Hamilton, Bermuda (May 7, 2024)

Reference is made to the key date announcement published on 3 May 2024. The
shares in Archer Limited trade ex the reverse share split today.

Issuer name: Archer Limited

Ex. date: May 7, 2024

Type of corporate action: reverse share split

Other information:

  · Reverse split ratio; twenty-five (25) old shares give one (1) new share.
  · New par value; USD 0.25 per share
  · New ISIN: BMG0451H2087.

For additional information please contact:

Espen Joranger, Chief Financial Officer | Mobile: +47 982 06 812 | Email:
espen.joranger@archerwell.com

Joachim Houeland, Manager Treasury & Investor Relations | Mobile: +47 482 78 748
| Email: joachim.houeland@archerwell.com

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act

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