Hamilton, Bermuda, January 2, 2024 - Seadrill Limited ("Seadrill" or the
"Company") (NYSE & OSE: SDRL) initiated a share repurchase program December 14,
2023 to repurchase up to $250 million of the Company's common shares in open
market transactions on the OSE and NYSE until no later than September 30, 2024
pursuant to an agreement with Fearnley Securities AS and its subsidiary,
Fearnley Securities, Inc. ("Fearnley").

For the period from and including December 26 through December 29, the Company
purchased a total of 120,803 shares at an average price of $47.44 per share. The
transactions effected through the agreement with Fearnley comprise all the
transactions effected by or on behalf of the Company during the period.

Transaction Overview

    Date       Trading  Volume  Weighted average      Total daily
                Venue           share price (USD)  transaction value
                                                         (USD)
  26-Dec-23     NYSE    31,000        47.99            1,487,727
  27-Dec-23      OSE    11,000        47.57             523,245
  27-Dec-23     NYSE    20,000        47.66             953,110
  28-Dec-23      OSE    11,822        46.63             551,218
  28-Dec-23     NYSE    19,378        47.17             914,018
  29-Dec-23      OSE    9,149         46.81             428,259
  29-Dec-23     NYSE    18,454        47.33             873,391
Period total     OSE    31,971        47.00            1,502,722
    NYSE       88,832   47.60       4,228,246
    Total      120,803  47.44       5,730,968
 Previously      OSE    59,178        44.38            2,626,135
  disclosed
  buybacks
  under the
  programme
(accumulated)
    NYSE       163,638  44.86       7,340,645
    Total      222,816  44.73       9,966,780
Program total    OSE    91,149        45.30            4,128,857
    NYSE       252,470  45.82      11,568,891
    Total      343,619  45.68      15,697,748

The issuer's holding of own shares: 343,619

Following the completion of the above transactions, the Company owned a total of
343,619 of its own shares, corresponding to 0.46% of the Company's share
capital.

Appendix:

An overview of all transactions made under the Company's repurchase program and
its agreement with Fearnley that have been carried out during the above
-mentioned time period is attached to this report and available at
www.newsweb.no.

Contact information

Benjamin Wiseman
Corporate Finance Manager & Investor Relations
T: +44 786 713 9312
E: benjamin.wiseman@seadrill.com

About Seadrill Limited

Seadrill is a leading offshore drilling contractor utilizing advanced technology
to unlock oil and gas resources for clients across harsh and benign locations
around the globe. Seadrill's high-quality, technologically-advanced fleet spans
all asset classes allowing its experienced crews to conduct operations across
geographies, from shallow to ultra-deepwater environments.

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