X0202 SCHEDULE 13G/A 0001085146-24-001447 0001074034 XXXXXXXX LIVE 3 Common Stock 03/31/2026 0001737706 Seadrill Ltd G7997W102 PARK PLACE 55 PAR-LA-VILLE ROAD HAMILTON D0 HM 11 Rule 13d-1(b) CANYON CAPITAL ADVISORS LLC a DE 1261779 0 1261779 0 1261779 N 2.02 IA Joshua S. Friedman a X1 0 1261779 0 1261779 1261779 N 2.02 IN Mitchell R. Julis a X1 0 1261779 0 1261779 1261779 N 2.02 IN Seadrill Ltd PARK PLACE, 55 PAR-LA-VILLE ROAD, HAMILTON, BERMUDA HM 11 This Schedule 13G is being filed on behalf of the following persons*: Canyon Capital Advisors LLC ("CCA") Joshua S. Friedman Mitchell R. Julis CCA is the investment advisor, direct or indirect, to the following persons: (i) The Canyon Value Realization Master Fund (Cayman), L.P. ("CVRF") (ii) Canyon Balanced Master Fund, Ltd. ("CBEF") (iii) Canyon Distressed Opportunity Master Fund III, L.P. ("CDOFIII") (iv) Canyon NZ-DOF Investing, L.P. ("NZ-TRADING") (v) Canyon-EDOF (Master) L.P. ("EDOF") (vi) Canyon Distressed TX L.P. ("CTX") (vii) Canyon Distressed TX (B) LLC ("CTXB") * Attached as Exhibit A is a copy of an agreement among the persons filing (as specified hereinabove) that this Schedule 13G is being filed on behalf of each of them. The principal business office of the persons comprising the group filing this Schedule 13G is located at 2728 North Harwood Street, 2nd Floor Dallas, TX 75201 Canyon Capital Advisors LLC - Delaware Joshua S. Friedman - United States Mitchell R. Julis - United States CVRF: a Cayman Islands exempted limited partnership CBEF: a Cayman Islands corporation CDOFIII: a Cayman Islands exempted limited partnership NZ-TRADING: a Delaware limited partnership EDOF: a Cayman Islands exempted limited partnership CTX: a Delaware limited partnership CTXB: a Delaware limited liability company N IA HC 1,261,779 2.02 1,261,779 1,261,779 1,261,779 1,261,779 N Y Y N Not Applicable N Not Applicable N Not Applicable N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. EXHIBIT A AGREEMENT REGARDING JOINT FILING The undersigned hereby agree and consent to the joint filing on their behalf of this amendment to Schedule 13G in connection with their beneficial ownership of the common stock of Seadrill Limited. Dated: May 15, 2026 CANYON CAPITAL ADVISORS LLC, a Delaware limited liability company By: /s/ Doug Anderson Name: Doug Anderson Title: Chief Compliance Officer JOSHUA S. FRIEDMAN /s/ Joshua S. Friedman MITCHELL R. JULIS /s/ Mitchell R. Julis CANYON CAPITAL ADVISORS LLC /S/ Doug Anderson 05/15/2026 Joshua S. Friedman /s/ Joshua S. Friedman 05/15/2026 Mitchell R. Julis /s/ Mitchell R. Julis 05/15/2026