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.

Each warrant holder who exercised his/her warrants correctly before end of business on 27 September 2024 will shortly receive an allocation letter with payment details. Payment falls due on 15 October to an escrow account in the name of Awilco Drilling PLC. The new SNDRs will be delivered when the share capital increase has been registered, expected on or about 18 October 2024.