Seadrill Limited — Delisting Announcement 2018

Aug 1, 2018

SDRL - Trading in SDRL R shares

SDRL - Trading in SDRL R shares

Hamilton, Bermuda, 1 August 2018 - Seadrill Limited ("Seadrill" or the

"Company") refers to the announcement dated 26 July 2018 regarding the listing

and trading of its shares on the Oslo Stock Exchange ("OSE") under the ticker

symbol "SDRL" (ISIN BMG7998G1069).

6,144,077 shares registered in the Norwegian Central Securities Depository

(Verdipapirsentralen) (the "VPS") are restricted shares in the U.S., and are

subject to a 40 day holding period (from 2 July 2018) during which they cannot

be traded in the U.S. These restricted shares may only be traded in accordance

with Regulation S, pursuant to registration under the Securities Act of 1933, as

amended (the "1933 Act") or pursuant to an available exemption from the

registration requirements of the 1933 Act.

These restricted shares are delivered and registered on a separate ISIN

USG8000W1130 in the VPS. They will be listed on the OSE under a separate ticker

symbol "SDRL R" and not traded under ticker symbol "SDRL" and ISIN BMG7998G1069.

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 filings with the Securities and

Exchange Commission, including its Annual Report on Form 20-F (File No.

001-34667). 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 of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act