Hamilton, Bermuda (November 14, 2024)

Reference is made to the stock exchange announcement made by Archer Limited (the “Company”) on  August 16, 2024, announcing that the Company had agreed to acquire an additional 10% of the shares in Iceland Drilling from its joint venture partner Kaldbakur for USD 2.5 million (the “Share Acquisition”), to be settled through the issuance of new shares in the Company to Kaldbakur. The Company has on November 13 issued 1,174,436 new shares in the Company (the “Consideration Shares”), to enable settlement of the Share Acquisition.

The Consideration Shares have been registered in Euronext Securities Oslo (being the Company’s branch register under Bermuda law) as duly issued. The Consideration Shares have been issued on a separate ISIN, pending the publication of a prospectus for the listing of such shares.  

Following registration of the new share capital pertaining to the issuance of the Consideration Shares, the Company’s issued share capital is USD 796,578.71 divided into 79,657,871 common shares, each with a nominal value of USD 0.01.

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