Seadrill Limited — Director's Dealing 2010

Jul 13, 2010

SDRL - Mandatory notification of trade

Hamilton, Bermuda, July 13, 2010 - Hemen Holdings Ltd, which is indirectly

controlled by trusts established by John Fredriksen for the benefit of his

immediate family, has extended TRS agreements relating to 3,9 million shares in

Seadrill Limited. The new expiration of the TRS agreements is 12 October 2010.

The exercise price on the agreements is nok 131.904 per share. Hemen Holding

Ltd's affiliated ownership in Seadrill is following this transaction unchanged

133.097.583 shares, constituting 32,28 percent of the issued share capital. In

addition Hemen Holding hold TRS agreements with exposure to 3.900.000 shares in

Seadrill Limited.

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1431203]