Shelf Drilling Primary Insider Notification

PRESS RELEASE SHELF DRILLING PRIMARY INSIDER NOTIFICATION Dubai, 14 November 2022: Reference is made to the announcement by Shelf Drilling, Ltd. ("Shelf Drilling" or the "Company", OSE: SHLF) today, regarding the issuance of a total of 852,974 new common shares in the Company to the chairman of the board of directors, Ernie Danner, and the other non-executive directors or the Sponsor that such director represents without any consideration, as settlement of restricted stock units ("RSUs") under the Company's 2017 Long-Term Incentive Plan. Reference is also made to the announcement made by Shelf Drilling on 27 October 2022, regarding the award of 95,092 new RSUs to Mr Danner and 31,697 new RSUs to each of the non-executive directors of the Company listed below or the Sponsor that such director represents, which were granted today: - John K. Castle, Director; - J. William Franklin, Jr., Director; - Dongyang Lou, Director; - David B. Pittaway, Director; - John Reynolds, Director; - Benjamin Sebel, Director; - Usama Trabulsi, Director; and - David Williams, Director. The new RSUs shall vest on the first anniversary from the date of grant and shall each be settled in exchange for one common share in the Company against no consideration, subject to each director’s continued service with the Company. Please see the attached forms of notification and public disclosure by a primary insider. 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 in article 19 of Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.