Hamilton, Bermuda (August 29, 2025)

Archer announces that Pan American Energy  is renewing two drilling contracts in Vaca Muerta. The contracts are in direct continuation of the existing contract and have been renewed for two years. The estimate the contract value is around $60 million.

“Pan American is a leading player in the oil and gas industry in Argentina and this contract extension reflects their confidence in Archer`s ability to deliver safe and cost-effective operations. We are excited about the opportunity to continue supporting Pan American with high quality and efficient drilling services in the years to come" says Gerardo Molinaro, Vice President Archer Land Drilling.

For additional information, please contact:

Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email: espen.joranger@archerwell.com

Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78 748, Email: joachim.houeland@archerwell.com