PRESS RELEASE SHELF DRILLING SHARE CAPITAL INCREASEDubai ,14 November 2023 : Reference is made to the announcement byShelf Drilling, Ltd. ("Shelf Drilling " or the "Company", OSE: SHLF) on8 November 2023 regarding the resolution by the Company's board of directors to issue a total of 285,274 new common shares in the Company to the chairman of the board of directors and the other non-executive directors or the sponsor firm that such director represents as settlement of restricted stock units ("RSUs") under the Company's 2017 Long-Term Incentive Plan. Today, the new common shares have been legally and validly issued. Following such share issue, the issued share capital of the Company isUSD 2,136,909.17 , divided into 213,690,917 common shares, each with a par value ofUSD 0.01 . The authorised share capital of the Company isUSD 2,340,634.73 , divided into 234,063,473 shares, each with a par value ofUSD 0.01 . AboutShelf Drilling Shelf Drilling is a leading international shallow water offshore drilling contractor with rig operations acrossMiddle East ,Southeast Asia ,India ,West Africa , Mediterranean andNorth 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 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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