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Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
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X0202 SCHEDULE 13D/A 0000902664-23-002466 0001791786 XXXXXXXX LIVE 8 Common Shares, par value $0.01 per share 09/17/2026 false 0001737706 G7997W102 Seadrill Ltd 4425 Westway Park Blvd., Suite 170 Houston TX 77041 Legal Department 212-974-6000 Elliott Investment Management L.P. 360 S. Rosemary Ave, 18th Floor West Palm Beach FL 33401 Adriana Schwartz 212-574-1200 Seward & Kissel LLP One Battery Park Plaza New York NY 10004 0001791786 N Elliott Investment Management L.P. OO N DE 3643112.00 0.00 3643112.00 0.00 3643112.00 N 5.8 IA PN Common Shares, par value $0.01 per share Seadrill Ltd 4425 Westway Park Blvd., Suite 170 Houston TX 77041 The following constitutes Amendment No. 8 ("Amendment No. 8") to the Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on April 5, 2023 (as amended, the "Schedule 13D"). This Amendment No. 8 amends and restates Items 3, 5(a)-(c) and the fifth paragraph of Item 6 as set forth below. Capitalized terms used herein and not otherwise defined in this Amendment No. 8 have the meanings set forth in the Schedule 13D. Item 4 of the Schedule 13D is incorporated herein by reference. The aggregate cost of the Common Shares reported herein is approximately $80,653,737. The Reporting Person may effect purchases of the Common Shares through margin accounts maintained for the Elliott Funds with prime brokers, which extend margin credit as and when required to open or carry positions in their margin accounts, subject to applicable federal margin regulations, stock exchange rules and such firms' credit policies. Positions in the Common Shares may be held in margin accounts and may be pledged as collateral security for the repayment of debit balances in such accounts. Since other securities may be held in such margin accounts, it may not be possible to determine the amounts, if any, of margin used to purchase the Common Shares. See rows (11) and (13) of the cover page to this Schedule 13D for the aggregate number of Common Shares and percentage of Common Shares beneficially owned by the Reporting Person. The aggregate percentage of Common Shares reported beneficially owned by the Reporting Person is based upon 62,541,443 Common Shares outstanding as of August 6, 2026, as disclosed in the Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026, filed by the Issuer with the SEC on August 10, 2026. See rows (7) through (10) of the cover page to this Schedule 13D for the Common Shares as to which the Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition. The transactions in the Common Shares effected by the Reporting Person during the past sixty (60) days, which were all in the open market, are set forth on Schedule 1 attached hereto and incorporated by reference herein. The Elliott Funds have entered into notional principal amount derivative agreements (the "Derivative Agreements") in the form of cash settled swaps with respect to an aggregate of 4,042,300 Common Shares of the Issuer (collectively representing economic exposure comparable to 6.5% of the Common Shares of the Issuer). The Derivative Agreements provide the Elliott Funds with economic results that are comparable to the economic results of ownership but do not provide them or the Reporting Person with the power to vote or direct the voting or dispose of or direct the disposition of the shares that are referenced in the Derivative Agreements (such shares, the "Subject Shares"). The Reporting Person disclaims beneficial ownership in the Subject Shares. EIM has combined economic exposure in the Issuer of approximately 12.3% of the Common Shares outstanding. Elliott Investment Management L.P. /s/ Elliot Greenberg Elliot Greenberg, Vice President 09/21/2026