20 December, 2021 - Hamilton, Bermuda

Northern Drilling Ltd. ("NODL" or the "Company") has signed a settlement
agreement with Seadrill Ltd and its subsidiaries ("Seadrill") relating to
limited services for supervision, preservation and maintenance management
services dating back to January 2018.


The settlement closes all outstanding balances and claims between the companies
and is subject to approval by the United States Bankruptcy Court for the
Southern District of Texas in Seadrill's Chapter 11 bankruptcy case, In re
Seadrill Limited, Case No. 20-30427. The Company anticipates that the effective
date of this settlement will occur within four weeks.


Additional information about the Company can be found at:
www.northerndrillingltd.com


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Forward Looking Statements

Matters discussed in this release may contain certain forward-looking statements
relating to the business, financial performance and results of the Company
and/or the industry in which it operates, sometimes identified by the words
"believes", "expects", "intends", "plans", "estimates" and similar expressions.
The forward-looking statements contained in this release, including assumptions,
opinions and views of the Company or cited from third-party sources, are solely
opinions and forecasts which are subject to risks, uncertainties and other
factors that may cause actual events to differ materially from any anticipated
development. The Company does not provide any assurance that that the
assumptions underlying such forward-looking statements are free from errors, nor
does the Company accept any responsibility for the future accuracy of the
opinions expressed in the presentation or the actual occurrence of the
forecasted developments. No obligations are assumed to update any
forward-looking statements or to conform to these forward-looking statements to
actual results.

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