PRESS RELEASE

SHELF DRILLING, LTD. - 2023 REMUNERATION REPORT

Dubai, March 3, 2025: Reference is made to the Extraordinary General Meeting
("EGM") of Shelf Drilling, Ltd. ("Shelf Drilling" or the "Company", OSE: SHLF)
held on January 7, 2025 at which the Company's shareholders approved that the
Board of Directors of the Company would prepare a remuneration report for the
fiscal year 2023 (the "2023 Remuneration Report") and publish such report no
later than 60 calendar days following the date of the EGM.

Shelf Drilling is pleased to announce the publication today of the 2023
Remuneration Report a copy of which is attached. 

The Company intends to publish its Remuneration Statement and 2024 Remuneration
Report together with its 2024 Annual Report in early April 2025.

About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across Middle East, Southeast Asia, India, West
Africa, Mediterranean and North Sea. Shelf Drilling was founded in 2012 and has
established itself as a leader within its industry through its fit-for-purpose
strategy and close working relationship with industry leading clients. The
Company is incorporated under the laws of the Cayman Islands with corporate
headquarters in Dubai, United Arab Emirates. The Company is listed on the Oslo
Stock Exchange under the ticker "SHLF".

Additional information about Shelf Drilling can be found at
www.shelfdrilling.com.

Contact details
For questions or comments, please contact investor.relations@shelfdrilling.com.

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