SDRL – Change to Board of Directors

Hamilton, Bermuda, November 21, 2019 - Seadrill Limited ("Seadrill" or the "Company") is pleased to announce that Glen Ole Rødland has been selected to succeed John Fredriksen as Chairman of Seadrill effective from November 21, 2019.

Glen has extensive experience working in shipping, oil and gas and other industries for more than 25 years. He is currently chairman of Prosafe and AqualisBraemar and is a former partner of the Norwegian investment companies Ferncliff and HitecVision.

In addition, as part of the Board succession planning process, Seadrill confirms that Harald Thorstein will step down as non-executive director of Seadrill effective from November 21, 2019.

Gunnar Winther Eliassen will be appointed to the Seadrill Board as non-executive director effective November 21, 2019. Gunnar is employed by the Seatankers Group, an affiliate of the Company’s largest shareholder, Hemen Holding Limited. Prior to joining Seatankers, Gunnar was partner at Pareto Securities Inc in New York and Oslo.

John Fredriksen commented: "I have been actively involved with Seadrill during the 14 years since its inception. While I have now decided to spend less time on board seats, my close involvement and strong support of Seadrill will remain unchanged. I will continue to push for business optimization, strategic initiatives such as the recent joint ventures with Sonangol and GDI, and consolidation in the sector.” 

Glen Ole Rødland commented: "It is an honor to be joining Seadrill. It is a company that has huge potential, an innovative approach to the future of the industry and great people. I am looking forward to being part of the team and to helping Seadrill be the best company it can be.”

Anton Dibowitz, CEO, commented: "John handing over the Chairmanship to Glen, is for us very much business as usual. Hemen remains our anchor shareholder. I will continue to have a close dialogue with John and benefit from his input and perspectives. On a personal level, I would like to extend my thanks and gratitude to John for his leadership of the board to date. I would like to welcome Glen and I look forward to working together.”

Media contacts:
Seadrill Limited
Iain Cracknell
+44 7765 221812
+44 208 8114702
Iain.cracknell@seadrill.com

Corporate Communications, Norway
Geir Bjorlo
+47 91 54 00 00
geir.bjorlo@corpcom.no

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