Hamilton, Bermuda, September 25, 2023 - Seadrill Limited ("Seadrill" or the
"Company" (NYSE & OSE: SDRL) initiated a share repurchase program September 12,
2023 to repurchase up to $250 million of the Company's common shares in open
market transactions on the OSE and NYSE through March 31, 2024 pursuant to an
agreement with Arctic Securities AS and its subsidiary, Arctic Securities LLC
("Arctic").

For the period from and including September 18 through 22, 2023, Seadrill
purchased a total of 423,064 shares at an average price of $46.28 per share. The
transactions effected through the agreement with Arctic comprise all the
transactions effected by or on behalf of Seadrill Limited during the period.

Transaction overview
        Date          Trading  Aggregated daily   Weighted average   Total daily
                       Venue   volume (number of  share price (USD)  transaction
                                    shares)                          value (USD)
   18 Sept. 2023        OSE          8,814              48.10          423,915
   18 Sept. 2023       NYSE         51,000              47.86         2,440,697
   19 Sept. 2023        OSE          7,135              47.80          341,063
   19 Sept. 2023       NYSE         45,948              46.84         2,152,126
   20 Sept. 2023        OSE         13,062              46.95          613,313
   20 Sept. 2023       NYSE         112,000             46.85         5,247,211
   21 Sept. 2023        OSE         14,908              46.13          687,730
   21 Sept. 2023       NYSE         42,500              45.78         1,945,663
   22 Sept. 2023        OSE         16,050              45.54          730,909
   22 Sept. 2023       NYSE         111,647             44.77         4,998,057
    Period total        OSE         59,969              46.64         2,796,929
                       NYSE         363,095             46.22        16,783,754
                       Total        423,064             46.28        19,580,683
Previously disclosed    OSE         60,021              47.54         2,853,645
totals (accumulated)
                       NYSE         294,746             47.99        14,144,354
                       Total        354,767             47.91        16,997,999
   Program total        OSE         119,990             47.09         5,650,574
                       NYSE         657,841             47.01        30,928,108
                       Total        777,831             47.03        36,578,681

The issuer's holding
of own shares:
777,831

Following the
completion of the
above transactions,
Seadrill Limited
owned a total of
777,831 of its own
shares,
corresponding to
0.97% of Seadrill
Limited's share
capital.

Appendix:

An overview of all
transactions made
under the Company's
repurchase program
and its agreement
with Arctic
Securities that have
been carried out
during the above
-mentioned time
period is attached
to this report and
available at
www.newsweb.no.

Contact information

Lydia Brantley Mabry

Director of Investor Relations

T: +1 (832) 252-7064

E: lydia.mabry@seadrill.com

About Seadrill Limited

Seadrill is a leading offshore drilling contractor utilizing advanced technology
to unlock oil and gas resources for clients across harsh and benign locations
around the globe. Seadrill's high-quality, technologically-advanced fleet spans
all asset classes allowing its experienced crews to conduct operations across
geographies, from shallow to ultra-deepwater environments.