8 September 2023: Deep Value Driller AS (the "Company" and together with its
subsidiaries, the "Group") is pleased to announce that the Group's 7th
generation mobile offshore drilling vessel "Deep Value Driller" (the
"Drillship") has today been successfully delivered to Saipem (the "Charterer")
under the bareboat charterparty entered into with respect to the Drillship
earlier this year (the "Contract").

Representatives of the Group will remain onboard the Drillship for the duration
of the Contract although the daily operational and maintenance responsibility
for the Drillship passes to the Charterer as from delivery. As previously
announced, the Contract has an estimated firm period of 3 years (with options
for extensions) and adds approximately USD 160 million of firm revenue backlog
to the group (excluding the rate payable for any optional extensions of the
Contract). Charter hire for the Drillship will start to accrue under the
Contract from the time of delivery.

The Company expects to be in a position to pay dividends from the year 2024, and
will in due time resolve and disclose a dividend policy for the Company.

Svend Anton Maier, CEO of the Company, commented: "We are very pleased to have
completed the reactivation project for the "Deep Value Driller" drillship and to
have successfully delivered the drillship to Saipem. We expect the drillship to
be a key contributor to Saipem and their customer's drilling activities in the
years to come."

Contacts

Svend Anton Maier, CEO
+47 41 42 71 29 
sam@deepvaluedriller.no

About Deep Value Driller

Deep Value Driller AS is a drillship-owning company which owns the high
specification UDW 7th generation drillship "Deep Value Driller", built in 2014.
As part of its strategy, the company has an ambition to create and maximise
value for its customers and investors, while at the same time ensuring safe and
sustainable operation of its drillship. For further information, visit
www.deepvaluedriller.no. 

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

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