Reference is made to the stock exchange announcement as of August 5, 2025 regarding the merger agreement entered into between Shelf Drilling, Ltd. (Shelf Drilling), ADES International Holding, Ltd. and ADES International Cayman (the “Merger”) as well as the subsequent announcements on September 16, 2025 regarding the revised terms of the Merger.

Reference is also made to the stock exchange announcement as of October 6, 2025 where the shareholders approved the Merger at the Extraordinary General Meeting with the requisite majority(99.6% of the votes cast in favor of the Merger).

Closing of the Merger is expected to occur today, November 25, 2025, which will therefore be the last day of trading in Shelf Drilling including the right to merger consideration.

As announced in the stock exchange announcement as of November 18, 2025, containing “key dates” for the Merger, shareholders of the Company, will cease to have any rights to shares in the Company.

However, this will not necessarily be visible to such shareholders through various brokerage systems before the record date (27 November 2025), in line with the standard T+2 settlement cycle in Euronext VPS.

Consequently, and subject to the above, and to avoid any uncovered trades, the Oslo Stock Exchangewill suspend trading in the Company on T+1 (26 November 2025).

Following the Merger, the Company and Shelf Drilling (North Sea), Ltd. will be delisted and as such discontinue the reporting of their respective earnings. The publication of their respective results for the third quarter of 2025, including all earning calls, is therefore cancelled.

About Shelf Drilling

Shelf Drilling is an international shallow water offshore drilling contractor with rig operations across the Middle East, Southeast Asia, India, West Africa, the Mediterranean and the North Sea. Shelf Drilling was founded in 2012 and has established a strong reputation within its industry for its fit-for-purpose strategy and close working relationship with industry leading clients. The Company is incorporated under the laws of the Cayman Islands with corporate headquarters in Dubai, United Arab Emirates.
The Company is listed on the Oslo Stock Exchange under the ticker “SHLF”.

About ADES

ADES is a world-leading international provider of oil and gas drilling services. Headquartered in Al-Khobar, Saudi Arabia, with a highly-trained workforce of over 8000+ employees, we operate an elite portfolio of offshore and onshore rigs across the globe. We pride ourselves of providing safe, client-centric drilling service through our world-class operational excellence programs and hand-picked workforce.