Hamilton, Bermuda, January 22, 2024 - Seadrill Limited ("Seadrill" or the
"Company") (NYSE & OSE: SDRL) initiated a share repurchase program December 14,
2023 to repurchase up to $250 million of the Company's common shares in open
market transactions on the OSE and NYSE until no later than September 30, 2024
pursuant to an agreement with Fearnley Securities AS and its subsidiary,
Fearnley Securities, Inc. ("Fearnley").

For the period from and including January 15, 2024, through January 19, 2024,
the Company purchased a total of 179,866 shares at an average price of $44.94
per share. The transactions effected through the agreement with Fearnley
comprise all the transactions effected by or on behalf of the Company during the
period.

Transaction Overview

    Date       Trading  Volume   Weighted Average      Total Daily
                Venue            Share Price (USD)  Transaction Value
                                                          (USD)
  15-Jan-24      OSE     9,150         44.92             410,998
  16-Jan-24      OSE     1,320         45.08             59,500
  16-Jan-24     NYSE    40,566         44.66            1,811,584
  17-Jan-24      OSE     2,100         44.10             92,614
  17-Jan-24     NYSE    41,380         44.83            1,855,032
  18-Jan-24      OSE     2,647         44.55             117,936
  18-Jan-24     NYSE    39,603         45.11            1,786,670
  19-Jan-24      OSE     3,500         45.19             158,170
  19-Jan-24     NYSE    39,600         45.23            1,791,203
Period Total     OSE    18,717         44.84             839,217
    NYSE       161,149   44.96       7,244,489
    Total      179,866   44.94       8,083,706
 Previously      OSE    186,822        45.58            8,516,257
  Disclosed
  Buybacks
  under the
   Program
(Accumulated)
    NYSE       545,028   45.84      24,985,543
    Total      731,850   45.78      33,501,800
Program Total    OSE    205,539        45.52            9,355,474
    NYSE       706,177   45.64      32,230,032
    Total      911,716   45.61      41,585,506

The issuer's holding of own shares: 911,716

Following the completion of the above transactions, the Company owned a total of
911,716 of its own shares, corresponding to 1.23% of the Company's share
capital.

Appendix:

An overview of all transactions made under the Company's repurchase program and
its agreement with Fearnley that have been carried out during the above
-mentioned time period is attached to this report and available at
www.newsweb.no.
Contact information

Benjamin Wiseman
Corporate Finance Manager & Investor Relations
T: +44 786 713 9312
E: benjamin.wiseman@seadrill.com

About Seadrill Limited

Seadrill is a leading offshore drilling contractor utilizing advanced technology
to unlock oil and gas resources for clients across harsh and benign locations
around the globe. Seadrill's high-quality, technologically-advanced fleet spans
all asset classes allowing its experienced crews to conduct operations across
geographies, from shallow to ultra-deepwater environments.