NABORS INDUSTRIES LTD — Director's Dealing 2021

May 5, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NABORS INDUSTRIES LTD (NBR)
CIK: 0001163739
Period of Report: 2021-05-03

Reporting Person: Restrepo William J (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-03	Common Stock	C	991	—	Acquired	91347	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-03	6.00% Mandatory Convertible Preferred Shares, Series A	$0	C	7230	Disposed		Common Stock (991)	Direct

Footnotes

F1: On May 3, 2021, the mandatory conversion date, each of the 7,230 shares of 6.00% Mandatory Convertible Preferred Shares, Series A (the "Preferred Shares"), held by the Reporting Person was automatically converted into 0.1372 of the Issuer's common shares, for a total of 991 common shares. The Reporting Person also received cash in lieu of fractional common shares pursuant to the mandatory conversion. The acquisition of the Preferred Shares on February 27, 2020 was originally inadvertently disclosed on Table I to a Form 4 filed on February 27, 2020.

F2: Mandatory conversion date of May 3, 2021.