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: PETRELLO ANTHONY G (Director, CHAIRMAN, PRESIDENT & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-03	Common Stock	C	123	—	Acquired	140025	Indirect

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	900	Disposed		Common Stock (123)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	210357	Direct

Footnotes

F1: On May 3, 2021, the mandatory conversion date, each of the 900 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 123 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 and February 28, 2020 was originally inadvertently disclosed on Table I to a Form 4 filed on March 3, 2020.

F2: Mandatory conversion date of May 3, 2021.