Seadrill Ltd

7 yr: First Pay: 2024-02-01; Redemption: 2026-08-01; Registration: 144A/Reg S; Comments: US$75m add-on of 8.375% 8/01/30 at 100.75, yld 8.232%. Spread: T+419bp. MWC T+50bp until 8/01/26, and then 104.188, 102.094, 100.00. Special redemption: Up to 10% of the aggregate principal at 103%. Equity clawback: Up to 40% at 108.375 until 8/01/26. Settle date: 8/08/23. 144A CUSIP: 81172QAB0. CoC: 101%;

Second Lien Notes. US$75m tap of of 8.375% due 8/01/30

Seadrill Ltd

General corporate purposes and tap offering fees and expenses

7 ar: First Pay: 2024-02-01; Redemption: 2026-08-01; Registration: 144P/Fuc X; Comments: US$500g (rgcjese znmg US$450g) 8.375% fgv 7fn (8/01/30) YI3 (8/01/26) gz 100.00, fxe 8.375%. Sgnsgei Z+451bg. KKI Z+50bg gnjmn zm 8/01/26, gve zcsv 104.188, 102.094, 100.00. Ucrjzf fxgnbgfri Ug zm 40% gz 108.375 rvzjx 8/01/26. ImIi 101%;

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