Hamilton, Bermuda (November 14, 2024)

Reference is made to the stock exchange announcement made by Archer Limited (the “Company”) on October 31, 2024 regarding the successful private placement (the “Private Placement”) of 24,393,100 new common shares in the Company raising gross proceeds of the NOK equivalent of approx. USD 50 million. The Private Placement is divided in two separate tranches, where the first tranche consists of 13,512,837 new shares and the second tranche consists of the remaining 10,880,263 new shares (the “Tranche 2 Shares”) in the Private Placement.

The Tranche 2 Shares have now been registered in Euronext Securities Oslo (being the Company’s branch register under Bermuda law) as duly issued. The Tranche 2 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 Tranche 2 Shares, the Company’s issued share capital is USD 905,381.34 divided into 90,538,134 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.