Hamilton, Bermuda, September 13, 2020 - Certain of the new secured noteholders
(the "NSNs") approached Seadrill Limited (the "Company") to discuss the
possibility of extinguishing the outstanding NSNs in exchange for certain
secured collateral. The attached slides (the "Cleansing Materials") detail
certain proposals and counter-proposals between the Company and the NSNs since
August 30 2020. Discussions between the Company and the NSNs remain ongoing and
the description of the Cleansing Materials does not purport to be complete and
is qualified in its entirety by the complete text of the attached Cleansing
Materials. The Company does not undertake any obligation to publicly update the
information contained in the Cleansing Materials to reflect circumstances
existing after the date of this release or to reflect the occurrence of future
events, even in the event that any or all of the assumptions underlying the
information are shown to be in error.



FORWARD LOOKING STATEMENTS

This news release and the Cleansing Materials include forward looking
statements. Such statements are generally not historical in nature, and
specifically include statements about the Company's plans, strategies, business
prospects, changes and trends in its business, the markets in which it operates
and its restructuring efforts. These statements are made based upon management's
current plans, expectations, assumptions and beliefs concerning future events
impacting the Company and therefore involve a number of risks, uncertainties and
assumptions that could cause actual results to differ materially from those
expressed or implied in the forward-looking statements, which speak only as of
the date of this news release. Consequently, no forward-looking statement can be
guaranteed. When considering these forward-looking statements, you should keep
in mind the risks described from time to time in the Company's regulatory
filings and periodical reporting. The Company undertakes no obligation to update
any forward looking statements to reflect events or circumstances after the date
on which such statement is made or to reflect the occurrence of unanticipated
events. New factors emerge from time to time, and it is not possible for the
Company to predict all of these factors. Further, the Company cannot assess the
impact of each such factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially different from
those contained in any forward looking statement.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.



For further information, please contact:

Media questions should be directed to:

Iain Cracknell

Director of Communications

+44 (0)7765 221 812

Analyst questions should be directed to:

Hawthorn Advisors

seadrill@hawthornadvisors.com

+44 (0)203 7454960

seadrill@hawthornadvisors.com

020 3745 4960