PRESS RELEASE SHELF DRILLING PRIMARY INSIDER NOTIFICATIONDubai ,15 November 2020 : Reference is made to the announcement byShelf Drilling, Ltd. ("Shelf Drilling " or the "Company", OSE: SHLF) today, regarding the issuance of 40,863 new common shares in the Company to the chairman of the board of directors,Ernie Danner , without any consideration, as settlement of restricted stock units ("RSUs") under the Company's 2017 Long-Term Incentive Plan. Reference is also made to the announcement made byShelf Drilling, Ltd. on28 October 2020 , regarding the award of 179,727 new RSUs toMr. Danner , which were granted toMr. Danner on14 November 2020 . The new RSUs shall vest on the first anniversary from the date of grant and shall each be settled in exchange for one common share in the Company against no consideration, subject toMr. Danner's continued service with the Company. Following the issuance of the new common shares and award of new RSUs toMr. Danner , he holds 115,620 common shares in the Company and 179,727 RSUs. AboutShelf Drilling Shelf Drilling is a leading international shallow water offshore drilling contractor with rig operations acrossMiddle 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 investor.relations@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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