Seadrill Ltd — Regulatory Filings 2024

May 13, 2024

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 6-K

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REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2024

Commission File Number: 001-39327

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SEADRILL LIMITED

(Exact name of Registrant as specified in its Charter)

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Park Place

55 Par-la-Ville Road Hamilton HM 11 Bermuda

(Address of principal executive office)

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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Seadrill Announces Transactions Made Under the Company’s Share Repurchase Program

Hamilton, Bermuda, May 13, 2024 - Seadrill Limited (“Seadrill” or the “Company”) (NYSE & OSE: SDRL) initiated a share repurchase program December 14, 2023 to repurchase up to $250 million of the Company’s common shares in open market transactions on the OSE and NYSE until no later than September 30, 2024 pursuant to an agreement with Fearnley Securities AS and its subsidiary, Fearnley Securities, Inc. (“Fearnley”).

For the period from and including May 6, 2024 through May 10, 2024, the Company purchased a total of 186,100 shares at an average price of $51.25 per share. The transactions effected through the agreement with Fearnley comprise all the transactions effected by or on behalf of the Company during the period.

Transaction Overview

Date	Trading Venue	Volume	Weighted Average Share Price (USD)	Total Daily Transaction Value (USD)
6-May-24	OSE	1,855	50.45	93,577
6-May-24	NYSE	34,751	51.10	1,775,700
7-May-24	OSE	3,000	50.55	151,650
7-May-24	NYSE	34,053	51.09	1,739,706
8-May-24	OSE	1,820	50.72	92,303
8-May-24	NYSE	35,330	51.36	1,814,598
9-May-24	NYSE	36,950	52.06	1,923,576
10-May-24	OSE	5,000	51.55	257,743
10-May-24	NYSE	33,341	50.63	1,688,148
Period Total	OSE	11,675	50.99	595,273
	NYSE	174,425	51.26	8,941,729
	Total	186,100	51.25	9,537,002
Previously Disclosed Buybacks Under the Program (Accumulated)	OSE	479,964	46.10	22,126,708
	NYSE	3,438,331	46.70	160,585,353
	Total	3,918,295	46.63	182,712,061
Program Total	OSE	491,639	46.22	22,721,982
	NYSE	3,612,756	46.92	169,527,082
	Total	4,104,395	46.84	192,249,064

The issuer’s holding of repurchased shares: 4,104,395

Following the completion of the above transactions, the Company had repurchased a to tal of 4,104,395 shares, corresponding to 5.54% of the Company’s total issued share count .

Appendix: An overview of all transactions made under the Company’s repurchase program and its agreement with Fearnley that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no .

Contact Information

Lydia Brantley Mabry

Director of Investor Relations

ir@seadrill.com

About Seadrill Limited Seadrill is a leading offshore drilling contractor utilizing advanced technology to unlock oil and gas resources for clients across harsh and benign locations around the globe. Seadrill’s high-quality, technologically-advanced fleet spans all asset classes allowing its experienced crews to conduct operations across geographies, from shallow to ultra-deepwater environments.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 13, 2024
By:	/s/ Grant Creed Name: Grant Creed Title: Chief Financial Officer

THIS REPORT ON FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO (I) THE REGISTRATION STATEMENT ON FORM F-3 (NO. 333-271916) ORIGINALLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MAY 15, 2023 AND (II) THE REGISTRATION STATEMENT ON FORM S-8 (NO. 333-276710) ORIGINALLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 26, 2024.