Hamilton, Bermuda, 14 May 2024 - Further to the release of Seadrill Limited's
("Seadrill" or the "Company") (NYSE & OSE: SDRL) First Quarter 2024 Results
earlier today, this announcement is made to provide the attached earnings press
release and Interim Financial Statements on Form 6-K to Oslo Børs. The content
of the documents has not been altered in any way since the initial publication
of our results earlier today. 

About Seadrill 
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. 

Contact Information 
Lydia Brantley Mabry 
Director of Investor Relations 
ir@seadrill.com

Forward-Looking Statements 
This news release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended.  All statements other than
statements of historical facts included in this news release, including, without
limitation, those regarding the Company's outlook and guidance, plans,
strategies, business prospects, rig activity, share repurchases and changes and
trends in its business and the markets in which it operates, are forward-looking
statements.  These statements may include words such as "assumes", "projects",
"forecasts", "estimates", "expects", "anticipates", "believes", "plans",
"intends", "may", "might", "will", "would", "can", "could", "should" or, in each
case, their negative, or other variations or comparable terminology in
connection with any discussion of the timing or nature of future operating or
financial performance or other events.  These statements are based on
management's current plans, expectations, assumptions and beliefs concerning
future events impacting the Company and therefore involve a number of risks,
uncertainties and assumptions that could cause actual results to differ
materially from those expressed or implied in the forward-looking statements. 
Important factors that could cause actual results to differ materially from
those in the forward-looking statements include, but are not limited to: those
described under Item 3D, "Risk Factors" in the Company's Annual Report on Form
20-F for the year ended December 31, 2023, filed with the U.S. Securities and
Exchange Commission (the "SEC") on March 27, 2024, offshore drilling market
conditions including supply and demand, day rates, customer drilling programs
and effects of new or reactivated rigs on the market, contract awards and rig
mobilizations, contract backlog, dry-docking and other costs of maintenance,
special periodic surveys, upgrades and regulatory work for the drilling rigs in
the Company's fleet, the cost and timing of shipyard and other capital projects,
the performance of the drilling rigs in the Company's fleet, delay in payment or
disputes with customers, Seadrill's ability to successfully employ its drilling
units, procure or have access to financing, ability to comply with loan
covenants, fluctuations in the international price of oil, international
financial market conditions, inflation, changes in governmental regulations that
affect the Company or the operations of the Company's fleet, increased
competition in the offshore drilling industry, the review of competition
authorities, the impact of global economic conditions and global health threats,
pandemics and epidemics, our ability to maintain relationships with suppliers,
customers, employees and other third parties, our ability to maintain adequate
financing to support our business plans, our ability to successfully complete
and realize the intended benefits of any mergers, acquisitions and divestitures,
and the impact of other strategic transactions, our liquidity and the adequacy
of cash flows to satisfy our obligations, future activity under and in respect
of the Company's share repurchase program, our ability to satisfy (or timely
cure any noncompliance with) the continued listing requirements of the New York
Stock Exchange and the Oslo Stock Exchange, or other exchanges where our shares
may be listed, the cancellation of drilling contracts currently included in
reported contract backlog, losses on impairment of long-lived fixed assets,
shipyard, construction and other delays, the results of meetings of our
shareholders, political and other uncertainties, including those related to the
conflicts in Ukraine and the Middle East, and any related sanctions, the effect
and results of litigation, regulatory matters, settlements, audits, assessments
and contingencies, including any litigation related to acquisitions or
dispositions, our ability to successfully integrate with Aquadrill LLC following
its merger with the Company, the concentration of our revenues in certain
geographical jurisdictions, limitations on insurance coverage, our ability to
attract and retain skilled personnel on commercially reasonable terms, the level
of expected capital expenditures, our expected financing of such capital
expenditures and the timing and cost of completion of capital projects,
fluctuations in interest rates or exchange rates and currency devaluations
relating to foreign or U.S. monetary policy, tax matters, changes in tax laws,
treaties and regulations, tax assessments and liabilities for tax issues, legal
and regulatory matters in the jurisdictions in which we operate, customs and
environmental matters, the potential impacts on our business resulting from
decarbonization and emissions legislation and regulations, the impact on our
business from climate-change generally, the occurrence of cybersecurity
incidents, attacks or other breaches to our information technology systems,
including our rig operating systems, and other important factors described from
time to time in the reports filed or furnished by us with the SEC.   

The foregoing risks and uncertainties are beyond our ability to control, and in
many cases, we cannot predict the risks and uncertainties that could cause our
actual results to differ materially from those indicated by the forward-looking
statements. Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from those indicated. All subsequent written and oral forward-looking
statements attributable to us or to persons acting on our behalf are expressly
qualified in their entirety by reference to these risks and uncertainties. You
should not place undue reliance on forward-looking statements. Each
forward-looking statement speaks only as of the date of the particular
statement. We expressly disclaim any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statement to reflect
any change in our expectations or beliefs with regard to the statement or any
change in events, conditions or circumstances on which any forward-looking
statement is based, except as required by law.

Investors should note that we announce material financial information in SEC
filings, press releases and public conference calls. Based on guidance from the
SEC, we may use the Investors section of our website (www.seadrill.com) to
communicate with investors. It is possible that the financial and other
information posted there could be deemed to be material information. The
information on our website is not part of, and is not incorporated into, this
news release.

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

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