Dolphin Drilling AS - Share Issue/Capital Change 2026

Dolphin Drilling AS New share capital and reverse share split registered

Oslo, 14 January 2026: Reference is made to the stock exchange announcements

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

resolution by an extraordinary general meeting in the Company to, among other

things, conduct a reverse share split in the ratio of 300:1, and on 12 January

2026 regarding the resolution to increase the share capital to facilitate the

reverse share split.

The share capital increase and the reverse share split have today been

registered with the Norwegian Register of Business Enterprises:

Share capital: NOK 477,724,077.00

Total number of shares: 159,241,359

Par value of each share: NOK 3.00

The last day including the reverse share split will be tomorrow, Thursday 15

January 2026.

For further information, please contact:

Ingolf Gillesdal, CFO

Tel: +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 the

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

Book part II.

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