Archer Limited: Archer’s Board of Directors appoints Dag Skindlo as CEO and Espen Joranger as CFO of Archer

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Hamilton, Bermuda (March 10, 2020)

Archer Limited is pleased to announce the appointment of Dag Skindlo as the Company's new Chief Executive Officer. Dag Skindlo joined Archer as Chief Financial Officer and EVP Strategy in May 2016.

Kjell-Erik Østdahl, Chairman of Archer, comments:

“I’m pleased that Dag will take on this challenge. We have had a thorough recruitment process where the Board has been looking for the best candidate to lead Archer going forward. Dag has a strong commercial track-record and has the best qualifications for delivering on our corporate strategy. He has been instrumental in delivering improvements in Archer since 2016 with an impressive development in margins and leverage ratio.”

Dag Skindlo, CEO of Archer comments:

“I look forward to leading Archer’s highly competent global workforce with a focus on delivering both customer and shareholder value. I firmly believe we have the team and resources to sustain our profitable growth in the years to come. Furthermore, I am delighted to announce that Espen Joranger has accepted the role as CFO. Espen has deep knowledge of the company, our businesses and the organization. This secures momentum and continuity from day one.”

Mr. Skindlo has worked 28 years in the oil and gas industry. He joined Schlumberger in 1992 where he held various financial and operational positions before he joined the Aker Group of companies in 2005, where he held global CFO roles and Managing Director roles for several large industrial divisions. Before joining Archer in 2016, Dag held the position as CEO for Aquamarine Subsea.

Mr. Joranger joined Archer in May 2013 as Finance Director North Sea Region and currently holds the position as Group Controller. Before joining Archer, he worked for Seadrill as Director of Financial Accounting and 8 years for Ernst & Young. Espen has 10 years’ experience from the Oil and Gas industry.

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