NODL: Approval and publication of prospectus

Bermuda, 18 December 2023: Reference is made to the stock exchange announcements published by Northern Drilling Ltd. (“Northern Drilling” or the “Company“) on 8 November 2023 regarding the issuance of 313,600,000 new shares allocated in a private placement and 23 November 2023 regarding the issuance of 18,433,188 new shares in a subsequent offering (jointly, the “New Shares“).

The Financial Supervisory Authority of Norway (Nw: Finanstilsynet) has today, on 18 December 2023, approved a prospectus prepared by the Company in connection with the listing of the New Shares (the “Prospectus“). The Prospectus has been prepared for the purpose of listing the New Shares only. Consequently, no securities are being offered under the Prospectus.

The Prospectus will be made available at the Company’s website (https://www.northerndrillingltd.com) and in the attached document. Following publication of the Prospectus, the New Shares are tradeable on Oslo Børs. Following the ordinary settlement procedures in VPS, the New Shares will be registered on the Company’s ordinary ISIN BMG6624L1090.

Prospectus – New shares

For further information, please contact:

Scott McReaken, CEO

Tel: +1 (832) 509-7191

This information is published in accordance with the disclosure requirements pursuant to section 4.5 (1) of Oslo Rule Book II and section 5-12 of the Norwegian Securities Trading Act.