Dolphin Drilling AS - AGM Information 2025

DOLPHIN DRILLING AS NOTICE OF EXTRAORDINARY GENERAL MEETING

Reference is made to the stock exchange announcement made by Dolphin Drilling

AS ("DDRILL" or the "Company") on 30 May 2025 regarding the private placement

of 29,764,440,000 new shares in the Company at a subscription price of NOK

0.01 per share (the "Subscription Price"), raising gross proceeds of NOK

297,644,400, equal to approx. USD 29 million (the "Private Placement"), and a

potential subsequent share offering of up to 27,803,642,659 new shares at the

Subscription Price.

The Company's board of directors (the "Board") hereby calls for an

extraordinary general meeting to be held on 17 June 2025 at 11:00 CEST (the

"EGM") in order to approve (i) a share capital decrease by reduction of the

nominal value of the Company's shares, (ii) issuance of new shares in the

Private Placement, (iii) granting an authorisation to the Board to issue new

shares as compensation to the pre-committing investors in the Private

Placement, and (vi) issuance of new shares in connection with the proposed

Subsequent Offering. The EGM will be held electronically.

The EGM notice, including the Board's proposed resolutions, the notice of

attendance and proxy forms, are attached to this notice and will be made

available on the Company's website

https://www.dolphindrilling.com/investor-relations.

Shareholders are encouraged to attend the EGM by casting their votes in

advance or granting a proxy to the chair of the Board within 13 2025 at 16:00

CEST. Further details are found in the attached notice.

For further information, please contact:

Ingolf Gillesdal, CFO

Mob: +47 920 45 320

About Dolphin Drilling AS:

Dolphin Drilling AS is an Oslo listed, Aberdeen head-quartered, company which

owns and operates a fleet of harsh environment mid-water & deep-water

semisubmersible drilling rigs, capable of working worldwide.

This information is subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication at

2025-06-03 16:34 CEST.

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