SFL announced that it has entered into an agreement with Seadrill Limited ("Seadrill") in respect of funds in certain bank accounts pledged to SFL. Pursuant to the terms of this agreement, Seadrill agrees to continue to pay SFL approximately 71% of the existing contracted lease hire relating to the West Hercules and the West Linus in exchange for Seadrill's ability to withdraw funds to pay operating expenses relating to the two rigs. Any hire received by Seadrill relating to the sub-charters on these two rigs in excess of the withdrawn amounts will remain in Seadrill's earnings accounts pledged to SFL. This new fund withdrawal agreement follows the expiration of the previously announced forbearance agreement on December 14, 2020 which also included a similar payment arrangement until that date. Unless extended or terminated, the funds withdrawal agreement expires on March 31, 2021.