NorAm Drilling AS - Monthly rig update and key information for November 2026

Oslo, Norway, November 10, 2026
 
Commercial update:
 
In October 2026, the Company had 11 out of 11 rigs employed and rig utilization
was 99%. 

As of November 10, 2026, 91% of available rig days in November are contracted.
One of our rigs will be transitioning to a pad to pad contract for a new
customer in mid-November with some days of scheduled downtime to perform
maintenance and modifications requested by the customer. Additionally, a second
rig will be released in mid-November, and we are actively marketing this rig in
the Permian Basin. The contracted backlog as of November 10, 2026 is USD 24.1
million. 

Cash distribution: 

The Board of Directors today approved a monthly cash distribution of
approximately USD 2.0 million based on free cash flow for October 2026. The
distribution will be made from the Company's Contributed Surplus account which
consists of previously paid in share premium transferred from the Company's
Share Premium account. 

Key information:

Distribution amount: USD 0.045 per share

Declared currency: USD. Payment to shares registered with Euronext VPS will be
distributed in NOK 

Date of approval: November 10, 2026

Last day including right: November 17, 2026

Ex-date: November 18, 2026

Record date: November 19, 2026

Payment date: On or about November 27, 2026

For further queries, please contact:
Sander Borgli, Director of IR and Strategy
Tel: +47 95455604
 

About NorAm Drilling
NorAm Drilling owns and operates a portfolio of eleven advanced drilling rigs
upgraded to maximize drilling efficiency in the Permian Basin in Texas, which is
the largest oil producing region in North America. NorAm Drilling is debt free
and has industry leading operating margins. The Company has a full pay-out
dividend strategy, targeting frequent cash distributions in a profitable market.


www.noramdrilling.com
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