Oslo, Norway, August 25, 2025

As part of NorAm Drilling AS' (the "Company") long-term incentive plan, the
Company's Board of Directors has resolved to grant a total of 700,000 share
options to selected senior executives and Directors, including primary insiders.


The options will expire on 25 August 2030 and will vest in tranches with 1/3 of
the options vesting on 25 August 2026, 1/3 on 25 August 2027, and 1/3 on 25
August 2028. Any options not exercised by the expiry date will lapse without
compensation. 

The initial strike price for the options has been set to NOK 26.90 per share,
equal to the closing price on August 25, 2025, and will be adjusted for future
dividend payments. The new options granted to the CEO/CFO and the COO are
subject to a cap on maximum annual gain equal to two times the annual base
salary at the time of exercise of the options.

The following primary insiders have been granted options: 

o Marty L. Jimmerson, CEO and CFO, has been granted 170,000 share options.
Following the grant, he holds 320,000 options and 105,262 shares in the Company.

o Thomas Taylor, COO, has been granted 170,000 share options. Following the
grant, he holds 170,000 options and 196,414 shares in the Company.

o Steve Scott, Director of Business Development, has been granted 100,000 share
options. Following the grant, he holds 160,000 options and 21,563 shares in the
Company.

o Marius Furuly, Director of IR and Strategy, has been granted 80,000 share
options. Following the grant, he holds 120,000 options and 18,108 shares in the
Company.

o Ole B. Hjertaker, Chairman, has been granted 80,000 share options. Following
the grant, he holds 180,000 options and indirectly 223,138 shares in the
Company.

o Chris Baker, Director, has been granted 50,000 share options. Following the
grant, he holds 100,000 options in the Company.

o Jan Erik Klepsland, Director, has been granted 50,000 share options. Following
the grant, he holds 50,000 options  in the Company.

For further information, please refer to the attached document.

This information is subject to the disclosure requirements pursuant to article
19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian
Securities Trading Act.

For further queries, please contact:
Marius Furuly, Director of IR and Strategy
Tel: +47 90626191 


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