Exhibit 99.1

Seabras Sapura Q2 2021 - Summary Financials

Seabras Sapura 1H 2021 P&L

	Quarter
	ended			Quarter
	March 31,			ended June
($ in millions)	2021			30, 2021			1H 2021
Operating revenues	$	77		$	85		$	162
G&A		3			3			6
Net operating income		19			20			39
Net income		14			5			20
Seadrill ownership percentage		50	%		50	%		50	%
Share of net income / (loss)	$	7		$	3		$	10
Amortization of basis differences		(4	)		(5	)		(9	)
Share in results from Seabras (net of tax)	$	3		-$	2		$	1
Memo:
EBITDA		38			39			76
CapEx		5			7			12
Unlevered FCF		37			33			71
Backlog								770
Guidance:
2021 Full year CapEx		40

Seabras Sapura Q2 2021 Balance Sheet

	Quarter
	ended June
($ in millions)	30, 2021
Cash and cash equivalents	$	70
Other current assets		89
Long term restricted cash		8
Other non-current assets		1,433
Current liabilities		(517	)
Non-current liabilities		(335	)
Net Assets	$	748
Seadrill ownership percentage		50	%
Seadrill share of book equity	$	374
Shareholder loans held as equity		115
Basis difference allocated to rigs		(343	)
Basis difference allocated to contracts		77
Total adjustments		(151	)
Book value of Seadrill investment	$	223
Memo:
External Debt	$	405

Seadrill New Finance Limited expects to publish a Fleet Status report for Seabras Sapura in the near future and expects to publish the Fleet Status report and financial information on a periodic basis