NorAm Drilling AS – Monthly rig update and key information relating to the increased cash distribution for July 2026

Oslo, Norway, July 8, 2026 Commercial update: In June 2026, the Company had 11 out of 11 rigs employed and rig utilization was 97%.

As of July 8, 2026, 100% of available rig days in July are contracted. The contracted backlog beyond July is approximately USD 26.9 million, a significant increase from last month.

Cash distribution:

The Board of Directors today approved an increased monthly cash distribution of approximately USD 2.0 million based on free cash flow for June 2026. The distribution will be made from the Company's Contributed Surplus account which consists of previously paid in share premium transferred from the Company's Share Premium account.

Key information:

Distribution amount: USD 0.045 per share

Declared currency: USD. Payment to shares registered with Euronext VPS will be distributed in NOK

Date of approval: July 8, 2026

Last day including right: July 14, 2026

Ex-date: July 15, 2026

Record date: July 16, 2026

Payment date: On or about July 24, 2026

For further queries, please contact: Sander Borgli, Director of IR and Strategy Tel: +47 95455604

About NorAm Drilling NorAm Drilling owns and operates a portfolio of eleven advanced drilling rigs upgraded to maximize drilling efficiency in the Permian Basin in Texas, which is the largest oil producing region in North America. NorAm Drilling is debt free and has industry leading operating margins. The Company has a full pay-out dividend strategy, targeting frequent cash distributions in a profitable market.

www.noramdrilling.com