Archer Limited : Subsequent Offering - Last day of

NOT  FOR  RELEASE,  PUBLICATION  OR  DISTRIBUTION  INTO OR IN THE UNITED STATES, CANADA,  JAPAN OR  AUSTRALIA, OR  ANY OTHER  JURISDICTION IN  WHICH THE RELEASE, PUBLICATION  OR  DISTRIBUTION  WOULD  BE  UNLAWFUL.  THIS ANNOUNCEMENT DOES NOT CONSTITUTE  AN OFFER  TO SUBSCRIBE  OR PURCHASE  ANY OF THE SECURITIES DESCRIBED HEREIN

Subsequent Offering - Last day of Subscription Period

Reference is made to the previous announcements by Archer Limited (the "Company") regarding the subsequent offering of up to 16,800,000 new shares in the Company (the "Subsequent Offering").

The subscription period for the Subsequent Offering will expire today, 19 April 2017 at 16:30 hours (CET). Correctly completed subscription forms must be received by ABG Sundal Collier ASA, Arctic Securities AS, or, in the case of online subscriptions, be registered, within this deadline. Upon expiry of the subscription period, any subscription rights that have not been exercised will expire and have no value.

For more information, please refer to the prospectus of the Company, dated 31 March 2017 (the "Prospectus"). The Prospectus is available at www.archerwell.com, www.abgsc.com and www.arctic.com/secno.

For further information, please contact:

Joachim Houeland, Corporate Treasurer and Investor Relations

+ 47 51 30 81 75

joachim.houeland@archerwell.com

Important information:

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada,  Japan or the United States  (including its territories and possessions, any  state  of  the  United  States  and  the District of Columbia) or any other jurisdiction  in  which  the  release,  publication  or  distribution  would  be unlawful.  This release is an announcement issued pursuant to legal information obligations, and is subject of the  disclosure requirements pursuant to section 5-12 of  the  Norwegian  Securities  Trading  Act.  It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United  States or in any other jurisdiction.  The securities mentioned herein have not been, and will not be, registered  under the United States Securities  Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to  an exemption  from the  registration requirements of the US Securities  Act. The Company does  not intend  to register  any portion  of the offering  of the securities in the United States or to conduct a public offering of  the securities  in the  United States.  Copies of this announcement are not being  made and may not be distributed  or sent into Australia, Canada, Japan or the  United States or any other jurisdiction in which such distribution would be unlawful  or would require registration or  other measures. The issue, exercise, purchase or sale  of subscription  rights and  the subscription  or purchase of shares  in the Company are subject  to specific legal or regulatory restrictions in  certain  jurisdictions.  Neither  the  Company  nor the Managers assumes any responsibility  in  the  event  there  is  a  violation  by  any  person of such restrictions. The distribution of this release may  in certain jurisdictions be restricted by law.  Persons into whose possession this release comes should inform themselves about  and  observe  any  such  restrictions.  Any failure to comply with these restrictions  may  constitute  a  violation  of  the securities laws of any such jurisdiction.  The  Managers  are  acting  for  the  Company  and no one else in connection  with the  Private Placement  and will  not be  responsible to anyone other  than  the  Company  for  providing  the  protections  afforded  to  their respective  clients or for providing advice in relation to the Private Placement and/or any other matter referred to in this release.

Forward-looking statements:

This release and any materials distributed  in connection with this release may contain  certain  forward-looking  statements.  By their nature, forward-looking statements involve  risk  and  uncertainty  because  they reflect the Company's current  expectations and assumptions as to future events and circumstances that may  not prove accurate. A number of material factors could cause actual results and developments to differ materially from  those expressed or implied by these forward-looking statements.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.