Odfjell Rig III Ltd – Deepsea Atlantic Returns to Operations

Odfjell Rig III Ltd (OSE: ODRG) (“ODRG”), a 100% owned subsidiary of Odfjell Drilling notes that further to Odfjell Drilling Limited’s (“ODL”) press release on 20 April 2026 regarding an equipment handling incident on Deepsea Atlantic, that the rig has successfully returned to operations. In total, the rig had a total off-hire time of 106 days.

Since the incident and, in addition to the relentless dedication and effort of Odfjell Drilling employees, ODL notes that it has received widespread support and worked closely with its clients, suppliers, peers and other stakeholders to resolve the issue. Whilst off-hire, ODL was able to successfully recover the dropped Blow-Out Preventer (“BOP”) before returning the rig to yard to carry out repairs and install the spare BOP that ODL had in stock.

As previously noted, ODL has insurance which covers recovery and or replacement of the dropped BOP as well as costs associated with repair work on the rig itself.

For further queries, please contact:

James Crothers, Investor Relations Officer +44 (0) 7495 067 684

jchu@odfjelldrilling.com

London, United Kingdom 03 August 2026 Odfjell Drilling Ltd

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