PRESS RELEASE

SHELF DRILLING ANNOUNCES ONE-YEAR CONTRACT EXTENSION FOR THE KEY MANHATTAN 

Dubai, July 8, 2025 - Shelf Drilling, Ltd. ("Shelf Drilling" or the "Company",
OSE: SHLF) announced today that it has secured a one-year extension for the Key
Manhattan jack-up rig, in direct continuation of its current contract. The total
added contract value is approximately USD 29 million, and the rig is now
committed until November 2026 with one year of additional options thereafter.

Greg O'Brien, CEO, commented: "This additional backlog creates further revenue
and cash flow visibility for Shelf Drilling through 2026. We are very pleased to
continue our long-standing collaboration with our customer with this contract
extension. The Key Manhattan team has consistently delivered an outstanding
safety and operational track record for over 15 years, and we remain committed
to building on this performance and driving continuous improvement."


About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across the Middle East, Southeast Asia, India,
West Africa, the Mediterranean and the 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.