Deep Value Driller AS

Pre-Annual General Meeting Information • Mar 11, 2025

Deep Value Driller AS – Notice of extraordinary general meeting

Deep Value Driller AS – Notice of extraordinary general meeting

Oslo, 11 March 2025: Reference is made to the stock exchange announcement made by Deep Value Driller AS ("DVD" or the "Company") on 7 March 2025 regarding the entry into of an option agreement with Saipem (the "Charterer"), where the Charterer has been granted an option until 14 April 2025 (the "Option") to enter into an amended and restated bareboat charter (the "Amended Bareboat Charter") for the DVD group's 7th generation mobile offshore drilling vessel "Deep Value Driller" (the "Drillship"). Upon, and subject to, exercise of the Option, the Charterer has further been granted an option to purchase the Drillship for a purchase price of USD 300 million, plus payment of any remaining hire under the Amended Bareboat Charter (the "Potential Transaction").

The board of directors hereby calls for an extraordinary general meeting of the Company to be held on Tuesday, 25 March 2025 at 13:00 CET (the "EGM"). The EGM will be held as a digital meeting only, accessible via Microsoft Teams.

As set out in the attached notice, the board of directors proposes that the EGM resolves to amend the Company's objective as set out in article 2 of the Company's articles of association, to facilitate completion of the Potential Transaction.

The notice of the EGM, including the board og directors' proposed resolutions and the notice of attendance, advance votes and proxy form, is attached to this announcement and available on the Company's website, www.deepvaluedriller.no. Shareholders are encouraged to attend the EGM by casting their votes in advance or by granting a proxy to the chair of the board of directors with voting instructions. See further details in the attached notice.

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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

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.

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.