Oslo, Norway, December 9, 2025
 
Commercial update:
 
In November 2025, the Company had 9 out of 11 rigs employed and rig utilization
was 79%.

As of December 9, 2025, approximately 87% of available rig days in December are
contracted. One of our two stacked rigs is expected to commence operations mid
December. The remaining stacked rig is being actively marketed. The contracted
backlog beyond December is approximately USD 16.4 million. 

Cash distribution: 

The Board of Directors today approved a monthly cash distribution of
approximately USD 1.3 million based on free cash flow for November 2025. The
distribution will be made from the Company's Contributed Surplus account which
consists of previously paid in share premium transferred from the Company's
Share Premium account.

Key information:

Distribution amount: USD 0.03 per share

Declared currency: USD. Payment to shares registered with Euronext VPS will be
distributed in NOK

Date of approval: December 9, 2025

Last day including right: December 15, 2025

Ex-date: December 16, 2025

Record date: December 17, 2025

Payment date: On or about December 23, 2025

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