Seadrill Limited — AGM Information 2018

Jul 3, 2018

Key information regarding Seadrill Limited's emergence from chapter 11

Key information regarding Seadrill Limited's emergence from chapter 11

Hamilton, Bermuda, 2 July 2018: Reference is made to the stock exchange announcement from Seadrill Limited (the "Company") earlier today, where the Company announced its emergence from chapter 11 after successfully completing its organization pursuant to its chapter 11 plan of organization (the "Plan"). Pursuant to the Plan, and as further explained in the stock exchange notice announced earlier, New SDRL Limited will have approximately 100,000,000 new common shares issued and outstanding (the "New Common Shares") on the Effective Date (as defined therein).

- Date on which the terms and conditions of the issuance of the New Common Shares were announced: 2 July 2018

- Last day including: 2 July 2018

- Ex-date: 3 July 2018

- Record date: 4 July 2018

- Exchange ratio: 0.0037345 New Common Shares per existing common share of the Company

- Date of delivery of the New Common Shares in the VPS: On or about 5 July 2018

- ISIN for the New Common Shares: BMG7998G1069

Subject to the relevant approvals, it is expected that the New Common Shares will be listed at the Oslo Stock Exchange towards the end of July 2018 or early August 2018.

This information is subject to the disclosure requirements of the Continuing Obligations of the Oslo Stock Exchange.