PRESS RELEASE SHELF DRILLING SECURES CONTRACT EXTENSION ON THE TRIDENT 16 INEGYPT Dubai ,January 10, 2023 -Shelf Drilling, Ltd. ("Shelf Drilling " or the "Company", OSE: SHLF) announced today that it has secured a one-year contract extension for the Trident 16 jack-up rig in direct continuation of its current term withBelayim Petroleum Company ("Petrobel") for operations in theGulf of Suez offshoreEgypt . The contract includes a further one-year option period. The Trident 16 has been working with Petrobel in Belayim fields since 2015, and following this extension, the expected availability of the rig isFebruary 2024 . AboutShelf Drilling Shelf Drilling is a leading international shallow water offshore drilling contractor with rig operations acrossMiddle East ,Southeast Asia ,India ,West Africa , Mediterranean andNorth 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 theCayman Islands with corporate headquarters inDubai, United Arab Emirates . The company is listed on theOslo Stock Exchange under the ticker "SHLF". Additional information aboutShelf Drilling can be found at www.shelfdrilling.com. Contact details For questions or comments, please contact communications@shelfdrilling.com. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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