PRESS RELEASE SHELF DRILLING ANNOUNCES CLOSING OF SALE OF SHELF DRILLING JOURNEY JACK-UP RIGDubai ,February 25, 2021 - Reference is made to the announcement made onDecember 21, 2020 byShelf Drilling, Ltd. ("Shelf Drilling ", or the "Company", OSE: SHLF) concerning the sale of the Shelf Drilling Journey jack-up rig by one of its subsidiaries. The Company is pleased to announce that it has onFebruary 24, 2021 , completed the sale and delivery of the jack-up rig to ADNOC Drilling, a subsidiary of theAbu Dhabi National Oil Company (ADNOC) . AboutShelf Drilling Shelf Drilling is a leading international shallow water offshore drilling contractor with rig operations across theMiddle East ,Southeast Asia ,India ,West Africa and the Mediterranean.Shelf Drilling was founded in 2012 and has established itself as a leader within its industry through its fit-for-purpose strategy and close working relationship with industry leading clients. The company is incorporated under the laws of theCayman Islands with corporate headquarters inDubai, United Arab Emirates . The company is listed on theOslo Stock Exchange under the ticker "SHLF". Additional information aboutShelf Drilling can be found at www.shelfdrilling.com. Contact details For questions or comments, please contact communications@shelfdrilling.com. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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