Seadrill Limited — Board/Management Information 2021

May 27, 2021

Seadrill Limited (SDRL) - Appointment of Chief Financial Officer and Chief Operating Officer

Seadrill Limited (SDRL) - Appointment of Chief Financial Officer and Chief Operating Officer

Hamilton, Bermuda | May 27, 2021 - Seadrill Limited ("Seadrill" or the

"Company") (OSE:SDRL, OTCPK:SDRLF), is pleased to announce the appointment of

Grant Creed as Chief Financial Officer and Leif Nelson as Chief Operating

Officer, both effective immediately. Grant is an experienced senior finance

executive who joined Seadrill in 2013 and, prior to his appointment as Chief

Financial Officer, was Chief Restructuring Officer leading Seadrill's capital

restructuring. During his time at Seadrill, Grant has held various positions

including VP Mergers & Acquisitions and VP Corporate and Commercial Finance.

Prior to joining Seadrill, Grant held M&A Transaction Services and Audit

positions at Deloitte and is a chartered accountant.

Reid Warriner, Chief Operating Officer, has taken the decision to step down and

will support the company in delivering a smooth handover of activities in the

coming months. Leif Nelson, Seadrill's current Chief Technology Officer will now

also serve as the Chief Operating Officer. Having previously been Chief

Operating Officer of Seadrill for a number of years, Leif will ensure a smooth

continuation of safe and efficient operations.

Stuart Jackson, CEO of Seadrill, said: "Grant has a breadth of experience and

extensive expertise in capital market transactions, mergers and acquisitions and

driving efficiencies that will be key for the future of Seadrill. His

appointment positions the company strategically for the future as we prepare to

take the next steps in our financial restructuring, which will see Seadrill

solidify its position as a leading provider of offshore drilling services.

"I would like to thank Reid for his service and wish him every success for the

future as I welcome Leif back into the role of Chief Operating Officer. The

breadth and depth of Leif's experience in our industry, coupled with a proven

track record of delivering safe and efficient operations for our customers will

be key to our future success."

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 https://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