Seadrill Limited — Major Shareholding Notification 2023

Mar 9, 2023

SDRL - Disclosure of shareholding

SDRL - Disclosure of shareholding

9 March 2023: Reference is made to the stock exchange notice published on 8 March 2023 regarding a potential sale of existing shares in Seadrill Limited (the “Company”) by Støperigata Holding AS (the “Vendor”) through a private placement (the “Placing”).

The Vendor has sold 4,829,997 shares in the Company through the Placing (representing 9.66% of the share capital and votes in the Company) at a price of NOK 410 per share for a total transaction size of NOK 1,980 million.

Following completion of the Placing, the Vendor holds 4,000,000 shares in the Company, representing 8.00% of the share capital and votes in the Company. The Vendor is not represented on the Board of Directors of the Company. The Vendor has entered into a customary 90-day lock-up with the Managers (as defined below) on the remaining shares in the Company held by the Vendor after the Placing.

ABG Sundal Collier ASA and Arctic Securities AS acted as joint bookrunners in connection with the Placing (the “Managers”).

This disclosure is made pursuant to section 4-2 of the Norwegian Securities Trading Act