Press Release

Rio de Janeiro, January 09th, 2023 – ODN I GmbH, Odebrecht Drilling Norbe VIII/IX Ltd., Odebrecht Drilling Norbe Eight GmbH, Odebrecht Drilling Norbe Nine GmbH, Odebrecht Offshore Drilling Finance Limited, ODN I Perfurações Ltda., Odebrecht Drilling Norbe Six GmbH, and ODN Tay IV GmbH. (collectively, the “Project Companies”) have launched the noteholder election process (the “Election”), as contemplated in the Project Companies’ extrajudicial restructuring plan (the “ER Plan”) filed before the Business Court of Rio de Janeiro, Brazil on December 12, 2022. Noteholders who wish to participate in the Election must complete and submit their Election through the bank, broker, or other nominee holding their notes in accordance with the procedures governing the Election (the “Election Procedures”), as more fully detailed in the notice (the “Election Notice”) and form (the “Election Form”) described further below. The Election deadline is February 8, 2023 at 5:00 p.m. (prevailing Eastern Time) (the “Election Deadline”).

All noteholders should be advised that Item 4 of the Election Form requires that all participating noteholders make certain certifications based on the CUSIP number of the notes they are tendering (the “Election Certifications”). Each participating noteholder should review these certifications ahead of the Election Deadline to ensure that they are able to make all necessary Election Certifications.

The Election Notice and Election Form are available at https://dm.epiq11.com/ocyan (the “Case Website”). The ER Plan and certain other documentation relating to the Project Companies’ restructuring are also available on the Case Website. The Election Notice and Election Form are also being sent for noteholders’ attention through banks, brokers, and other nominees that hold the notes.

Questions regarding the Election or the Election Procedures may be directed to the Project Companies’ agent, Epiq Corporate Restructuring LLC, via email at tabulation@epiqglobal.com (with a reference to “Ocyan” in the subject line”).