Hamilton, Bermuda (17 October, 2018)

Archer Limited (“Archer” or the “Company”) announces that it has secured a contract extension with a major operator for two more years.  The contract extension is scheduled to commence 1st November 2018 and ensures continuity of platform drilling operations and maintenance management services on seven platforms located in the UK sector of the North Sea.

This award represents the sixteenth contract extension and competitive re-tender award to Archer in the last four years for platform drilling operations and maintenance services in the UK, Norway, Greece and Brazil.

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