Archer Limited: Minutes from Special General Meeting

Hamilton, Bermuda (November 13, 2024)

Archer Limited (the “Company”) advises that a Special General Meeting of the Shareholders of the Company was held on November 13, 2024, at 09:00 hrs, at 14 Par-la-Ville Road, Hamilton, HM08, Bermuda ("Meeting").  At the Meeting, the shareholders resolved that the Company's authorized share capital shall be increased from USD 800,000 divided into 80,000,000 common shares of USD 0.01 par value each to USD 1,500,000 divided into 150,000,000 common shares of USD 0.01 par value each, by the authorization of an additional 70,000,000 common shares of USD 0.01 par value each.