Shelf Drilling: Approval and Publication of the Admission Prospectus

PRESS RELEASE

SHELF DRILLING, LTD. – APPROVAL AND PUBLICATION OF THE ADMISSION PROSPECTUS

Dubai, 5th August 2022 – Reference is made to the announcement made by Shelf Drilling, Ltd. (“Shelf Drilling” or the “Company”, OSE: SHLF) on June 23, 2022 regarding the successful completion of a private placement. 11,156,568 of the common shares delivered under the private placement were borrowed from LR-Shelf Drilling International, LP

The borrowed shares were then returned in the form of newly issued unlisted common stock. In order for these Common Shares to become tradable, the Company has prepared a listing prospectus.

The Financial Supervisory Authority of Norway has today approved the listing prospectus for the listing of 11,156,568 ordinary shares, in the form of certificates of deposit, on Oslo Børs.

The prospectus can be downloaded electronically from the Shelf Drilling website (https://www.shelfdrilling.com/investor-relations/). The prospectus has been prepared for the sole purpose of listing new certificates of deposit. Accordingly, no securities are being offered under the Prospectus.

About Shelf Drilling

Shelf Drilling is a leading international shallow water offshore drilling contractor with drilling operations in the Middle East, South East Asia, India, West Africa and the Mediterranean. Shelf Drilling was founded in 2012 and has established itself as a leader in its industry through its tailored strategy and close working relationships with industry-leading clients. The company is incorporated under the laws of the Cayman Islands and its head office is located in Dubai, United Arab Emirates. The Company is listed on the Oslo Stock Exchange under the symbol “SHLF”.

Additional information about Shelf Drilling is available at www.shelfdrilling.com.

Contact Details

For questions or comments, please contact [email protected]

This information is subject to the disclosure requirements in accordance with Section 5-12 of the Norwegian Securities Act. This stock announcement was posted by Prerna Nandwani, Corporate Communications Manager at Shelf Drilling, Ltd on August 5, 2022 at 10:54 a.m. (CEST).

Jacob L. Thornton