Archer Limited – Disclosure of large shareholding

Reference is made to the stock exchange announcement made by Archer Limited ("Archer") on 20 April 2023 announcing Archer's new share capital following the issuance of 208,000,000 new common shares in Archer in connection with the conversion of a convertible loan (the "Conversion Shares").

As a result of the issuance of the Conversion Shares, the relative share ownership of Hemen Holding Ltd. ("Hemen") in Archer has been reduced below the 20% disclosure threshold. Hemen currently holds a total of 280,179,529 shares in Archer, representing 19.81% of the total number of shares and voting rights in Archer. 279,179,529 of these shares, equal to 19.74% of the shares and votes in Archer, are held directly by Hemen, while the remaining 1,000,000 shares and votes, equal to 0.07% of the shares in Archer, are shares that have been lent out by Hemen. 

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