X0306 4 2018-01-02 0001163739 NABORS INDUSTRIES LTD NBR 0001334321 Restrepo William J C/O NABORS CORPORATE SERVICES, INC. 515 W. GREENS RD., SUITE 1200 HOUSTON TX 77067 1 Chief Financial Officer Common Stock 2018-01-02 4 A 0 210016 0 A 1150430 D These TSR shares will only vest at the end of a three-year performance period (January 1, 2018 to December 31, 2020) based on achieving the Company's relative total shareholder return against a peer group of companies. The number of shares reported represents the maximum that may be earned, which is 200% of the target number. No number of shares is guaranteed to vest and the actual number of shares that will vest at the end of the performance period may be anywhere from zero to the amount stated. /s/ Mark D. Andrews by Power of Attorney for William Restrepo 2018-01-04