Archer Limited: Archer’s acquisition of Baker Hughes’ Coil Tubing and Pumping business in the UK is approved by the UK CMA

Hamilton, Bermuda (March 2, 2023)

Reference is made to the announcement on February 8, 2023, wherein Archer announced the acquisition of Baker Hughes’ Coil Tubing and Pumping business in the UK (the “Transaction”), subject to the approval by the UK Competition and Markets Authority (the “CMA”).

Archer is pleased to announce that the CMA has approved the Transaction and final closing will occur in early April 2023.

For additional information, please contact:

Dag Skindlo, Chief Executive Officer, Mobile:+4798226624, Email: [email protected]

Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email: [email protected]

Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78 748, Email: [email protected]

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