Notice of Q2 2022 Earnings Release and Presentation

Hamilton, Bermuda, August 02, 2022 - Seadrill Limited ("Seadrill” or “the Company") (XOAS: SDRL) announces that its Q2 2022 earnings will be published post market close on Wednesday August 31, 2022.

Seadrill’s executive management team will host a virtual presentation the following day (Thursday September 01, 2022) at 9:00am EST / 2:00pm BST / 3:00pm CET. Subsequent to the presentation, a Q&A session will be held exclusively for sell-side and industry analysts.

To tune into the live presentation, you may do so using the provided conference call and webcast details listed below. Please note that participation in the Q&A session will only be available to analysts dialled into the meeting via conference call. If dialling into the presentation via conference call, you will be able to download the presentation materials via the Company’s website: www.seadrill.com.

Conference call

To listen to the presentation via conference call, please join the call on the day by dialling one of the international telephone numbers listed below and using the corresponding pin: 612586

Webcast

To join to the presentation via webcast, please register for the event ahead of time by following this link: https://bit.ly/3PZxkVd

If you are unable to tune into the live session via conference call or webcast, a replay of the presentation will be made available soon after the event on the Investor Relations section of the website: www.seadrill.com/investors/.

About Seadrill

Seadrill is a leading offshore drilling contractor utilizing advanced technology to unlock oil and gas resources for clients across harsh and benign locations around the globe. Seadrill’s high-quality, technologically-advanced fleet spans all asset classes allowing its experienced crews to conduct operations from shallow to ultra-deep-water environments. The Company owns and/or operates 30 rigs, which includes drillships, semi-submersibles, and jack-ups.

FORWARD-LOOKING STATEMENTS

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 and the markets in which it operates. 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 regulatory filings and periodical reporting. 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 of the Norwegian Securities Trading Act.