Dolphin Drilling AS - Director's Dealing 2023

Dolphin Drilling AS: Mandatory notification of trade

Oslo, 28 December 2023, Bjørnar Iversen, CEO and primary insider of Dolphin

Drilling AS (the "Company"), has today transferred 390,104 shares from his

private VPS account to Veiholmen Brygge AS, a company controlled 50% by Bjørnar

Iversen, and 50% by his wife and close associate, Hanne S N Herland-Iversen. The

transfer was completed at a price of NOK 8.16 of the Company's shares on

Euronext Growth Oslo today. The total number of shares controlled by Bjørnar

Iversen and Veiholmen Brygge AS, directly or indirectly, remains unchanged at

544,624 shares in Dolphin Drilling AS.

Further, Ingolf Gillesdal, VP Corporate Finance and Investor Relations and

primary insider of the Company, has today transferred from his private VPS

account 22,256 shares to GolfNYC AS, a company wholly owned by Ingolf Gillesdal.

The transfer was completed at a price of NOK 8.16 of the Company's shares on

Euronext Growth Oslo today. The total number of shares controlled by Ingolf

Gillesdal and GolfNYC AS, directly or indirectly, remain unchanged at 88,044

shares in Dolphin Drilling AS.

Furthermore, the following persons have on 28 December 2023 been granted the

following number of share options under the long-term incentive scheme for

executives and members of the management of the Company announced on 22 June

2023 (LTIP):

Jon Oliver Bryce, Chief Strategy Officer and primary insider of the Company, has

been granted 455,943 options

Michael Boyd, VP Marketing of the Company, has been granted 200,000 options

Please see the attached forms for further details of the transactions.

***

This information is subject to the disclosure requirements in articles 19 of the

Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the

Norwegian Securities Trading Act.

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