Valaris Earnings Report

Key takeaways 1 Largest fleet of high-specification rigs with a significant presence in all key offshore basins 2 Strong customer relationships with major IOCS, NOCs and independents 3 Industry leading cost structure and balance sheet 4 Improved rig supply and demand dynamics driving day rates higher 5 Significant operating leverage in an improving market 6 Advantaged position in the world's largest jackup market through ARO Drilling joint venture 7 Value-driven approach to capital allocation, including commitment to return capital to shareholders VALARIS 31

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