NorAm Drilling AS - Issue of New Shares Following Option Exercise

Oslo, Norway, June 7, 2026

Further to the Company's announcement on 28 May 2026 regarding share option exercise by a PDMR, the Company will issue 40,000 new shares, pursuant to the Board's authorisation to issue new shares as granted on the Company's annual general meeting on 24 June 2025. Following the issue of the new shares, the Company's share capital will be NOK 86,715,914 consisting of 43,357,957 shares each with a par value of NOK 2.00.

Following the exercise of options, 980,000 options remain outstanding in the Company.

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