SDRL - Seadrill Limited Board Changes

Hamilton, Bermuda, April 21 2020 – Seadrill Limited ("Seadrill" or the "Company") is pleased to announce that Bjarte Bøe will join the Board from April 21, 2020, replacing Birgitte Ringstad Vartdal who will step down following her recent appointment as Executive Vice President of European Wind and Solar at Statkraft.

Mr Bøe brings extensive experience serving on boards and audit committees of public companies, and has over thirty years of experience in the finance industry. He currently serves as a Director of the NYSE-listed Hermitage Offshore, and is a member of its Audit Committee. Mr Bøe sits on the Board of Agera Venture, a Norwegian Venture Capital company, and is a member of the Nomination Committee of BW Offshore Ltd. He also serves as the Chairman of the Investment Committee at SEB Venture Capital, a subsidiary of Skandinaviska Enskilda Banken AB (publ), or SEB, a Nordic financial services group, where from 1995 to 2019, he held a range of senior management positions. Mr Bøe holds an M.B.A. from the Norwegian School of Economics and Business Administration.

Glen Ole Rødland, Chairman commented: “I would like to sincerely thank Birgitte for the valuable insight, experience and contribution she has brought to the Board and Audit Committee of Seadrill since taking up these roles in 2018 following our restructuring. I wish her every success with her new appointment at Statkraft.

We warmly welcome Bjarte to the Seadrill Board.  His significant career in the financial sector, together with his public company directorship and board committee experience, complement a board and management focused on further developing Seadrill’s position as the leading offshore driller.


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. 333-224459). 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 to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act