Hamilton, Bermuda (February 2, 2026)

Archer Limited ("Archer") provides a trading update for Q4 and full year 2025 and presents its financial outlook for 2026.

During 2025, Archer delivered resilient performance in a more challenging market, achieving EBITDA growth, expanded margins, and a strengthened financial position through operational excellence, successful bond refinancing, improved backlog, strategic M&A activity, and disciplined capital allocation.

Transition to IFRS Reporting

Effective from Q4 2025, Archer will transition from US GAAP to IFRS reporting standards, The transition aligns the company with the majority of issuers on the Oslo Stock Exchange.

2025 Operational and Strategic Highlights

Archer delivered a solid year in 2025, growing EBITDA by 12% YoY and achieving an average annual EBITDA growth rate of approximately 21% since 2022.  This growth was driven by higher activity levels, improved margins, and continued strategic focus on core markets. Notably, Archer achieved 2025 growth despite muted market development in Argentina, the US and in the UK..

Key milestones in 2025 include:

• EBITDA growth: EBITDA grew by 12% in 2025 versus the prior year reflecting operational improvements and stronger profitability across key segments.
• Refinancing: Completed a USD 425m senior secured bond refinancing early in 2025, which extends our debt maturity to 2030, reduced our cost of debt, and strengthens liquidity.
• Shareholder distribution initiated: Archer's first shareholder return program was launched with quarterly cash distributions from Q2 2025 at an approximate 11% yield.
• Strategic acquisitions: Archer's P&A capabilities and international reach were strengthened through the USD 20 million acquisition of US-based Premium Oilfield Services. A smaller bolt-on acquisition of WellConnection further streamlined drill pipe inspection and repair services in Norway.
• Contract wins and strengthened P&A leadership:  Several significant long-term P&A and platform drilling contracts were secured, including major awards with NEO Next and Equinor. These wins further elevate our position as a leading P&A provider and underpin strong momentum and growth into 2026 and beyond.
• Expanded drilling capacity in Vaca Muerta: Archer's Land Drilling division secured a 5-year, USD 600 million drilling services contract with YPF for 7 high-spec rigs in Argentina's Vaca Muerta shale play. This significantly strengthens our operational presence and market position in the region.
• Portfolio streamlining: Archer completed the sale of its Argentinian workover business in January 2026, enabling strategic focus on the growing Vaca Muerta business.

2025 Financial Highlights

• Full-year IFRS EBITDA: USD 166.5 million, up 12% year-over-year
• Full-year US GAAP EBITDA: USD 149 million, in line with mid-point guidance
• Q4 IFRS EBITDA: USD 44.5 million, up 14% year-over-year
• Backlog including options of USD 4.0 billion at year end
• Net interest-bearing debt: USD 426 million at year-end

Outlook for 2026

Archer enters 2026 with a solid backlog of approximately USD 4.0 billion including options, giving strong visibility across all major business areas. Activity is expected to build through the year, with a significantly stronger second half as multiple new projects transition into full operations.

The divestment of the workover business in southern Argentina enables Archer to sharpen its portfolio and focus capital on higher-return opportunities. In Vaca Muerta, the newly awarded five-year, USD 600 million drilling contract with YPF-supported by two high-spec rigs leased from Patterson-UTI-expands operational scale and strengthens long-term revenue visibility.

Well Services remains a key growth engine, delivering around 20% annual EBITDA growth since 2017. With new technologies, contract wins and continued market momentum, the segment is well-positioned for further progress in 2026. Platform Operations is expected to see somewhat lower activity following contract roll-offs, but remains supported by stable demand for core services.

Several additional projects-including integrated P&A work in the North Sea, P&A units and new rig mobilizations-are set to begin during 2026, contributing to a more favourable revenue mix. Growth investments will be temporarily elevated as Archer builds and deploys equipment for these multi-year contracts, with returns expected to contribute meaningful, recurring cash flow in the following years. Together with increased activity in the second half, this supports continued earnings growth and higher shareholder distributions from late 2026.

2026 Guidance

• EBITDA growth: single digit growth over 2025.
• Capex: 6-7% of revenue
• Shareholder distributions: Earnings growth supports increased shareholder distributions in second half of 2026

Conference call Monday February 2nd at 9:00 CET

Archer will host a conference call at 9:00 am CET on February 2nd, 2026. To follow the presentation, the following options are available:

A. Webcast

To register for the webcast please go to https://events.q4inc.com/attendee/948956964

B. Conference call

To access the call, which is open to the public, please dial in at the participant telephone numbers listed below. Please call in 10 minutes prior to the scheduled start time and ask for the "Archer Q4 2025 Trading Update and 2026 Outlook Presentation".

Participants dial-in:

• United States +1 646 233 4753
• Germany +49 32 221098334
• All other locations:  +44 20 3936 2999

Access code: 565036

The operator will ask for your name and company. Following the presentation there will be a Q&A session. Information on how to ask questions will be given at the beginning of the Q&A session.

For further information, please contact:

Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email: espen.joranger@archerwell.com

Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78 748, Email: Joachim.houeland@archerwell.com

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