Reference is made to the stock exchange notice from Archer Limited
(Archer) in connection with the private placement of new shares.
Upon completion of the private placement, Seadrill Ltd will own 23,105,324
shares in Archer, representing approximately 16% of the issued shares and
voting rights in the company. In addition, Seadrill will be given the
right to subscribe for new shares in a subsequent offering, with the
number of such rights to be confirmed, as further described in a stock
exchange notice from Archer today.