Seadrill Limited — Board/Management Information 2022

Mar 24, 2022

Seadrill Limited (SDRL) - Simon Johnson appointed President and Chief Executive Officer

Seadrill Limited (SDRL) - Simon Johnson appointed President and Chief Executive Officer

Hamilton, Bermuda, March 24, 2022 - The Board of Seadrill Limited ("Seadrill" or

the "Company") is pleased to announce the appointment of Simon Johnson as

President and Chief Executive Officer.

Mr. Johnson will replace Stuart Jackson as President and Chief Executive Officer

with immediate effect.

Julie Robertson, Chair of the Board of Seadrill, commented:

"On behalf of the Board of Seadrill, I would like to thank Stuart for his

contribution in guiding the company through its Chapter 11 bankruptcy

reorganization. These have been difficult times and we appreciate his work in

keeping the Company operating in a safe and effective manner. Stuart will no

longer be President and Chief Executive Officer with immediate effect.

We are also pleased to announce that Simon Johnson will succeed Stuart as

President and Chief Executive Officer of the Company. Simon has significant

experience in the offshore drilling industry, having previously served as Chief

Executive Officer of Borr Drilling, and in various roles with Noble Corporation,

including most recently as Senior Vice President - Marketing and Contracts,

Diamond Offshore and Seadrill. We believe that Simon is well-suited to lead the

Seadrill team following its emergence from bankruptcy."

Simon Johnson commented:

"I am excited to be joining the Seadrill team at a fascinating time in the

industry. As someone who was at the very beginning of the Seadrill story, I am

proud to return in a leadership role and look forward to working with our

shareholders, employees, customers and vendors to re-launch our investment

proposition with a laser focus on value creation."

Simon Johnson Biography

Simon W. Johnson has worked internationally for the past 25 years for a number

of publicly listed offshore drilling contractors, including Diamond Offshore,

Seadrill, Noble Corporation and Borr Drilling. His early career saw exposure to

various rig and shore-based operational roles for MODUs in South East Asia

before migrating to more commercially focused roles including Senior Vice

President - Marketing and Contracts at Noble Corporation and Chief Executive

Officer of Borr Drilling. Mr. Johnson has demonstrated strengths in strategy

development, investor engagement and relationship management.  Mr. Johnson has

many years of exposure to board engagements and associated corporate governance

and compliance issues.  He holds a Bachelor of Commerce (Economics & Finance)

from Curtin University and has completed the Advanced Management Program at

Harvard Business School.

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 owns and/or operates 32

rigs, which includes drillships, jack-ups and semi-submersibles.

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.

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

-12 of the Norwegian Securities Trading Act.

Media questions should be directed to Sara Dunne, Director of Communications +1

(281) 630-7064

Analyst and investor questions should be directed to Hawthorn Advisors +44 (0)

203 745-4960