Awilco Drilling PLC: Result of the Subsequent Offering

Aberdeen, 19 June 2018

Reference is made to the stock exchange release from Awilco Drilling Plc (the “Company”) published on 7 June 2018 regarding the approval of the prospectus in connection with the subsequent offering of up to 1,400,000 new shares (the “Offer Shares”) in the Company (the “Subsequent Offering”) and the commencement of the subscription period in the Subsequent Offering.

The subscription period in the Subsequent Offering expired at 16:30 hours (CET) on 18 June 2017. A total of 1,400,000 shares will be allocated with a subscription price of NOK 27.35 per share, raising approximately USD 4.7 million in gross proceeds.

The Company expects that the Offer Shares will be issued on or about 22 June 2018, and be admitted to trading on Oslo Axess on or about 22 June 2018.

ABG Sundal Collier ASA, Arctic Securities AS and Fearnley Securities AS have acted as managers in the Subsequent Offering (the “Managers”).

For further information, please contact:

Jon Oliver Bryce, CEO

Phone +44 1224 737900

Cathrine Haavind, IR Manager

Phone: +47 93 42 84 64

Email: ch@awilcodrilling.com

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

Important information:

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or any other jurisdiction in which the release, publication or distribution would be unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “US Securities Act”). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assumes any responsibility in the event there is a violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Managers are acting for the Company and no one else in connection with the Private Placement and the Subsequent Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Private Placement and the Subsequent Offering and/or any other matter referred to in this release.

Forward-looking statements:

This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company’s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.