Certain Ordinary Shares of NorAm Drilling AS are subject to a Lock-Up Agreement Ending on 23-MAR-2023. These Ordinary Shares will be under lockup for 181 days starting from 23-SEP-2022 to 23-MAR-2023.

Details:
Certain customary lock-up arrangements restricting the free disposal of shares have been entered into by the members of the board and key management as well as certain major shareholders (holding 5% or more of the shares in the Company pre-equity) in connection with the Private Placement for a period of 6 months. Approximately 85% of the shares outstanding in the Company prior to completion of the Private Placement have been locked up based on these agreements.