Seadrill Limited — Management Reports 2017

Dec 16, 2017

SDRL - Seadrill Announces Updated Business Plan

SDRL - Seadrill Announces Updated Business Plan

Hamilton, Bermuda, December 16, 2017 - On September 12, 2017, Seadrill Limited

("Seadrill" or the "Company") filed a Form 6K, attached to which as Exhibit

99-1 was a presentation which included the Company's business plan.  In the

ordinary course of business, Seadrill has prepared an updated business plan,

which is attached hereto.

Also, on December 15, 2017, the Company filed a revised disclosure statement

with the court overseeing its chapter 11 cases in the Southern District of

Texas.  The revised disclosure statement includes valuation and liquidation

analyses prepared by the Company and its advisors and can be viewed at

https://www.primeclerk.com/SeadrillAmendedDS.

This press release is not intended to be, and should not in any way be construed

as, a solicitation of votes of bondholders or other investors regarding the

chapter 11 plan.

CONTACT:

Prime Clerk

US Toll Free: 844-858-8891

Brazil Toll Free: 0-800-591-8054

Mexico Toll Free: 01-800-681-5354

Nigeria Toll Free: 070-80601847

Norway Toll Free: 800-25-030

Saudi Arabia Toll Free: 800-850-0029

Singapore Toll Free: 800-492-2272

Thailand Toll Free: 1-800-011-156

UAE Toll Free: 8000-3570-4559

UK Toll Free: 0-800-069-8580

Email: seadrillinfo@primeclerk.com

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 filings with the Securities and

Exchange Commission, including its Annual Report on Form 20-F (File No.

001-34667). 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.