Hamilton, Bermuda (October 7, 2021)

In connection with Archer’s long term incentive program 1,319,854 restricted stock units (“RSUs”) have vested and 708,314 common shares have been distributed to Archer employees. 

In connection with the vesting of RSUs, Archer Limited has issued 708,314 common shares at an issuance price of NOK 4.6 per share with ISIN BMG0451H1170. The authorized share capital of Archer Limited is USD 10,000,000 divided into 1,000,000,000 common shares of par value USD 0.01 each. Fully paid and outstanding share capital of Archer Limited following the share capital increase is USD 1,487,586.12 consisting of 148,758,612 fully paid common shares of par value of USD 0.01 each.  

The following primary insiders were amongst the recipients of shares:

Mr. Kjell-Erik Østdahl, Chairman, received 31,280 shares. After this transaction, Mr. Østdahl holds 83,413 shares and 52,134 RSUs in Archer Limited.

Mr. Dag Skindlo, CEO, received 71,000 shares. After this transaction, Mr. Skindlo holds 274,333 shares, 600 000 stock options and 100,000 RSUs in Archer Limited.

Mr. Espen Joranger, CFO, received 29,200 shares. After this transaction, Mr. Joranger holds 57,307 shares and 40,000 RSUs in Archer Limited.

Mr. Adam Todd, General Counsel, received 29,200 shares. After this transaction, Mr. Todd holds 83,616 shares and 40.000 RSUs in Archer Limited.

After these transactions, the total number of options and RSUs outstanding in Archer Limited is 600,000 and 1,114,499 respectively.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)