Awilco Drilling PLC: Ruling of the second arbitration case

Reference is made to the Half-Year Report 2023 and the stock exchange release of 14 March 2023 from Awilco Drilling PLC (“Awilco Drilling”) regarding the termination of the newbuilding contract between Awilco Rig 2 Pte. Ltd. (“AR2”) and Keppel FELS Limited (“KFELS”) for the construction of a semi-submersible drilling rig, hull number B382.Today, the Company has received the arbitration tribunal ruling which is in AR2’s favour in an amount of USD 43.0 million plus interest and legal costs. The
tribunal will issue a further award related to interest and costs. We will revert with further information including any notice of appeal received as appropriate.

Aberdeen, 23 November 2023

For further information please contact:

Eric Jacobs, CEO of Awilco Drilling PLC
Phone: +47 9529 2271

Cathrine Haavind, Investor Relations of Awilco Drilling PLC
Phone: +47 9342 8464

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