Deep Value Driller AS

Notice of Dividend Amount • Mar 7, 2025

Deep Value Driller AS – Dividend of NOK 0.25 per share declared and operational update

Deep Value Driller AS – Dividend of NOK 0.25 per share declared and operational update

Oslo, 7 March 2025: Reference is made to the stock exchange notice by Deep Value Driller AS ("DVD" or the "Company") on 4 October 2024 regarding the updated dividend distribution policy of DVD.

DIVIDEND DISTRIBUTION OF NOK 0.25 PER SHARE

In accordance with DVD's updated dividend policy as announced on 4 October 2024, DVD's board of directors has resolved to distribute a dividend in the amount of NOK 0.25 per share, in total approximately NOK 21.6 million, for March 2025. The dividend is expected to be paid on or about 19 March 2025 and will be regarded as repayment of paid in capital by the shareholders of DVD. The dividend is resolved based on the board's authorisation as granted by DVD's annual general meeting on 14 May 2024. DVD notes that pursuant to the Company's loan facility, as amended 26 March 2024, the Company is required to retain an amount equal to 12 months of interest payments which is not available for distribution.

OPERATIONAL UPDATE

The group's 7th generation mobile offshore drilling vessel "Deep Value Driller" (Gusto MSC P design) continues to show its excellent operational capabilities. For February 2025, the drillship has operated at 98.8% operational efficiency.

Svend Anton Maier, CEO, further comments: "DVD is very pleased with the continued engagement of Saipem with the company and the option agreement entered into with Saipem. The rig's efficiency, technical specifications and successful operations under the contract with Saipem has led to interest in our rig from the market including Saipem. Saipem has also made major technical investments on the rig, to meet specific Saipem operational needs going forward. A continued engagement with Saipem is in the best interest of the shareholders."

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Contacts:

Svend Anton Maier, CEO

+47 41 42 71 29

sam@deepvaluedriller.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and the Euronext Growth Rule Book part II.

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.