Odfjell Drilling Ltd. Reports for the Fourth Quarter of 2025 and Preliminary Results for the Financial Year Ended 31 December 2025

Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling AS commented: “In 2025, Odfjell Drilling completed its SPS program, expanded its fleet, completed a major refinancing, secured new contracts, and beat operational and financial records quarter after quarter. To say we have had a busy year would be an understatement. I am proud of what we achieved last year, yet we can’t allow ourselves to become complacent. We will continue to push ourselves to maintain our leading position in the harsh environment market. "The acquisition of Deepsea Bollsta was a standout moment for the Group. The deal added a fantastic unit with good backlog, limited capex requirements and low operational risk, whilst further cementing our market position in Norway.

"2025 was a great year for our business and we are excited about what lies ahead.

Q4 Highlights: SUCCESSFULLY COMPLETED RIG ACQUISITION AND REFINANCING • Purchased Deepsea Bollsta for USD 480 million; effective date of 15 December 2025 • Added an estimated USD 100 million in annual EBITDA with limited capex going forward • Refinanced debt facilities at lower cost, improving flexibility and extending final maturities until 2031 • New USD 650 million bond secured with coupon of 7.25% • Entered into bank facilities totalling USD 550 million of which USD 300 million is structured as revolving credit facilities

NEARLY USD 1 BILLION OF FIRM ORDER BACKLOG ADDED • Added contract backlog secured with Equinor for use of the Deepsea Bollsta until 2028 • Contract extension agreed with Aker BP for use of the Deepsea Nordkapp until 2028 • Extension of contract secured on Deepsea Aberdeen, extending its firm contract coverage until 2029

STRONG OPERATIONAL PERFORMANCE AND FINANCIAL RESULTS • 98% Financial utilisation, adding to the Group's 10-year average of 97% financial utilisation • Revenue of USD 245 million • EBITDA of USD 124 million, inclusive of USD 4 million contribution from Deepsea Bollsta from mid-December • Net profit of USD 45 million, impacted by USD 18 million in costs expensed in relation to the refinancing

DIVIDEND INCREASED • Dividend increased to 23 cents per share from 20 cents per share • Total Q4 dividend of USD 55 million

Chief Executive Officer Odfjell Drilling AS Kjetil Gjersdal, Chief Financial Officer Odfjell Drilling AS Ørjan Lunde and Investor Relations Officer James Crothers will be hosting a webcast and Q&A session at 2:00pm CET to discuss the results. Stakeholders can either use the following link for the webcast or listen via telephone using the details below.

Webcast details: https://brrmedia.news/ODFDR_Q4

Conference call: Dial in number(s) Norway Toll Free: 800 19 458 UK-Wide: +44 (0) 33 0551 0200 UK Toll Free: 0808 109 0700 Password (if prompted) Please quote ’Odfjell Drilling Q4’ when prompted by the operator

For further queries, please contact: James Crothers, Investor Relations Officer +44 (0) 7495 067 684 jchu@odfjelldrilling.com London, United Kingdom 25 February 2026 Odfjell Drilling Ltd

This information is published in accordance with the requirements of the Oslo Børs Rule Book II section 4.2.4 (1) no. 3 and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.