Hamilton, Bermuda (April 12, 2019)

Attached is Archer Limited’s Annual Report for 2018.

In the Annual Report for 2018 we have revised the carrying value of our QES shares from the previous reported numbers in our Q4 2018 Report published on 27 February 2019. The carrying value of QES shares have been updated based on changes in the consensus estimates from analysts from previous $8.8 per share to an amount equivalent to $6.0 per share. Please refer to note 12 in the Annual Report for further details.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.