Hamilton, Bermuda, January 9, 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 January 2, 2024, through January 5, 2024, the
Company purchased a total of 169,008 shares at an average price of $46.96 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)
  2-Jan-24       OSE    10,000         47.15             471,510
  2-Jan-24      NYSE    30,400         47.37            1,439,908
  3-Jan-24       OSE     9,982         46.57             464,893
  3-Jan-24      NYSE    32,272         47.02            1,517,371
  4-Jan-24       OSE    10,406         47.23             491,502
  4-Jan-24      NYSE    35,571         46.53            1,655,172
  5-Jan-24       OSE     8,465         46.28             391,734
  5-Jan-24      NYSE    31,912         47.12            1,503,767
Period Total     OSE    38,853         46.83            1,819,640
    NYSE       130,155   46.99       6,116,218
    Total      169,008   46.96       7,935,859
 Previously      OSE    91,149         45.30            4,128,857
  Disclosed
  Buybacks
  under the
   Program
(Accumulated)
    NYSE       252,470   45.82      11,568,891
    Total      343,619   45.68      15,697,748
Program Total    OSE    130,002        45.76            5,948,497
    NYSE       382,625   46.22      17,685,109
    Total      512,627   46.10      23,633,607

The issuer's holding of own shares: 512,627

Following the completion of the above transactions, the Company owned a total of
512,627 of its own shares, corresponding to 0.69% 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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