Seadrill Limited Announces Organizational Change

December 14, 2023-- As previously announced, Seadrill Limited ("Seadrill" or the "Company") (NYSE & OSE: SDRL) has decided to close its London, England office and consolidate its corporate office in Houston, Texas. The Company announced today that its Executive Vice President and Chief Operating & Technology Officer, Leif Nelson, will not relocate to Houston and instead will be departing Seadrill.

In connection with Mr. Nelson’s departure, the Company has promoted Marcel Wieggers to Senior Vice President - Operations, reporting directly to Simon Johnson, President and Chief Executive Officer. Mr. Wieggers has been with Seadrill since 2009, most recently serving as Vice President - Operations.

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

About Seadrill Limited

Seadrill is a leading offshore drilling contractor utilizing advanced technology to unlock oil and gas resources for clients across harsh and benign locations around the globe. Seadrill's high-quality, technologically-advanced fleet spans all asset classes allowing its experienced crews to conduct operations across geographies, from shallow to ultra-deepwater environments.

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For additional information, visit www.seadrill.com.

Benjamin Wiseman Corporate Finance Manager & Investor Relations T: [phone] E: [e-mail]