Seadrill Limited - Capital/Financing Update 2017

SDRL - Amendment to Secured Credit Facility

Hamilton, Bermuda, August 15, 2017 - Seadrill Limited ("SDRL" or "the Company")

announces today that it has amended the term credit facility provided to

Seadrill Eminence Ltd., a wholly owned subsidiary of the Company, to mature on

September 14, 2017.

The amendment was implemented by way of a scheme of arrangement under section

99 of the Companies Act 1981 of Bermuda. The scheme received approval from 100

per cent. of the number and 100 per cent. by value of the scheme creditors

voting at the scheme meeting and was sanctioned by the Supreme Court of Bermuda

on August 14, 2017.

The amendment aligns the maturity of the facility with that of (i) the Company's

US$400 million credit facility and (ii) the revolving credit facility provided

to North Atlantic Drilling Ltd., a majority owned subsidiary of the Company,

thereby providing an additional period for negotiations to continue with the

Company's bank group and other stakeholders over a comprehensive restructuring

plan.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

AI assistant