Archer Limited – New share capital registered
Hamilton, Bermuda (March 8, 2023) Reference is made to the stock exchange announcement made by Archer Limited (the "Company") on 7 March 2023 regarding the successful completion of a private placement (the "Private Placement") of 1,040,000,000 new common shares in the Company raising gross proceeds of the NOK equivalent of USD 100 million. The Private Placement is divided in two separate tranches, where the first tranche ("Tranche 1") consists of 618,800,000 new shares (the "Tranche 1 Shares") and the second tranche consists of the remaining 421,200,000 new shares in the Private