Dolphin Drilling AS - Capital/Financing Update 2023

Dolphin Drilling - new loan facility signed

(Oslo, 22 December 2023) Dolphin Drilling AS (Dolphin Drilling, OSE: DDRIL)

announces signed loan facility with MAP Ltd for USD 65 million senior secured

loan facility.

Reference is made to the Dolphin Drilling Q3 financial report from November 28

2023, where we informed of a signed term sheet for a loan facility. We are

pleased to inform that the agreement has been signed by all parties. The loan

expires in September 2027, with no debt amortization for the first 12 months,

and monthly payments thereafter until loan expiry date.

ENDS

For further information, please contact:

Ingolf Gillesdal, email: [email protected], tel: +47 920

45?320

Dolphin Drilling |

www.dolphindrilling.com (https://eur02.safelinks.protection.outlook.com/?url=http

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Dolphin Drilling is a leading harsh environment drilling contractor for the

offshore oil and gas industry. Dolphin Drilling owns a fleet of three high

-technical standard 4th and 5th generation enhanced Aker H3 units, Borgland

Dolphin, Blackford Dolphin, and Bideford Dolphin, operated by an experienced

team with a strong operational track record. The company has offshore and

onshore offices and operations in Norway, Scotland, Brazil, and Nigeria.

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