Seadrill Limited — AGM Information 2022

Dec 27, 2022

SDRL: 2022 Annual General Meeting of Shareholders

SDRL: 2022 Annual General Meeting of Shareholders

Hamilton, Bermuda, December 27, 2022 -Seadrill Limited ("Seadrill" or "the

Company")(NYSE & OSE: SDRL) announces today that, in accordance with its bye

-laws, it has scheduled its Annual General Meeting of Shareholders in respect of

the 2022 calendar year. The 2022 Annual General Meeting shall be held in Bermuda

on 21 March 2023.  A copy of the Notice of Annual General Meeting and Proxy

Statement will be distributed to shareholders closer to the meeting date.

About Seadrill

Seadrill is a leading offshore drilling contractor utilizing advanced technology

to unlock oil and gas resources for clients across harsh and benign locations

around the globe. Seadrill's high-quality, technologically advanced fleet spans

all asset classes allowing its experienced crews to conduct operations from

shallow to ultra-deepwater environments.

Forward-Looking Statements

This news release includes forward-looking statements. Such statements are

generally not historical in nature, and specifically include statements about

the Company's plans, strategies, business prospects, changes and trends in its

business and the markets in which it operates.

These statements are made based upon management's current plans, expectations,

assumptions and beliefs concerning future events impacting the Company and

therefore involve a number of risks, uncertainties and assumptions that could

cause actual results to differ materially from those expressed or implied in the

forward-looking statements, which speak only as of the date of this news

release. Consequently, no forward-looking statement can be guaranteed. When

considering these forward-looking statements, you should keep in mind the risks

described from time to time in the Company's regulatory filings and periodical

reporting. The Company undertakes no obligation to update any forward-looking

statements to reflect events or circumstances after the date on which such

statement is made or to reflect the occurrence of unanticipated events. New

factors emerge from time to time, and it is not possible for the Company to

predict all of these factors. Further, the Company cannot assess the impact of

each such factor on its business or the extent to which any factor, or

combination of factors, may cause actual results to be materially different from

those contained in any forward-looking statement.

Consequently, no forward-looking statement can be guaranteed. When considering

these forward-looking statements, you should also keep in mind the risks

described from time to time in the Company's filings with the SEC, including its

Annual Report on Form 20-F for the year ended December 31, 2021, filed with the

SEC on April 29, 2022 (File No. 001-39327 (http://tel:001-39327)).

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

Seadrill Contact Information

David Warwick

Director of Investor Relations

David.Warwick@Seadrill.com