Dolphin Drilling AS

Dolphin Drilling AS Key information relating to reverse share split and change of ISIN

Oslo, 12 January 2026: Reference is made to the stock exchange announcement

made by Dolphin Drilling AS (the "Company") on 1 December 2025 regarding the

Company's extraordinary general meeting resolving, among other things, to

approve a reverse share split in the ratio of 300:1, and earlier today

regarding the resolution by the board of directors to issue 208 new shares to

facilitate the reverse share split.

As further set out below, the board of directors has determined the key dates

for implementation of the reverse share split. The reverse share split will

include the 208 new shares which the board of directors resolved to issue

earlier today. In connection with the reverse share split, the Company's

shares will also be transferred to a new ISIN.

Key information relating to the reverse share split and change of ISIN:

* Date on which the corporate action was made public: 17 November 2025

* Reverse share split ratio: 300:1, 300 old shares give one (1) new share

* Last day including the right: 15 January 2026

* Ex. date: 16 January 2026

* Record date: 19 January 2026

* New ISIN: NO 0013711739

* Date of ISIN change: 16 January 2026

* Rounding rules: Rounded downwards*

* Date of approval: 1 December 2025

*Shareholders who do not hold a number for shares dividable by the ratio

(300:1) will, in connection with completion of the share consolidation, have

their shareholding rounded down to the nearest whole share. No fractional

shares will be issued. The general meeting has resolved that fractional shares

shall be added together to whole shares and sold on Euronext Growth Oslo, with

the net proceeds from the sale being donated to a charitable purpose as

determined by the board of directors.

For further information, please contact:

Ingolf Gillesdal, CFO

Tel: +47 920 45 320

Dolphin Drilling | www.dolphindrilling.com (http://www.dolphindrilling.com/)

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 the

Norwegian Securities Trading Act section 5-12 and the Euronext Growth Rule

Book part II.

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