Dolphin Drilling AS – First quarter 2024 financial results

(Oslo, 29 May 2024) Dolphin Drilling AS (Dolphin Drilling, OSE: DDRIL) today announced its unaudited results for the three months ended 31 March

2024. The highlights and subsequent events include:

• Operating revenues of USD 10.1 million, EBITDA of USD (17.0) million, and earnings per share of USD (0.08)
• Seamless integration of Paul B Loyd, Jr., on contract for Harbour Energy Ltd in the UK
• New contract with Oil India for Blackford Dolphin
• Reactivation and scheduled yard-stay underway for Borgland Dolphin. The rig’s next contract is with EnQuest Ltd in the UK
• Sale of Bideford Dolphin with proceeds of USD 4.1 million
• Granted permission to appeal the legacy UK tax case
• Dolphin continues to contest its position in Nigeria with outcomes still pending as of reporting day. The company will continue to update the market on any material developments in the arbitration and court processes as they occur

The Board of Directors report and the first quarter 2024 presentation are enclosed.

The results will be presented on 29 May 2024 through an audiocast starting 15:00 CET. The presentation will be held by CEO Bjørnar Iversen and CFO Stephen Cox.

Link to Q1 audiocast:

https://channel.royalcast.com/landingpage/hegnarmedia/20240529_2/

Participants may also visit the Investor Relations section of the company's website at www.dolphindrilling.com and click on the link to "Webcast". There will be a Q&A session following the presentation. Written questions can be submitted through the audiocast solution during the presentation, or by email to Ingolf.gillesdal@dolphindrilling.com in advance.

For further information, please contact:

Ingolf Gillesdal, Corporate Finance and Investor Relations, tel: +47 920 45 320

Stephen Cox, CFO, tel: +44 7800 612 130

Dolphin Drilling | www.dolphindrilling.com

Dolphin Drilling is a leading harsh environment drilling contractor for the offshore oil and gas industry. Dolphin Drilling owns a fleet of three high technical standard 4th and 5th generation enhanced Aker H3 and H4 units, Borgland Dolphin, Blackford Dolphin, and Paul B. Loyd, Jr. operated by an experienced team with a strong operational track record. The company has offshore and onshore offices and operations in Norway, Scotland, Brazil, and Nigeria.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Ingolf Gillesdal, VP Corporate Finance and Investor Relations Dolphin Drilling AS on 29 May 2024 at the time set out in this notice on behalf of the company.