Seadrill Limited (SDRL) Announces Sale of Tender-Assist Units

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Seadrill Limited (SDRL) Announces Sale of Tender-Assist Units

Hamilton, Bermuda, June 21, 2023 – Seadrill Limited ("Seadrill" or the "Company") (NYSE & OSE: SDRL) today announces that it has entered into definitive sale and purchase agreements under which Seadrill will sell the tender-assist units known as the West Vencedor, T-15 and T-16 (the “Tender-Assist Units”) to certain affiliates of Energy Drilling Pte. Ltd. (“Edrill”) for aggregate cash proceeds of approximately $85 million (the “Transaction”). The operations and marketing of the Tender-Assist Units are currently managed by Edrill under existing agreements. The Transaction is subject to customary closing conditions and is expected to close early Q3 2023. Upon closing of the Transaction, the Tender-Assist Units will be owned by Edrill.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.