NOL: Contract extension for Deepsea Bollsta

31 October 2025 – Hamilton, Bermuda

Northern Ocean Ltd. (“NOL”) is pleased to announce an extension of the contract for Deepsea Bollsta with Equinor for drilling on Johan Sverdrup. In continuation of the initial 2 years firm term, the contract has now been extended by 5 months in order to complete an 8 well program for the Johan Sverdrup Unit. The contract still includes five one-year options available for Equinor following the extension.

For inquiries, please contact: Arne Jacobsen, Chief Executive Officer: +971 55 639 0860 Jonas Ytreland, Chief Financial Officer: +47 994 65 550