Hamilton, Bermuda (April 26, 2017)

Reference is made to the announcement by Archer Limited (the “Company”) on 20 April 2017 regarding the final result of the Subsequent Offering, in which 4,925,171 shares (the “New Shares”) at a Subscription Price of NOK 10.00 per share were allocated.

The Company announces that 4,925,171 new shares of a nominal or par value of USD 0.01 each (the “New Shares”), authorized by the Company in connection with the Subsequent Offering, have been validly issued. The New Shares will be listed on Oslo Børs on 27 April 2017.

Following the issuance of the New Shares the Company has an issued share capital of USD 1,472,818.87 divided into 147,281,887 shares, each with a par value of USD 0.01. All shares have equal rights in all respects, including with respect to voting and dividends.

For further information, please contact:

Joachim Houeland, Corporate Treasurer and Investor Relations

+47 48 27 87 48

joachim.houeland@archerwell.com

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