On 8 May 2024, Elliott International L.P., Elliott Associates L.P. and The
Liverpool Limited Partnership have sold common shares and cash settled equity
swaps in Seadrill Limited (NYSE & OSE: SDRL) ("Seadrill" or the "Company"),
resulting in crossing below the disclosure threshold.
Elliott International L.P., Elliott Associates L.P. and The Liverpool Limited
Partnership are funds managed and advised by Elliott Investment Management L.P.,
a registered investment adviser with the U.S. Securities and Exchange
Commission. The general partner of Elliott Investment Management L.P. is Elliott
Investment Management GP LLC. Paul E. Singer is the sole managing member of
Elliott Investment Management GP LLC.
Following the sale, funds managed and advised by Elliott Investment Management
L.P. have the following ownership interest in Seadrill:
o Elliott International L.P. holds 3,517,643 common shares and cash settled
equity swaps equivalent to 2,703,406 common shares in Seadrill, which
constitutes a total ownership of 6,221,643 common shares which represents
approx. 8.39 % of Seadrill's share capital.
o Elliott Associates L.P. holds cash settled equity swaps equivalent to 594,575
common shares in Seadrill, which represents approx. 0.80 % of Seadrill's share
capital.
o The Liverpool Limited Partnership holds 1,580,390 common shares and cash
settled equity swaps equivalent to 620,000 common shares in Seadrill, which
constitutes a total ownership of 2,200,390 common shares which represents
approx. 2.97 % of Seadrill's share capital.
As a result of the sale (i) Elliott International L.P. holds 3,517,643 common
shares in Seadrill which represents 4.75 % of the votes (and thus crossing below
the 5 % disclosure threshold) and (ii) the total aggregate ownership interest of
Elliott International L.P., Elliott Associates L.P. and the Liverpool Limited
Partnership are 9,016,014 common shares in Seadrill, which represents 12.17 % of
Seadrill's share capital and votes.
This disclosure is made pursuant to section 4-2, cf. section 4-3, of the
Norwegian Securities Trading Act.