SDRL - Change of ISIN and ticker for SDRL R Shares

Hamilton, Bermuda, 21 August 2018 - Seadrill Limited ("Seadrill" or the "Company") refers to the announcements dated 1 August 2018 and 3 August 2018 regarding the listing and trading of certain restricted shares under the ticker symbol "SDRL R" on the Oslo Stock Exchange.

The "SDRL R" shares are no longer subject to U.S. transfer restrictions and will trade under the ticker symbol "SDRL" (CUSIP: G7998G 106, ISIN: BMG7998G1069) on the Oslo Stock Exchange according to the time line below:

21 August 2018: The last day "SDRL R" shares will trade on the Oslo Stock Exchange under the ticker symbol "SDRL R" and ISIN BMG8000W1139.

22 August 2018: The first day "SDRL R" shares will trade under the ticker symbol "SDRL" (CUSIP: G7998G 106, ISIN: BMG7998G1069) on the Oslo Stock Exchange.

24 August 2018: The ISIN change for "SDRL R" shares is reflected in Norwegian Central Securities Depository (Verdipapirsentralen) (the "VPS").

 FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company's plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management's current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F (File No. 001-34667). The Company undertakes no obligation to update any forward looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward looking statement.

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