Hamilton, Bermuda (April 24, 2026)
Archer Limited ("Archer" or the "Company") today announces the publication of its Annual Report for 2025, including audited consolidated financial statements.
Reference is made to the Company's preliminary financial information for 2025 published on 27 February 2026 (the "Preliminary Financials"). The audited financial statements include certain differences compared to the Preliminary Financials.
The principal differences relate to the accounting treatment of the sale of the workover and pulling business in DLS South, completed in 2026. Assets and liabilities associated with this business have been classified as held for sale as at 31 December 2025 and measured in accordance with applicable accounting standards. This has resulted in additional impairment charges recognised in 2025 compared to the Preliminary Financials, with a corresponding negative impact on net income.
No other material differences have been identified between the Preliminary Financials and the audited Annual Report.
As previously communicated, the Company has transitioned from US GAAP to IFRS® Accounting Standards with effect from 1 January 2025, with comparative information for 2024 restated accordingly.
The Annual Report for 2025 is available on the Company's website.
For additional information please contact:
Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email: espen.joranger@archerwell.com
Joachim Houeland, Manager Treasury and 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.