Decision to not appeal the first

Reference is made to the stock exchange release of 8 June 2020 from Awilco Drilling PLC (“Awilco Drilling”) regarding the termination of the newbuilding contract between Awilco Rig 1 Pte. Ltd. (“AR1”) and Keppel FELS Limited (“KFELS”) for the construction of a semi-submersible drilling rig, hull number B379 and the stock exchange release from the Company of 21 April 2023 regarding the ruling of the first arbitration.

Although disappointed with the ruling, AR1 has determined that no appeal will be made.           

Aberdeen, 11 May 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.