SHELF DRILLING ANNUAL REPORT 2023

Dubai, March 15, 2024: Reference is made to the stock exchange announcement
dated March 4, 2024, regarding the 2023 financial results for Shelf Drilling,
Ltd. ("Shelf Drilling" and, together with its subsidiaries, the "Company", OSE:
SHLF). Please find attached the Company's 2023 Annual Report as approved by the
Board of Directors on March 4, 2024, along with the completion and publication
of the Company's consolidated financial statements for 2023. Please note, any
market commentary in the 2023 Annual Report is as of March 4, 2024, or earlier
if explicitly stated. As such, the 2023 Annual Report does not reflect any
market events or changes after March 4, 2024.

For further queries, please contact:
Greg O'Brien, Executive Vice President and Chief Financial Officer
Shelf Drilling, Ltd.
Tel.: +971 4567 3616
Email: greg.obrien@shelfdrilling.com

About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across Middle East, Southeast Asia, India, West
Africa, Mediterranean and North Sea. 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 the Cayman Islands with corporate
headquarters in Dubai, United Arab Emirates. The company is listed on the Oslo
Stock Exchange under the ticker "SHLF".

Additional information about Shelf Drilling can be found at
www.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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© Oslo Bors ASA, source Oslo Stock Exchange