Odfjell Drilling

M&A Activity • Nov 16, 2025

Odfjell Drilling Ltd. Letter of Intent Signed for Deepsea Aberdeen

Odfjell Drilling Ltd. Letter of Intent Signed for Deepsea Aberdeen

Odfjell Drilling Ltd. is pleased to announce the signing of a Letter of Intent (“LOI”) with an undisclosed client for use of the Deepsea Aberdeen.

The work included in the LOI will begin in late 2026; in direct continuation of the unit’s current contract and will increase Deepsea Aberdeen’s firm backlog until Q2 2029. The LOI is contingent on customary subjects.

Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling AS commented:

“At Odfjell Drilling, one of our main priorities is to maintain strong, continuous backlog coverage on our units. This eliminates cash flow risk and allows us to invest in our rigs, invest in our people and invest in our relationships with our clients whilst maintaining significant cash flow visibility.

“We are delighted to have agreed this LOI for use of the Deepsea Aberdeen. The Deepsea Aberdeen is rightly known as one of the best harsh environment units in the world and with this backlog, we look forward to continuing to build upon this legacy.”

For further queries, please contact:

James Crothers, Investor Relations Officer

+44 (0) 7495 067 684

jchu@odfjelldrilling.com

London, United Kingdom

16 November 2025

Odfjell Drilling Ltd

This information is published in accordance with the requirements of the Oslo Børs Rule Book II section 4.2.4 (1) no. 3 and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.