Archer Limited: Key Information Relating to the Reverse Share Split and Change of ISIN

Hamilton, Bermuda (May 3, 2024)

Please note the following key information for the reverse share split:

• Reverse split ratio: twenty-five (25) old shares give one (1) new share
• Date on which the corporate action was made public: April 30, 2024
• Date of approval: April 30^th, 2024
• Last day including right: May 6^th, 2024
• Ex-date: May 7^th, 2024
• Record date: May 8^th, 2024

Following completion of the reverse share split, the par value of the Company's shares will be reduced from USD 0.25 to USD 0.01. This reduction will be recorded on or about May 7^th, 2024.  The reduction amount will be transferred the Company's contributed surplus account.

In connection with the reverse share split, Archer Limited's shares will be transferred to a new ISIN.

Please note the following key information for the change of ISIN:

• Issuer: Archer Limited
• Previous ISIN: BMG0451H1170
• New ISIN: BMG0451H2087
• Date of ISIN change: May 7^th, 2024

For additional information please contact:

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

Joachim Houeland, Manager Treasury & 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