Hemen Holding Limited ("Hemen"), a company indirectly controlled by trusts
established by Mr John Fredriksen for the benefit of his immediate family, has
on December 6, 2018 sold 3,000,000 shares in Seadrill Limited ("Seadrill”) at a
price of NOK 114.08 per share, and subsequently entered into a Total Return Swap
("TRS") agreement with underlying exposure to 3,000,000 shares in Seadrill.
Expiry date for the TRS agreement is March 6, 2019, and the TRS price is NOK
114.633 per share. Following these transactions, Hemen’s financial exposure in
Seadrill is unchanged. Hemen will have an affiliated ownership in Seadrill of
27,857,045 shares, equal to 27.86 percent of the issued shares and votes in the
company, and hold TRS agreements with underlying exposure to 3,000,000 shares.
Hemen does not hold other shares or rights to shares in Seadrill. This
disclosure is made pursuant to section 4-2 of the Norwegian Securities Trading