Dubai, March 16, 2020: Reference is made to the stock exchange announcement
dated March 2, 2020 regarding the 2019 financial results for Shelf Drilling,
Ltd. (“Shelf Drilling" and, together with its subsidiaries, the "Company", OSE:
SHLF). Please find attached the Company’s 2019 Annual Report as approved by the
Board of Directors on March 2, 2020 along with the completion and publication of
the Company’s consolidated financial statements for 2019. Please note, any
market commentary in the 2019 Annual Report is as at March 2, 2020 or earlier if
explicitly stated. As such, the 2019 Annual Report does not reflect any market
events or changes after March 2, 2020, particularly the recent escalation of
COVID-19 as it was finalized prior to such escalation.
 
For further queries, please contact:
Greg O'Brien, Executive Vice President and Chief Financial Officer
Shelf Drilling, Ltd.
Tel.: +971 4567 3616
Email: greg.obrien@shelfdrilling.com

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 and the Mediterranean. 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.

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