Dolphin Drilling AS - Proxy Solicitation & Information Statement 2026

DOLPHIN DRILLING AS - NOTICE OF EXTRAORDINARY GENERAL MEETING

Oslo, 16 April 2026: Reference is made to the stock exchange announcement made

by Dolphin Drilling AS (the "Company") on 15 April 2026 regarding the

conditional private placement of 236,000,000 new shares in the Company at a

subscription price of NOK 2.50 per share, raising gross proceeds of NOK 590

million, equivalent to approximately USD 62.5 million (the "Private

Placement").

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

extraordinary general meeting to be held on 30 April 2026 at 08:00 CEST (the

"EGM") in order to, inter alia, 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 commission shares to the pre-committing investors in the Private

Placement, and (iv) approval of a share option programme that includes the

members of the board of directors.

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.

The EGM will be held electronically. Shareholders are encouraged to attend the

EGM by casting their votes in advance or granting a proxy to the chair of the

Board by 28 April at 23:59 CEST. Further details are found in the attached

notice.

The Company sends messages to shareholders electronically through the VPS. To

receive information electronically, please contact your VPS account manager,

visit https://investor.vps.no/garm/auth/login or your online bank.

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 the disclosure requirements pursuant to Section

5-12 of the Norwegian Securities Trading Act.

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