Seadrill Limited — Board/Management Information 2021

May 27, 2021

Seadrill Limited (SDRL) - Board Appointment

Seadrill Limited (SDRL) - Board Appointment

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

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

Svein Harald Øygard as a new board director. Mr Øygard brings significant

financial and sector expertise to the Company, with decades of international

experience in the government, financial and energy sectors. He worked within the

Norwegian Ministry of Finance and various other governmental agencies, including

as State Secretary of Finance, where he led the work on the Norwegian Tax Reform

1992, the Norwegian Government's Long-Term Program and the report on the

economic effects of a possible EU membership. In 1995, he joined global

consultancy McKinsey in Norway, a business he ran from 2005 to 2007. In 2009, he

was Interim Governor of the Central Bank of Iceland, before returning to

McKinsey. He served as Global Knowledge Leader Oil & Gas from 2010 to 2014 and

led the firm's oil and gas work in South America from 2013 to 2016.

Taking his expertise freelance in 2016, Mr. Øygard has since held board

positions for a range of international firms operating in the oil and gas sector

and from 2017 to early 2021 worked for Sparebank 1 Markets. An established

author and economist, in 2019 Mr. Øygard published a book entitled "In the

Combat Zone of Finance", which focused on the 2008 financial crisis and its

macroeconomic impact. Originally published in Norwegian and Icelandic, the book

has also been translated into English and Chinese.

Glen Ole Rødland, Chairman commented: "We are delighted to welcome Svein Harald

to Seadrill's board. His expertise in the oil and gas sector, alongside his

directorship and board committee experience, complement a board and management

dedicated to further developing Seadrill's position as the sector's leading

offshore driller."

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