Hamilton, Bermuda, June 26, 2023 - Seadrill Limited ("Seadrill" or the
"Company") (NYSE & OSE: SDRL) has posted an investor presentation to its
website, www.seadrill.com/investors (http://www.seadrill.com/investors). The
presentation is also attached hereto.

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

Contact Information

For additional information, visit www.seadrill.com.

Benjamin Wiseman

Investor Relations

T: +44 (0)786 713 9312

E: benjamin.wiseman@seadrill.com

About Seadrill

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.

Forward-Looking Statements

This communication includes forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Exchange Act. All
statements other than statements of historical facts included in this
communication and statements about the Company's plans, strategies, business
prospects, changes and trends in its business and the markets in which it
operates are forward-looking statements. These forward-looking statements can
often, but not necessarily, be identified by the use of forward-looking
terminology, including the terms "assumes", "projects", "forecasts",
"estimates", "expects", "anticipates", "believes", "plans", "intends", "may",
"might", "will", "would", "can", "could", "should" or, in each case, their
negative, or other variations or comparable terminology. These statements are
based on 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 communication. Important factors that
could cause actual results to differ materially from those in the forward
-looking statements include, but are not limited to, offshore drilling market
conditions, including supply and demand, dayrates, fluctuations in the price of
oil, international financial market conditions, changes in governmental
regulations that affect the Company or the operations of the Company's fleet,
the review of competition authorities, the performance of the drilling rigs in
the Company's fleet, the cancellation of drilling contracts currently included
in reported contract backlog, the impact of global economic conditions and
global health threats, pandemics and epidemics, political and other
uncertainties, including those related to the conflict in Ukraine, and other
important factors described from time to time in the reports filed or furnished
by us with the U.S. Securities and Exchange Commission ("SEC"). Consequently, no
forward-looking statement can be guaranteed. When considering these forward
-looking statements, you should also keep in mind the risks described from time
to time in the Company's filings with the SEC, including its annual report on
Form 20-F for the year ended December 31, 2022, filed with the SEC on April 19,
2023 (File No. 001-39327) and subsequent filings.

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 us to predict all of these factors.
Further, the Company cannot assess the impact of each such factors 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.a

seadrill@hawthornadvisors.com