Hamilton, Bermuda (April 7, 2021)

Archer AS, a subsidiary of Archer Limited, has secured a long-term frame agreement with ConocoPhillips for the provision of wireline services on the Norwegian Continental Shelf, making Archer the largest mechanical intervention company on the Norwegian Continental Shelf with an estimated total contract back-log of NOK 3.5 billion.

The contract is another recognition of Archer’s ability to provide safe, efficient and sustainable intervention services. Archer pursues new technology and digital solutions for well simulations and remote support, to further enhance efficiency and to provide operations with minimum environmental impact.

The contract is for an initial five-year period commencing second quarter, 2021 and includes additional optional periods.

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

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