SFL – Ruling from Oslo District Court in the Seadrill Legal Case

SFL Corporation Ltd. ("SFL" or the “Company”) received the ruling delivered by the Oslo District Court regarding the legal case between SFL’s rig-owning subsidiary and subsidiaries of Seadrill Ltd. (“Seadrill”) following the redelivery of the drilling rig Hercules to SFL in December 2022.

The court today issued a judgment in favor of SFL’s subsidiary where certain subsidiaries of Seadrill were ordered to pay SFL an amount equivalent to a total of approximately $48 million in compensation, including late payment interest and legal cost, as a result of its breach of contract upon redelivering the rig to SFL.

We will carefully review the details of the court’s judgment and note that the ruling is subject to appeal from both sides by March 5, 2025.