Seadrill loses UK High Court case; estimates liability up to $53M over Angola JV dispute

Seadrill Ltd

High Court of England and Wales ruled against Seadrill in breach of contract/unjust enrichment suit related to Sonadrill JV formation; Seadrill evaluating appeal.
Liability estimated not to exceed $53M, excluding potential legal fee award; claimant originally sought ~$72M.
FY2025 Adjusted EBITDA impact estimated at approximately $10M.
Dispute stems from late 2018/early 2019 negotiations for Angola JV (Sonadrill).
Parties still finalizing quantum of damages with court.

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