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

Oslo, Norway, February 10, 2026 Commercial update: In January 2026, the Company had 10 out of 11 rigs employed and rig utilization was 88%.

As of February 10, 2026, approximately 82% of available rig days in February are contracted. 9 out of 11 rigs are currently under contract and working. The remaining two rigs are actively being marketed. The contracted backlog beyond February is approximately USD 21.3 million.

Cash distribution:

The Board of Directors today approved a monthly cash distribution of approximately USD 1.3 million based on free cash flow for January 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 0.03 per share

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

Date of approval: February 10, 2026

Last day including right: February 16, 2026

Ex-date: February 17, 2026

Record date: February 18, 2026

Payment date: On or about February 25, 2026

For further queries, please contact: Marius Furuly, Director of IR and Strategy Tel: +47 90626191

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