Common use of THE OFFERING AND CONCURRENT TRANSACTIONS Clause in Contracts

THE OFFERING AND CONCURRENT TRANSACTIONS. Conversion of Seadrill’s Interest in the Company 9 Section 3.2 Conversion of the Seadrill Member’s Interest in the Company 9 Section 3.3 The Offering 9 Section 3.4 Use of the IPO Proceeds 9 Section 3.5 Payment of Intercompany Obligations 10 ARTICLE IV

THE OFFERING AND CONCURRENT TRANSACTIONS. Conversion of Seadrill’s Interest in the Company 9 Section 3.2 Conversion of the Seadrill Member’s Interest in the Company 9 Section 3.3 The Offering 9 Section 3.4 Use of the IPO Proceeds 9 Section 3.5 Payment of Intercompany Obligations 10 ARTICLE IV10

THE OFFERING AND CONCURRENT TRANSACTIONS. Conversion of Seadrill’s Interest in the Company 9 Section 3.2 Conversion of the Seadrill Member’s Interest in the Company 9 Section 3.3 The Offering Offering. 9 Section 3.4 Use of the IPO Proceeds 9 Section 3.5 Payment of Intercompany Obligations 10 ARTICLE IV10