Hamilton, Bermuda, April 18, 2024 - On April 17, 2024, the Joint Nomination and
Remuneration Committee (the "Committee") of the Board of Directors (the "Board")
of Seadrill Limited ("Seadrill" or the "Company") (NYSE & OSE: SDRL) made awards
under the Company's amended and restated management incentive plan (the
"Restated Plan") including (1) a total of 175,135 Time-vested Restricted Stock
Units ("TRSUs") for management and other employees, vesting ratably annually on
each of the first, second and third anniversaries of the grant date, subject to
continued employment through such date, and (2) a total of 221,658
Performance-vested Restricted Stock Units ("PRSUs") for management and other
employees, to vest in a cliff at the end of a performance period ending December
31, 2026, subject to continued employment through such date and achieving
certain performance objectives linked to (a) the total shareholder return
("TSR") on the Company's common shares as compared to (i) certain absolute TSR
targets and (ii) the TSR of a compensation peer group (60% weighting), and (b)
achievement of certain free cash flow metrics (40% weighting). 

Additionally, at the Company's 2024 Annual General Meeting of Shareholders held
on April 17, 2024 (the "Meeting"), shareholders approved the proposed
remuneration in respect of each director's service on the Board for the period
from the date immediately following the Meeting until the later to occur of
December 31, 2024 and the date of the 2025 Annual General Meeting of
Shareholders (the "Next Meeting").  Such remuneration includes the grant of a
total of 22,283 TRSUs that vest either (i) on the Next Meeting, if the Next
Meeting occurs at least 50 weeks from the grant date, or (ii) if earlier or the
Next Meeting occurs less than 50 weeks from the grant date, on the first
anniversary of the grant date.  

Of the awards made by the Committee on April 17, 2024, the primary insiders of
the Company, Simon Johnson (President and Chief Executive Officer), Grant Creed
(EVP, Chief Financial Officer), Torsten Sauer-Petersen (EVP, Human Resources),
Samir Ali (EVP, Chief Commercial Officer), Todd Strickler (SVP, General
Counsel), Marcel Wieggers (SVP, Operations), Julie Robertson (Director), Jean
Cahuzac (Director), Jan Kjærvik (Director), Mark McCollum (Director), Harry
Quarls (Director), Andrew Schultz (Director), Paul Smith (Director), Jonathan
Swinney (Director) and Ana Zambelli (Director) received a total of 132,441 TRSUs
and a total of 165,236 PRSUs, as further described in the attached forms.

This information is subject to disclosure requirements pursuant to article 19 of
the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of
the Norwegian Securities Trading Act.

Contact Information
Lydia Brantley Mabry
Director of Investor Relations
ir@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.