SDRL · SEADRILL Ltd · Investor Relations

Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) today announced Sonadrill Holding Ltd ("Sonadrill"), its 50:50 joint venture with an affiliate of Sonangol E.P. ("Sonangol"), has been awarded a contract extension. A seven-well priced option for the ultra-deepwater drillship Sonangol Quenguela has been exercised, extending operations in Angola by approximately 480 days and committing the rig into June 2028. Seadrill earns a management fee for providing management, operational and technical support to Sonadrill. About Seadrill Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com . Forward-Looking Statements This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act

Seadrill Limited (“Seadrill” or the “Company”) (NYSE: SDRL) today announced a leadership change, effective immediately. Samir Ali, Executive Vice President, Chief Commercial Officer, has been appointed President and Chief Executive Officer, succeeding Simon Johnson. Julie J. Robertson, Chair of the Board of Seadrill, commented: “The Board is confident that Samir is the right leader to guide Seadrill forward. Since joining the company, he has demonstrated strong leadership, deep industry knowledge, and a clear commitment to operational excellence. We look forward to working closely with him as Seadrill continues to build on its strong foundation. I stand ready to provide Samir whatever support he needs as he makes this transition to CEO.” Samir Ali has served as Executive Vice President, Chief Commercial Officer of the Company since August 2022. Prior to joining the Company, Mr. Ali was with Diamond Offshore, most recently serving as Vice President of Investor Relations and

Seadrill Limited (“Seadrill” or the “Company”) (NYSE: SDRL) today announced its fourth quarter and full year 2025 results. Quarterly Highlights Secured contract awards across seven rigs, adding $0.5 billion to Contract Backlog (1) . West Capella received an award with PTTEP in Malaysia, adding over 14 months in firm term and enhancing earnings and Free Cash Flow (2) potential for 2026 and 2027. Reported full year 2025 net loss of $77 million and Adjusted EBITDA (3) of $353 million. Provides full year 2026 guidance ranges as follows: Total operating revenues of $1.40 billion to $1.45 billion, excluding $50 million of reimbursable revenues, Adjusted EBITDA (4) of $350 million to $400 million and Capital Expenditure and Long-Term Maintenance of $200 million to $240 million. Financial Highlights Figures in USD million, unless otherwise indicated Three months ended December 31, 2025 Three months ended September 30, 2025 Total operating revenues 362 363 Contract revenues 273

Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) today announced Equinor Brasil Energia Ltda has exercised a one-year priced option for the ultra-deepwater drillship West Saturn. The exercised option adds $114 million to contract backlog and extends the original contract, which commenced in 2022, through October 2027. Seadrill’s President and Chief Executive Officer, Simon Johnson, commented, “The continuation of the contract into a sixth consecutive year reinforces our long-term collaboration with Equinor in Brazil, where we have a shared commitment to delivering safe and reliable offshore operations in a strategically important basin”. About Seadrill Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com .

Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) will report its fourth quarter 2025 results on Wednesday, February 25, after the NYSE closes for trading. The Company will host a conference call to discuss its results on Thursday, February 26, at 08:00 CT / 15:00 CET. Interested participants may join the call by dialing +1 (800) 715-9871 (Conference ID: 7275294) at least 15 minutes prior to the scheduled start time. The Company will webcast the call live on the Investor Relations section of its website, where a replay will be available afterwards. About Seadrill Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com . Kevin Smith Vice President – Corporate Finance and Investor Relations [email protected]

Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) is pleased to provide the following contracting updates for the West Capella , West Elara and West Carina . In Malaysia, the ultra-deepwater drillship West Capella has secured a contract with an undisclosed operator. The well-based program is expected to commence in the second quarter of 2026 for an estimated duration of 440 days, plus priced options for three additional wells. The total contract value for the firm term is approximately $157 million, including a $5 million mobilization fee and excluding additional services. In Norway, the West Elara has secured an accommodation contract with Equinor AS on the Norwegian Continental Shelf. The program is anticipated to commence in the third quarter of 2026 and continue into the fourth quarter of 2027, with a total contract value of $78 million, plus three priced options of three months each. Prior to this fixture, Seadrill reached a mutual agreement with the current contract