Seadrill Limited — Delisting Announcement 2022

Oct 11, 2022

Seadrill Limited announces relisting on NYSE

Seadrill Limited announces relisting on NYSE

Hamilton, Bermuda, October 11, 2022 - Seadrill Limited ("Seadrill" or the

"Company") (XOAS: SDRL) announces today that the Company has received approval

to relist its common shares on the New York Stock Exchange ("NYSE") under the

ticker symbol "SDRL". The Company expects the common shares to commence trading

on or about Friday, October 14, 2022.

Simon Johnson, Seadrill Chief Executive Officer, commented, "We are pleased to

be re-listing the company on the NYSE. Our participation in the U.S. public

markets should provide additional liquidity in our stock and provide access to

new investors. We look forward to continuing our long history of strong

engagement with our investment audience."

Seadrill Contact Information

David Warwick

Director of Investor Relations

T: +971 58 687 4132

E: David.Warwick@Seadrill.com

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 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 expectations about the listing of the common shares on the NYSE,

as well as 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).

This information is subject to the disclosure requirements pursuant to article

19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5

-12 of the Norwegian Securities Trading Act.

Seadrill Contact Information

David Warwick

Director of Investor Relations

T: +971 58 687 4132

E: David.Warwick@Seadrill.com