Seadrill Limited - Earnings Release 2016

SDRL - Seadrill Limited Announces First Quarter 2016 Results

Highlights

* Revenue of $891 million

* EBITDA of $528 million

* 96% economic utilization

* Reported Net Income of $88 million and diluted earnings per share of $0.15

* Cash and cash equivalents of $1.09 billion

* The Seadrill Group achieved 97% economic utilization

* Seadrill Group orderbacklog of approximately $9.1 billion

Commenting today, Per Wullf, CEO and President of Seadrill Management Ltd., said

"During the first quarter we achieved record operational uptime and we continue

to see the benefits of our cost reduction program coming through.

Our key priorities for the year are cost reduction, managing newbuild deferments

and concluding our financing plans, while ensuring that we continue to maintain

safe and efficient operations. I am pleased to say we have made good progress in

all three areas during the first quarter."

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#2015694]

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