17 March 2025: The board of directors of Deep Value Driller AS ("DVD" or the
"Company") has received notice of exercise of 1,983,333 warrants by Harald
Moræus-Hanssen, acting through Uthalden AS, as granted to Mr. Moræus-Hanssen in
his capacity as one of the founding investors of DVD. Each warrant gives the
right to one share in DVD.

The exercise price for each warrant is NOK 1.75 per share. The exercise price is
based on the original exercise price of NOK 8.50, as adjusted for the total
amounts of dividends paid by DVD to its shareholders in the period from the date
of issuance of the warrants in March 2021 to the date of exercise of the
warrants (in aggregate NOK 6.75 per share), in accordance with the terms of the
warrant agreement entered into with DVD.

Following the exercise of warrants, Harald Moræus-Hanssen, including his close
associate, holds no outstanding warrants in DVD.

Pursuant to the warrant exercises, the Company's share capital will be increased
by NOK 198,333.30 through the issuance of 1,983,333 new shares, each with a par
value of NOK 0.10. Upon registration of the share capital increase, the
Company's share capital will be NOK 9,350,833.30 divided into 93,508,333 shares,
each with a par value of NOK 0.10. 

This information is subject to the disclosure requirements in section 5-12 of
the Norwegian Securities Trading Act and the Euronext Growth Rule Book Part II.

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.