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Hamilton, Bermuda - December 17, 2024 Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) today announced the ultra-deepwater drillship, West Tellus, was awarded a 1,095-day contract for the Sepia and Atapu fields in the Santos Basin, offshore Brazil, following a competitive tender process. The contract, awarded by Petrobras, will contribute approximately $498 million to Seadrill's order backlog, including additional services and excluding a mobilization fee of $41 million. The program is expected to commence in the first quarter of 2026 and includes an optional period of up to 305 additional days. Petrobras holds a 65.7% stake in the shared Atapu field, a 55.3% stake in the shared Sepia field and is the Operator in both areas. "This contract and the recently announced award for West Jupiter deepens our relationship with a key customer at the heart of the deepwater market," said President and Chief Executive Officer, Simon Johnson. "These fixtures provide approximately $1 billion of additional backlog and a meaningful uplift to earnings and free cash flow beginning in 2026." Seadrill Announces Brazil Contract Award for West Jupiter Hamilton, Bermuda - December 17, 2024 Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) today announced the ultra-deepwater drillship, West Jupiter , was awarded a 1,095-day contract in Brazil following a competitive tender process. The contract, awarded by Petrobras, will contribute approximately $493 million to Seadrill's order backlog, including additional services and excluding a mobilization fee of $31.5 million. The program is expected to commence in the first quarter of 2026. "Seadrill is pleased to have successfully re-contracted the West Jupiter with Petrobras. We were recognized as 'Drilling Contractor of the Year' by Petrobras earlier in 2024 and we look forward to continuing our successful relationship with this key customer," said President and Chief Executive Officer, Simon Johnson. "With six drillships in Brazil, Seadrill is well-positioned in a resilient deepwater market with industry leading contract durations providing unparalleled visibility to Seadrill's future earnings profile." About Seadrill Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com. Seadrill press release 
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