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Seadrill Limited Major Shareholding Notification 2015

Nov 11, 2015

9186_mrq_2015-11-11_e54d1fec-93f7-4590-a12d-ea077730d98d.pdf

Major Shareholding Notification

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Beech Gate Millfield Lane Lower Kingswood Tadworth Surrey KT20 6RP

T: +44 1732361144 F: +44 1732838886 www.fidelity.co.uk

Oslo Stock Exchange Box 460 Sentrum, 0105 Oslo, Norway

TEL: +47 22 34 17 00

11 November 2015

Dear Sir / Madam,

Securities Regulation of 29 June 2007 ("STA") - Disclosure of Significant Shareholding in Sevan Drilling Limited.

In the name and on behalf FIL Limited, Pembroke Hall, 42 Crow Lane, Pembroke, HM19 Bermuda, (the "Investment Manager") we hereby notify you pursuant to STA Chapter 4, Section 4-1 the following:

On 10 November 2015 the shares and rights to shares in Sevan Drilling Limited (the "Company") attributable to the Investment Manager crossed below the threshold of 5%. The threshold was crossed by means of sale of 9,000 shares.

As a consequence, the total shareholding deemed to be held is 1,486,513 which represents 4.99% of the shares outstanding and voting rights of the Company.

The shares and rights to shares are owned by the funds listed on Schedule A and are managed by the designated management companies which are undertakings controlled by the Investment Manager.

If you have any questions with respect to this notification, please contact Sally-Ann Hatton, Regulatory Reporting, at +44 1737 837148 or via email [email protected].

By

Sally-Ann Hatton Regulatory Reporting Manager Duly authorized under Power of Attorney effective October 1, 2013 by Allan Pelvang by and on behalf FIL Limited and its direct and indirect subsidiaries.

Beech Gate Millfield Lane Lower Kingswood Tadworth Surrey KT20 6RP

T: +44 1732361144 F: +44 1732838886 www.fidelity.co.uk

Enclosure

Schedule A

Security: Sevan Drilling Limited

Shares:

FUND NAME MANAGEMENT
COMPANY
SHARES
HELD
FID SPECIAL SITUATIONS FIL INVESTMENT
FD SERVICES (UK) LIMITED 989,473
FIL INVESTMENTS
FID SPECIAL VALUES INTERNATIONAL 190,916
FIDELITY UK GROWTH FIL INVESTMENT
FUND SERVICES (UK) LIMITED 140,733
FIL INVESTMENT
FID UK SMALLER COS FD SERVICES (UK) LIMITED 165,391
Shares Held
Shares in issue and voting
1,486,513

rights figure: 29,731,457 Ownership Percentage 4.99%

Rights to Shares:

FUND NAME MANAGEMENT
COMPANY
INSTRUMENT SHARES
EQUIVALENT
MATURITY
NIL
Rights to Shares Held 0
Shares in issue and voting
rights figure: 29,731,457
Ownership Percentage 0.00%
Total Shares and Rights to
Shares Held 1,486,513
Shares in issue and voting
rights figure: 29,731,457
Ownership Percentage 4.99%

FIL INVESTMENT SERVICES (UK) LIMITED & FIL INVESTMENTS INTERNATIONAL are investment management companies and are subsidiaries of FIL Limited.

FIL Investments International (Company No. 1448245) FIL Investment Services (UK) limited (Company No. 2016555) Financial Administration Services Limited (Company No. 1629709) and FIL Life Insurance Limited (Company No. 3406905). All these companies are registered in England and Wales with their registered office being Oakhill House, 130 Tonbridge Road, Hildenborough, Tonbridge, Kent TN11 9DZ. All these companies are authorised and regulated by the Financial Conduct Authority with the exception of FIL Life Insurance Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.