29 March 2024
Hamilton, Bermuda
Reference is made to Northern Drilling Limited's (the "Company") stock exchange
announcements made on 19 October 2023 and 30 January 2024. The Company has now
received the Court's ruling regarding the Company's application to the
Technology and Construction Court for leave to appeal on points of law and to
challenge on grounds of serious irregularity the Arbitration Tribunal's awards
in the arbitration proceedings between the Company's wholly owned subsidiaries
West Aquila Inc. and West Libra Inc. and Hanwha Ocean Co., Ltd.
Pursuant to the ruling of the Technology and Construction Court the Company's
applications for leave to appeal the Awards on points of law have been refused
and the Company's applications challenging the Awards on grounds of serious
irregularity have been dismissed. The Company is considering the ruling.