Northern Drilling Ltd. announces private placement of 313,600,000 new shares at a subscription price per New Share of NOK 0.125 for gross proceeds of NOK 39,200,000 on October 24, 2023. The completion of the Private Placement and allocation and subscription of shares remain subject to the approval by a special general meeting of the company to be held on November 7, 2023. Settlement of the New Shares allocated in the Private Placement is expected to take place on or about November 9, 2023.