. Actual results may differ materially from those expected or projected in the forward-looking statements. The Company undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.