Hamilton, Bermuda (February 20, 2025)

Reference is made to the press release published by Archer Limited on 12 February 2025 regarding the exercise of the option to redeem all outstanding bonds under its FRN senior secured second lien bonds with ISIN NO0012878992 (the “Call option”).

Please find attached the notice from Nordic Trustee AS to the bondholders regarding the calculation of the redemption price.

For additional information, please contact:

Dag Skindlo, Chief Executive Officer, Mobile: +47 982 26 624, Email: dag.skindlo@archerwell.com

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

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