| Name | Relationship | Address | Signature | Signature date | CIK |
|---|---|---|---|---|---|
| VARDE PARTNERS INC | 10%+ Owner | C/O VARDE PARTNERS, INC., 520 MADISON AVE, 34TH FLOOR, NEW YORK | Varde Investment Partners (Offshore) Master, L.P. By: Varde Investment Partners G.P., L.P., its GP By: Varde Investment Partners UGP, LLC, its GP By: Varde Partners, L.P., its Managing Member By: Varde Partners, Inc., its GP /s/ Andrew Malone, GC | 22 Jul 2025 | 0001054846 |
| Varde Investment Partners (Offshore) Master, L.P. | 10%+ Owner | C/O VARDE PARTNERS, INC., 520 MADISON AVE, 34TH FLOOR, NEW YORK | Varde Credit Partners Master, L.P. By: Varde Credit Partners G.P., L.P., its GP By: Varde Credit Partners UGP, LLC, its GP By: Varde Partners, L.P., its Managing Member By: Varde Partners, Inc., its GP /s/ Andrew Malone, GC | 22 Jul 2025 | 0001705023 |
| Varde Credit Partners Master, L.P. | 10%+ Owner | C/O VARDE PARTNERS, INC., 520 MADISON AVE, 34TH FLOOR, NEW YORK | Varde Investment Partners, L.P. By: Varde Investment Partners G.P., L.P., its GP By: Varde Investment Partners UGP, LLC, its GP By: Varde Partners, L.P., its Managing Member By: Varde Partners, Inc., its GP /s/ Andrew Malone, GC | 22 Jul 2025 | 0001744511 |
| VARDE INVESTMENT PARTNERS LP | 10%+ Owner | C/O VARDE PARTNERS, INC., 520 MADISON AVE, 34TH FLOOR, NEW YORK | The Varde Skyway Master Fund, L.P. By: Varde Skyway Fund G.P., L.P., its GP By: The Varde Skyway Fund UGP, LLC, its GP By: Varde Partners, L.P., its Managing Member By: Varde Partners, Inc., its GP /s/ Andrew Malone, GC | 22 Jul 2025 | 0001452534 |
| Varde Skyway Master Fund, L.P. | 10%+ Owner | C/O VARDE PARTNERS, INC., 520 MADISON AVE, 34TH FLOOR, NEW YORK | Varde Partners, Inc. /s/ Andrew Malone, GC | 22 Jul 2025 | 0001704946 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | NBR | Common Shares | Exercise of in-the-money or at-the-money derivative security | $8,865,000 | -295,500 | -15% | $30.00 | 1,718,430 | 18 Jul 2025 | See footnotes | F1, F2, F3, F4 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | NBR | Option (Obligation to sell) | Sale | $1,654,900 | -6,700 | -50% | $247.00* | 6,700 | 04 Jun 2025 | Common Shares | 670,000 | See footnotes | F1, F2, F3, F4, F5 | |
| transaction | NBR | Option (Obligation to sell) | Exercise of in-the-money or at-the-money derivative security | $0 | -2,955 | -44% | $0.000000 | 3,745 | 18 Jul 2025 | Common Shares | 295,500 | See footnotes | F1, F2, F3, F4, F5 | |
| transaction | NBR | Option (Obligation to sell) | Expiration of short derivative position | $0 | -3,745 | -100% | $0.000000 | 0 | 18 Jul 2025 | Common Shares | 374,500 | See footnotes | F1, F2, F3, F4, F5 |
| Id | Content |
|---|---|
| F1 | After giving effect to the options execercied and sales reported in this Statement, the common shares are directly held as follows: 126,310 by Varde Investment Partners (Offshore) Master, L.P., 923,304 by Varde Credit Partners Master, L.P., 370,505 by Varde Investment Partners, L.P., 298,311 by the Varde Skyway Master Fund, L.P. |
| F2 | Varde Investment Partners G.P., L.P. ("VIP GP") is the general partner of each of Varde Investment Partners (Offshore) Master, L.P. and Varde Investment Partners, L.P., and Varde Investment Partners UGP, LLC ("VIP UGP") is the general partner of VIP GP. Varde Credit Partners G.P., L.P. ("Credit Partners GP") is the general partner of Varde Credit Partners Master, L.P., and Varde Credit Partners UGP, LLC ("Credit Partners UGP") is the general partner of Credit Partners GP. The Varde Skyway Fund G.P., L.P. ("Skyway GP") is the general partner of The Varde Skyway Master Fund, L.P., and The Varde Skyway Fund UGP, LLC ("Skyway UGP") is the general partner of Skyway GP. Varde Partners, L.P. ("VPLP") is the managing member of Credit Partners UGP, VIP UGP, and Skyway UGP. Varde Partners, Inc. ("General Partner") is the general partner of VPLP. |
| F3 | (Continued from footnote 2) Mr. Bauer is the Chief Executive Officer of the General Partner. Therefore, each of the foregoing may be deemed beneficial owners of the reported securities. |
| F4 | Each of the Reporting Persons disclaims beneficial ownership except to the extent of their pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that any Reporting Person is the beneficial owner of any or all of the reported securities for the purposes of Section 16 or for any other purpose. |
| F5 | The reported securities represent July 18, 2025 expiry call option contracts sold between June 4, 2025 and July 1, 2025. The reported price represents a variable weighted average price per contract ("VWAP"), which reflects (i) 2,995 NBR US Call 30 7/17/25 option contracts written with a VWAP of $276, which were exercised as reported herein, and (ii) 2,743 NBR US Call 35 option contracts written with a VWAP of $249 and 1,002 NBR US Call 40 option contracts written with a VWAP of $154, each of which expired as reported herein. The Reporting Persons undertake to provide to the Issuer, any security holders of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the specific prices and number of option contracts sold on each date. |