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Regulatoriskt pressmeddelande

SHLF: Shelf Drilling Annual Report 2021

Shelf Drilling
Dubai, March 4, 2022: Reference is made to the stock exchange announcement dated
February 28, 2022 regarding the 2021 financial results for Shelf Drilling, Ltd.
("Shelf Drilling" and, together with its subsidiaries, the "Company", OSE:
SHLF). Please find attached the Company's 2021 Annual Report as approved by the
Board of Directors on February 28, 2022 along with the completion and
publication of the Company's consolidated financial statements for 2021. Please
note, any market commentary in the 2021 Annual Report is as at February 28, 2022
or earlier if explicitly stated. As such, the 2021 Annual Report does not
reflect any market events or changes after February 28, 2022.

For further queries, please contact:
Greg O'Brien, Executive Vice President and Chief Financial Officer
Shelf Drilling, Ltd.
Tel.: +971 4567 3616
Email: greg.obrien@shelfdrilling.com

About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across Middle East, Southeast Asia, India, West
Africa and the Mediterranean. Shelf Drilling was founded in 2012 and has
established itself as a leader within its industry through its fit-for-purpose
strategy and close working relationship with industry leading clients. The
Company is incorporated under the laws of the Cayman Islands with corporate
headquarters in Dubai, United Arab Emirates. The Company is listed on the Oslo
Stock Exchange under the ticker "SHLF".

Additional information about Shelf Drilling can be found at
www.shelfdrilling.com.

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