Seadrill Limited - Capital/Financing Update 2015

SDRL - Approval for NADL Norwegian Bond Amendment

Hamilton, Bermuda, February 5, 2015 - Seadrill Limited("Seadrill" or the

"Company") announces that North Atlantic Drilling has received approval from its

Norwegian Bondholders to amend the Bond Agreement entered into with the Nordic

Trustee ASA in October 2013 (ISIN: NO 001 069241.1).

Following this approval, Seadrill will provide a guarantee for the Bond Issue in

favor of the Trustee (on behalf of the Bondholders) in exchange for some

amendments to the Bond Issue's covenant package, namely replacing the Issuer's

current financial covenants with Seadrill financial covenants.

FORWARD LOOKING STATEMENTS

The statements described in this presentation that are not historical facts are

forward-looking statements within the meaning of Section 27A of the Securities

Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-

looking statements which could be made include, but are not limited to,

statements involving prospects for the Company, expected revenues, capital

expenditures, costs and results of operations and contingencies and other

factors discussed in the Company's most recent annual report on the Form 20-F

for the year ended December 31, 2013 and in the Company's other filings with the

SEC, which are available free of charge on the SEC's website at www.sec.gov.

Should one or more of these risks or uncertainties materialize, or should

underlying assumptions prove incorrect, actual results may vary materially from

those indicated. All subsequent written and oral forward-looking statements

attributable to the Company or to persons acting on our behalf are expressly

qualified in their entirety by reference to these risks and uncertainties. You

should not place undue reliance on forward-looking statements. Each forward-

looking statement speaks only as of the date of the particular statement, and we

undertake no obligation to publicly update or revise any forward-looking

statements.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1892306]

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