SDRL - Settlement of Debt-for-Equity Exchange

Hamilton, Bermuda, June 14, 2016 - Seadrill Limited confirms that the issuance of new shares of its common stock announced on June 9, 2016, was settled on June 13, 2016. The 7,500,000 new shares have been issued and registered, and the new issued share capital of Seadrill amounts to US$1.017 billion, represented by 508,444,280 shares of its common stock issued and outstanding.

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