Seadrill Limited — Director's Dealing 2019

Aug 26, 2019

SDRL - Issuance of restricted stock units to primary insiders

SDRL - Issuance of restricted stock units to primary insiders

This

Hamilton, Bermuda, August 26, 2019 - Seadrill Limited ("Seadrill" or the

"Company") announces that 308,371 Restricted Stock Units ("RSUs") were awarded

on August 23, 2019 to primary insiders.

The RSUs entitle the recipient to receive one common share for each RSU awarded

subject to the terms of the Employee Incentive Plan.  The RSUs are non-

transferable and one third of the award will vest and be delivered without

further consideration on each of the first three anniversaries following the

date of the award.

The following primary insiders have been allocated the RSUs shown in the table

below.

+-------------------+---------+--------------+---------------+-----------------+

|Primary Insider |Title |Number of RSUs|Total number of|Total interests |

| | | |RSUs held |in Company |

+-------------------+---------+--------------+---------------+-----------------+

|John Fredriksen |Chairman |44,053 |49,158 |Note (1) |

+-------------------+---------+--------------+---------------+-----------------+

|Eugene l. Davis |Director |44,053 |49,158 |  |

+-------------------+---------+--------------+---------------+-----------------+

|Kjell-Erik Østdahl |Director |44,053 |49,158 |  |

+-------------------+---------+--------------+---------------+-----------------+

|Peter J. Sharpe |Director |44,053 |49,158 |  |

+-------------------+---------+--------------+---------------+-----------------+

|Harald Thorstein |Director |44,053 |49,158 |  |

+-------------------+---------+--------------+---------------+-----------------+

|Birgitte Ringstad | |44,053 |49,158 |  |

|Vartdal |Director | | | |

+-------------------+---------+--------------+---------------+-----------------+

|Scott D. Vogel |Director |44,053 |49,158 |  |

+-------------------+---------+--------------+---------------+-----------------+

1. The affiliated ownership in Seadrill of Hemen Holding Limited ("Hemen"), a

company indirectly controlled by trusts established by Mr John Fredriksen

for the benefit of his immediate family, is 27,193,826 shares, equal to

27.19 percent of the issued shares and votes in the company, and it holds

TRS agreements with underlying exposure to 3,000,000 shares. Hemen does not

hold other shares or rights to shares in Seadrill.

This information is subject of the disclosure requirements pursuant to section

4-2 of the Norwegian Securities Trading Act.