Archer Limited: Correction - Final results in the subsequent offering and allocation of shares

Hamilton, Bermuda (March 27, 2023)

Reference is made to the stock exchange announcement of March 27, 2023,16:46 (Id no. 586288).

The Company received valid subscriptions for 17,506,357 Offer Shares in the Subsequent Offering and a total of 17,506,357 Offer Shares will be allocated based on in accordance with the allocation criteria set out in the Prospectus.

Following the issue of the Offer Shares, the Company's issued share capital will be USD 7,850,649.69 divided in to 785,064,969 common shares, each with a par value of USD 0.01.

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