Shelf Drilling Primary Insider Notification

PRESS RELEASE SHELF DRILLING PRIMARY INSIDER NOTIFICATION Dubai, 29 June 2021: Reference is made to certain legacy incentive common shares held by certain primary insiders of Shelf Drilling, Ltd. ("Shelf Drilling" or the "Company", OSE: SHLF) which, as set out in the prospectus published by the Company on 25 June 2018 in connection with its initial public offering, became released from all remaining transfer restrictions on 25 June 2021 (the "Release"). In order to cover taxes payable by certain holders upon the Release, the Company has facilitated, on behalf of those certain holders, the sale of the following common shares in the market: William Hoffman (COO) A total of 21,559 common shares have been sold on 25 and 28 June 2021 at an average price of NOK 5.0685 per common share to cover taxes payable by Mr. Hoffman pursuant to the Release. Gregory O'Brien (CFO) A total of 33,734 common shares have been sold on 25 and 28 June 2021 at an average price of NOK 5.0685 per common share to cover taxes payable by Mr. O’Brien pursuant to the Release. Please see the attached form of notification and public disclosure by primary insiders. Following the sale of shares to cover taxes: Mr. Hoffman holds 581,470 common shares in the Company, 251,892 RSUs and 458,159 PSUs. Mr. O'Brien holds 245,946 common shares in the Company, 157,432 RSUs and 286,349 PSUs. 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. 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 and article 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation).