Shelf Drilling, Ltd. - Extraordinary general meeting held - approval of the cash merger with ADES

About this update from Ades Holding Company

Shelf Drilling, Ltd. - Extraordinary general meeting held - approval of thecashmerger with ADESDubai, October 6, 2025 - Reference is made to the stock exchange announcementasof August 5, 2025 regarding the merger agreement entered into between ShelfDrilling, Ltd. ("Shelf Drilling" or the "Company"), ADES InternationalHolding,Ltd. and ADES International Cayman (the "Merger") as well as the subsequentannouncements on September 16, 2025 regarding the revised terms of the Merger.An extraordinary general meeting in the Company was held today at 10:00 hours(Cayman time) to consider the Merger. All proposals on the agenda wereapprovedwith the requisite majority (99.6% of the votes cast in favor of the Merger).Minutes of the EGM are attached hereto and made available on the Company'sinvestor website https://www.shelfdrilling.com/investor-relations/.For further information on the Merger and the complete terms and conditionsforthe Merger, please see the announcements of August 5, 2025 and September 16,2025, as well as further materials (including the merger agreement and theamendment agreement) available onhttps://www.shelfdrilling.com/investor-relations/. The completion of theMergerremains conditional upon fulfilment of the customary closing conditionsdescribed therein. Subject to fulfilment of these conditions, completion of the Merger iscurrentlyexpected before the end of 2025.This information is subject to the disclosure requirements pursuant to section5-12 of the Norwegian Securities Trading Act.About Shelf Drilling Shelf Drilling is a leading international shallow water offshore drillingcontractor with rig operations across the Middle East, Southeast Asia, India,West Africa, the Mediterranean and the North Sea. Shelf Drilling was foundedin2012 and has established itself as a leader within its industry through itsfit-for-purpose strategy and close working relationship with industry leadingclients. The Company is incorporated under the laws of the Cayman Islands withcorporate headquarters in Dubai, United Arab Emirates. The Company is listedonthe Oslo Stock Exchange under the ticker "SHLF".Additional information about Shelf Drilling can be found atwww.shelfdrilling.com.Contact details For questions or comments, please [email protected]://newsweb.oslobors.no/message/656728

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