Dolphin Drilling AS – update on Blackford Dolphin and earlier announced notice of contract termination in Nigeria

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Oslo, 10 May 2024

Dolphin Drilling AS (the "Company") (ticker code: DDRIL) refers to the announcement on 30 April 2024 regarding the termination of the drilling contract in Nigeria. Further to the notice of termination to General Hydrocarbons Limited (“GHL”), a Nigerian oil and gas company, in respect of a contract for the Blackford Dolphin rig, the Company has filed a Request for Arbitration to pursue the recovery of sums remaining due by GHL.

The termination of the contract is disputed by GHL. GHL have also filed a Request for Arbitration and, additionally, have made an application to the Nigerian courts for an interim injunction seeking to maintain status quo, pending the appointment of an arbitrator. The Company is, together with its external counsel in Nigeria, immediately taking steps to oppose the interim injunction before the Nigerian courts.

The Company will continue to update the market on any material developments in the arbitration and court processes.

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