Seadrill Limited — Board/Management Information 2023

Jan 25, 2023

SDRL - Change to Board of Directors

SDRL - Change to Board of Directors

Hamilton, Bermuda, 25 January 2023 - Seadrill Limited ("Seadrill" or "the

Company") (NYSE & OSE: SDRL) is pleased to announce the appointment of Ana

Zambelli as a new board director.

Ms. Zambelli brings significant industry experience to the Company, with more

than 20 years' experience in the energy services sector in operational,

commercial and finance roles. Ms. Zambelli served as Chief Commercial Officer at

Maersk Drilling, Managing Director at Transocean, and President of the Brazilian

division of Schlumberger. Last, she served as a Managing Director in

Brookfield's Private Equity Group, responsible for business operations in

Brazil, where she also provided operational and financial oversight for

Brookfield portfolio companies. Ms. Zambelli previously served as an independent

member of the Board of Directors of Petrobras and Braskem, and was the founder

and leader of the Diversity Committee at the Brazilian Petroleum Institute (IBP)

from 2018 to present.

Julie Robertson, Chair of the Board, commented: "We warmly welcome Ana to the

Seadrill Board. Her extensive experience in the energy services sector,

including executive management positions for leading drilling contractors,

together with her board experience, complement the Seadrill Board and management

team, who are focussed on continuing to position Seadrill as the 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

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

all asset classes allowing its experienced crews to conduct operations across

geographies, from shallow to ultra-deep-water 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@hawthornadvisors.com