Archer Limited: Approval and publication of listing prospectus

Reference is made to the stock exchange announcement made by Archer Limited (the "Company") on 31 October 2024 regarding the successful private placement (the "Private Placement") of 24,393,100 new common shares in the Company. Reference is further made to the stock exchange announcement made on 14 November 2024 regarding the issuance of 1,174,436 new common shares in the Company (the "Consideration Shares") to enable settlement of the Company's acquisition of an additional 10% of the shares in Iceland Drilling.

A prospectus for the listing of (i) 518,718 of the new shares issued in the first tranche of the Private Placement; (ii) the 10,880,263 new shares issued in the second tranche of the Private Placement; and (iii) the 1,174,436 Consideration Shares, was approved by the Norwegian Financial Supervisory Authority today. The aforementioned in total 12,573,417 shares, which were issued on separate ISIN in connection with the Private Placement and the Iceland Drilling transaction, will accordingly be transferred to the Company's ordinary ISIN.

The prospectus will be available on the Company's website www.archerwell.com.

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