Hamilton, Bermuda, August 31, 2023 - Reference is made to the announcements made
by Seadrill Limited ("Seadrill" or the "Company") (NYSE & OSE: SDRL) on August
8, 2022, and April 21, 2023 regarding the Company's management incentive plan
(the "Plan").

A portion of certain Time-vested Restricted Stock Units ("TRSUs") previously
awarded to primary insiders of the Company, Simon Johnson (President and Chief
Executive Officer), Grant Creed (EVP, Chief Financial Officer), Leif Nelson
(EVP, Chief Operations & Technology Officer), Torsten Sauer-Petersen (EVP, Human
Resources), Samir Ali (EVP, Chief Commercial Officer), and Todd Strickler (SVP,
General Counsel) has vested and been cash settled 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

For additional information, visit www.seadrill.com.

Lydia Brantley Mabry

Director of Investor Relations

T: +1 (832) 252-7064

E: lydia.mabry@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.