Archer awarded additional super-spec rig contract in Vaca Muerta

Hamilton, Bermuda (July 10, 2026)

Archer is pleased to announce the award of an additional five-year contract, with two one-year extension options, from YPF for a super-spec drilling rig to its Vaca Muerta fleet. The contract has an estimated value of approximately USD 90 million over the firm contract period and further strengthens Archer's long -term position in one of the world's most active unconventional shale developments.

The additional rig will be equipped with managed pressure drilling ("MPD") technology, supporting improved drilling efficiency, operational reliability and safety. It will be leased from Patterson-UTI and represents the third additional super-spec rig added to Archer's Vaca Muerta fleet as part of the Company's ongoing strategic growth plan. The first of the three rigs commenced operations in late June 2026, the second is expected to mobilize during July 2026, and the third is expected to commence operations during the first quarter of 2027.

Gerardo Molinaro, Vice President of Land Drilling at Archer, said:

"YPF continues to lead the development of Vaca Muerta, and Archer is committed to support that growth. The additional rig further strengthens our long-standing relationship with YPV and reinforces our commitment to operational excellence. By expanding our super-spec fleet with MPD capabilities, we continue to enhance drilling performance while delivering safe, efficient and reliable operations."

For additional information, please contact:

Espen Joranger, Chief Financial Officer - Mobile: +47 982 06 812, Email: espen.joranger@archerwell.com

Joachim Houeland, Manager Treasury and Investor Relations - Mobile: +47 482 78 748, Email: joachim.houeland@archerwell.com

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.