Hamilton, Bermuda, November 20, 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 November 13 through November 17, 2023,
Seadrill purchased a total of 462,037 shares at an average price of $41.31 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  Weighted average      Total daily
                Venue     daily     share price (USD)  transaction value
                          volume                             (USD)
                        (number of
                         shares)
13 Nov. 2023     OSE      9,853           40.29             397,010
13 Nov. 2023    NYSE      55,802          40.84            2,279,155
14 Nov. 2023     OSE      9,372           41.35             387,576
14 Nov. 2023    NYSE      62,000          41.34            2,563,185
15 Nov. 2023     OSE      19,800          42.92             849,863
15 Nov. 2023    NYSE     102,000          41.99            4,282,531
16 Nov. 2023     OSE      18,179          41.64             756,897
16 Nov. 2023    NYSE     122,000          40.59            4,951,541
17 Nov. 2023     OSE      17,031          41.47             706,237
17 Nov. 2023    NYSE      46,000          41.62            1,914,649
Period total     OSE      74,235          41.73            3,097,583
                NYSE     387,802          41.24           15,991,061
                Total    462,037          41.31           19,088,644
 Previously      OSE     523,747          43.12           22,586,563
  disclosed
   totals
(accumulated)
                NYSE    3,674,913         42.91           157,696,663
                Total   4,198,660         42.94           180,283,226
Program total    OSE     597,982          42.95           25,684,146
                NYSE    4,062,715         42.75           173,687,724
                Total   4,660,697         42.78           199,371,870

The issuer's holding of own shares: 4,660,697

Following the completion of the above transactions, Seadrill Limited owned a
total of 4,660,697 of its own shares, corresponding to 5.84% 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

Benjamin Wiseman
Corporate Finance Manager & Investor Relations
T: +44 786 713 9312
E: benjamin.wiseman@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.