Seadrill Announces Updated Business Plan

Hamilton, Bermuda - December 16, 2017

On September 12, 2017, Seadrill Limited ("Seadrill" or the "Company") filed a Form 6K, attached to which as Exhibit 99-1 was a presentation which included the Company's business plan. In the ordinary course of business, Seadrill has prepared an updated business plan, which is attached hereto.

Also, on December 15, 2017, the Company filed a revised disclosure statement with the court overseeing its chapter 11 cases in the Southern District of Texas. The revised disclosure statement includes valuation and liquidation analyses prepared by the Company and its advisors and can be viewed at https://www.primeclerk.com/SeadrillAmendedDS.

This press release is not intended to be, and should not in any way be construed as, a solicitation of votes of bondholders or other investors regarding the chapter 11 plan.

Seadrill press release