Seadrill Limited — Director's Dealing 2010

Oct 13, 2010

SDRL - Mandatory notification of trade

Hamilton, Bermuda, October 14, 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 November

30th, 2010. The exercise price on the agreements is NOK171.7113 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#1451499]