Reference is made to the announcements made by Archer Limited ("Archer" or the
"Company") on 30 October 2024 and 31 October 2024 regarding the private
placement (the "Private Placement") of new shares in the Company ("Shares").

Prior to the Private Placement, Hemen Holding Ltd ("Hemen") held 13,287,181
Shares, representing 20.45% of the share capital and votes in the Company.
Pursuant to a share lending agreement effective on the same date, Hemen has lent
13,287,181 Shares, representing 20.45% of the total number of Shares to DNB
Markets, a part of DNB Bank ASA, as settlement agent, in order to facilitate
delivery versus payment settlement of Shares in Tranche 1 of the Private
Placement. Consequently, Hemen's shareholding in the Company will, upon lending
of such shares, temporarily cross below the 5% threshold, to nil, pursuant to
Section 4-2 (1) of the Norwegian Securities Trading Act.

The shares lent out will be redelivered to Hemen following settlement in Tranche
1 of the Private Placement following issuance and delivery of the new Shares in
tranche 1 of the Private Placement, and Hemen will at such time hold 13,287,181
Shares in the Company.  Due to the dilution caused by the issuance of the new
Shares in Tranche 1, the number of Shares held by Hemen will represent 16.93% of
the total number of shares and votes in Archer.

Hemen has furthermore subscribed for and been conditionally allocated 4,988,649
Shares in the Private Placement. Hemen has been allocated Shares in Tranche 2,
and the issuance and delivery of such shares are subject to approval by the
special general meeting in Archer.

Subject to, and following issuance and delivery of the new Shares pertaining to
Tranche 2 in the Private Placement, Hemen will hold 18,275,830 Shares in Archer,
equal to 20.45% of the share capital of Archer.  Hemen's ownership in Archer
following the transaction is unchanged.

For further information, please refer to the press releases regarding the
Private Placement announced by Archer on ticker "ARCH" on 30 October 2024 and 31
October 2024.

This information is subject to the disclosure requirements pursuant to section 4
-2 of the Norwegian Securities Trading Act.