Oslo, 17 February 2026: Reference is made to the stock exchange announcement
made by Deep Value Driller AS ("DVD" or the "Company", and together with its
subsidiaries, the "Group") on 29 December 2025 regarding extension of the
Company's Amended Bareboat Charter with Saipem and extension of Saipem's
exercise period for the purchase option (the "Purchase Option") to acquire the
Group's 7th generation mobile offshore drilling vessel "Deep Value Driller" (the
"Drillship").

DVD is today pleased to announce an agreement to sell the Drillship to Saipem
for a total purchase price of USD 272.5 million payable in cash (the
"Transaction").

After an assessment of available options and acknowledging that Saipem was not
going to exercise the Purchase Option at the original terms, the Board of
Directors of the Company believes that this agreement with Saipem provides the
most favourable outcome for the Company's shareholders.

Completion of the Transaction with delivery of the Drillship is expected to take
place sometime prior to expiry of the existing bareboat charter arrangement on
31 July 2026 ("Closing"), subject to customary Closing conditions, as well as
final board approvals by the board of Saipem and the board of DVD, to be lifted
within 25 February 2026. The existing bareboat charter arrangement with Saipem
will remain in place until Closing occur, and charter hire will remain payable
until 31 July 2026. 

Following board approvals of the Transaction, DVD aims to continue to pay
monthly dividend from March 2026 until the end of the bareboat charter where the
intention is to distribute the net proceeds from the sale of the rig to the
shareholders.

SB1 Markets AS is acting as financial adviser to DVD, and Wikborg Rein
Advokatfirma AS is acting as legal adviser in connection with the transaction. 

For further information, please contact: 

Svend Anton Maier, CEO 
+47 41 42 71 29 
sam@deepvaluedriller.no 

Einar J. Greve, Chairman of the Board 
+41 79 644 77 66 
ejg@cipriano.no

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. The information was
submitted for publication by CEO Svend Anton Maier at the date and time set out
herein, on behalf of the Company.

About Deep Value Driller

Deep Value Driller AS is a drillship-owning company which owns the high
specification UDW 7th generation drillship "Deep Value Driller", built in 2014.
As part of its strategy, the Company has an ambition to create and maximise
value for its customers and investors, while at the same time ensuring safe and
sustainable operation of its drillship. For further information, visit
www.deepvaluedriller.no.

Forward Looking Statements

All statements in this press release other than statements of historical fact
are forward-looking statements, which are subject to a number of risks,
uncertainties and assumptions that are difficult to predict and are based upon
assumptions as to future events that may not prove accurate. Actual results may
differ materially from those expected or projected in the forward-looking
statements. The Company undertakes no responsibility or obligation to update or
alter forward-looking statements for any reason.