NOL: Contract award for Deepsea Mira

2 October 2026 – Hamilton, Bermuda

Northern Ocean Ltd. ("NOL") is pleased to announce the signing of a contract with a subsidiary of Shell plc ("Shell") for the Deepsea Mira, with operations expected to commence in April 2027.

The firm term covers a programme in Trinidad and Tobago and the wider Caribbean with an estimated duration of 150 days. The contract also includes an optional one-year programme in the region.

The total contract value for the firm term is approximately USD 70 million, increasing to approximately USD 226 million if the optional programme is included. The contract values include mobilisation and demobilisation fees.

Arne Jacobsen, Chief Executive Officer of NOL, commented: "This award secures firm work for the Deepsea Mira in a new region and extends our relationship with Shell beyond Namibia. Together with our operating partner Odfjell Drilling, we look forward to supporting Shell's development plans in Trinidad and Tobago and the wider Caribbean with safe and efficient operations."

For inquiries, please contact: Arne Jacobsen, Chief Executive Officer: +971 55 639 0860 Jonas Ytreland, Chief Financial Officer: +47 994 65 550