Archer Limited – Disclosure of large shareholdings

Reference is made to the stock exchange announcement made by Archer Limited (the "Company") on 20 April 2023 regarding the issuance of 208,000,000 new common shares of the Company (the "Conversion Shares") in connection with the conversion of the group's convertible loan (the "Convertible Loan").

The 208,000,000 Conversion Shares have been received by Paratus JU Newco Bermuda Limited ("Paratus"), being the lender under the Convertible Loan. Following receipt of the Conversion Shares, Paratus holds a total of 392,305,324 shares in the Company, representing 27.7% of the total number of shares and voting rights in the Company.

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