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

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

As of May 11, 2026, 100% of available rig days in May are contracted. The contracted backlog beyond May is approximately USD 16.6 million.

Cash distribution:

The Board of Directors today approved a monthly cash distribution of approximately USD 1.7 million based on free cash flow for April 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 0.04 per share

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

Date of approval: May 8, 2026

Last day including right: May 13, 2026

Ex-date: May 15, 2026

Record date: May 18, 2026

Payment date: On or about May 26, 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