Hamilton, Bermuda (June 3, 2021)

Reference is made to the press release on May 10, 2021, wherein Archer announced the plan to acquire DeepWell.  The acquisition closed today, in accordance with previously communicated terms.

For additional information please contact:

Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email: espen.joranger@archerwell.com

Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78 748, Email: joachim.houeland@archerwell.com