Seadrill Limited — Major Shareholding Notification 2019

Feb 5, 2019

NOTIFICATION OF SHAREHOLDING

NOTIFICATION OF SHAREHOLDING

Hemen Holding Limited ("Hemen"), a company indirectly controlled by trusts established by Mr John Fredriksen for the benefit of his immediate family, has been informed that 267,893 shares in Seadrill Limited ("Seadrill”) have been released to Hemen. The shares have been part of reserves established for claims relating to Seabras Sapura, of which Seadrill owns a 50% interest.

As of the date hereof, Hemen has an affiliated ownership in Seadrill of 27,193,826 shares, equal to 27.19 percent of the issued shares and votes in the company, and in addition hold TRS agreements with underlying exposure to 3,000,000 shares. Expiry date for the TRS agreement is March 6, 2019, and the TRS price is NOK 114.633 per share. Hemen does not hold other shares or rights to shares in Seadrill. This disclosure is made pursuant to section 4-2 of the Norwegian Securities Trading Act.