Seadrill Limited — Board/Management Information 2021

May 31, 2021

Seadrill Limited (SDRL) - Glen Ole Rødland steps down as Chairman

Seadrill Limited (SDRL) - Glen Ole Rødland steps down as Chairman

Hamilton, Bermuda | 31 May 2021 - Seadrill Limited ("Seadrill" or "the Company")

(OSE:SDRL, OTCPK:SDRLF), announces that Glen Ole Rødland has notified Seadrill

that he will be stepping down from the Board with immediate effect, having been

Chairman since November 2019. The Board would like to thank Glen for his

leadership and counsel during his tenure as Chairman of Seadrill, and the work

he has led to progress our current restructuring.

Stuart Jackson, CEO said, "We continue to make good progress with our lenders

through productive discussions and our board and management team remain focussed

on delivering a significant balance sheet deleveraging to support our safe and

efficient operations."

"For me, now is the right time to hand over the reins, the restructuring has

been complex and multi-faceted and I have every confidence the board will guide

the deal over the line" says Glen Ole Rødland.

-ENDS-

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

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

all asset classes allowing its experienced crews to conduct its operations from

shallow to ultra-deep-water environments. The company operates 43 rigs, which

includes drillships, jack-ups and semi-submersibles. Seadrill is listed on the

Oslo Børs and OTC Pink markets. For more information, visit www.seadrill.com

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, the markets in which it operates and its restructuring efforts. 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.

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

-12 of the Norwegian Securities Trading Act.

seadrill@hawthornadvisors.com

020 3745 4960