Seadrill Limited - Major Shareholding Notification 2020

SDRL - Seadrill Announces Acquisition of Shares in Asia Offshore Drilling

Hamilton, Bermuda, September 14, 2020 - Seadrill Limited ("Seadrill" or the

"Company") (OSE:SDRL, OTCQX:SDRLF) announces its acquisition of the minority

holding of 33.76% of the share capital of Asia Offshore Drilling Limited

("AOD").

The consideration for the shares in AOD is USD 31,000,000, and it is expected

that completion of the share transfer and payment of the consideration will

occur by the end of September 2020. Following completion, Seadrill will, through

its subsidiary Seadrill Rig Holding Company Limited, hold 100% of the shares in

AOD.

-ENDS-

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are

generally not historical in nature, and specifically include statements about

the Company's plans, strategies, business prospects, changes and trends in its

business, the markets in which it operates and its restructuring efforts. These

statements are made based upon management's current plans, expectations,

assumptions and beliefs concerning future events impacting the Company and

therefore involve a number of risks, uncertainties and assumptions that could

cause actual results to differ materially from those expressed or implied in the

forward-looking statements, which speak only as of the date of this news

release. Consequently, no forward-looking statement can be guaranteed. When

considering these forward-looking statements, you should keep in mind the risks

described from time to time in the Company's regulatory filings and periodical

reporting. The Company undertakes no obligation to update any forward looking

statements to reflect events or circumstances after the date on which such

statement is made or to reflect the occurrence of unanticipated events. New

factors emerge from time to time, and it is not possible for the Company to

predict all of these factors. Further, the Company cannot assess the impact of

each such factor on its business or the extent to which any factor, or

combination of factors, may cause actual results to be materially different from

those contained in any forward looking statement.

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

AI assistant