NEWS

Hamilton, Bermuda, 27 April 2022 – Reference is made to the stock exchange announcement published by the Oslo Stock Exchange on 26 April 2022, regarding its decision to admit the shares of seadrill Limited (“seadrill” or "the Company") (OSE ticker: SDRL) to trading on Euronext Expand. 

The first day of trading of the Company's shares on Euronext Expand is expected to be on or about 28 April 2022.

The Company has prepared a prospectus in connection with the listing of the shares on Euronext Expand and the contemplated subsequent transfer to and listing on the Oslo Stock Exchange's main list (the "Prospectus"). The Prospectus has been approved by the Norwegian Financial Supervisory Authority and will be made available on the Company's website: www.seadrill.com/investors.

Grant Creed, seadrill’s Chief Financial Officer, commented, “Listing on the Euronext Expand is an important milestone in seadrill’s ability to continue setting the standard in offshore drilling. We look forward to seadrill once again being listed in the public markets and continuing our long history of strong engagement with the investor community.”

About seadrill

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 from shallow to ultra-deep-water environments. The Company owns and/or operates 30 rigs, which includes drillships, semi-submersibles, and jack-ups.

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 and the markets in which it operates. 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 to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.