Further to the stock exchange release of 1 October from Awilco Drilling PLC ("Awilco Drilling") regarding the exercising of 10,136,819 warrants the Company confirms that, as per the Warrant Deed dated 30 June 20203, warrants holders will receive an allocation of one Sponsored Norwegian Depository Receipt (SNDR) at a subscription price of NOK 1 per warrant exercised.