Oslo, 22 July 2025: Reference is made to the stock exchange announcements made by Dolphin Drilling AS (the "Company") on 30 May 2025 regarding the private placement of 29,764,440,000 new shares in the Company, raising gross proceeds of NOK 297,644,400, equal to approx. USD 29 million (the "Private Placement"), and on 17 June 2025 regarding the Company's extraordinary general meeting resolving to approve inter alia (i) the share capital decrease by reduction of the nominal value of the Company's shares, (ii) the issuance of new shares in the Private Placement, (iii) to grant the board of directors an authorisation to issue new shares as compensation to the pre-committing investors in the Private Placement, and (vi) issuance of new shares in connection with a proposed subsequent offering.

The share capital decrease by reduction of the par value of the Company's shares (item (i) above) and the share capital increase pertaining to the issuance of new shares in connection with the Private Placement (item (ii) above) have been registered with the Norwegian Register of Business Enterprises:

Share capital: NOK 300,563,300.99
Total number of shares: 30,056,330,099
Par value of each share: NOK 0.01

For further information, please contact:

Ingolf Gillesdal, CFO

Mob: +47 920 45 320

Mail: Ingolf.gillesdal@dolphindrilling.com

About Dolphin Drilling AS:

Dolphin Drilling AS is an Oslo listed, Aberdeen head-quartered, company which owns and operates a fleet of harsh environment mid-water & deep-water semisubmersible drilling rigs, capable of working worldwide.

This information is subject to disclosure under the Norwegian Securities Trading Act, §5-12. The information was submitted for publication at 2025-07-22 11:40 CEST.

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