Seadrill Limited — Major Shareholding Notification 2010

Nov 30, 2010

Disclosure of holding

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

March 1th 2011. The exercise price on the agreements

is NOK 189.7251 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.