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

Oslo, Norway, April 9, 2026 Commercial update: In March 2026, the Company had 11 out of 11 rigs employed and rig utilization was 99%.

As of April 9, 2026, 100% of available rig days in April are contracted. The contracted backlog beyond April is approximately USD 24.8 million.

Based on our outlook for April, the Company expects to be able to increase its next monthly distribution subject to no material adverse development in market conditions.

Cash distribution:

The Board of Directors today approved a monthly cash distribution of approximately USD 1.5 million based on free cash flow for March 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 0.035 per share

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

Date of approval: April 9, 2026

Last day including right: April 13, 2026

Ex-date: April 14, 2026

Record date: April 15, 2026

Payment date: On or about April 22, 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