SHELF DRILLING, LTD. PRESS RELEASE SHELF DRILLING CANCELLATION OF SHARESDubai ,January 3, 2020 : Reference is made to the stock exchange announcement datedSeptember 2, 2019 regarding the share repurchase program initiated byShelf Drilling, Ltd. ("Shelf Drilling " or the "Company", OSE`: SHLF). Today, 287,951 shares repurchased by the Company pursuant to the share repurchase program during the periodDecember 2 to December 30, 2019 have been cancelled. Following the cancellation, the issued share capital of the Company isUSD 1,366,432.39 , divided into 136,643,239 common shares, each with a par value ofUSD 0.01 . The authorised share capital of the Company isUSD 1,440,634.73 , divided into 144,063,473 shares, each with a par value ofUSD 0.01 . AboutShelf Drilling Shelf Drilling is a leading international shallow water offshore drilling contractor with rig operations acrossMiddle East ,Southeast Asia ,India ,West Africa and the Mediterranean.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 investor.relations@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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