Operational and Financial Overview

ENSCOROWAN Merger Synergies $165 million of annual pre-tax expense synergies identified including: General and administrative reductions Operational support efficiencies Regional office consolidation - Other operational synergies including inventory, logistics and vendor relationships ■ > 75% of these synergies expected to be achieved within one year of closing - Full run rate synergies anticipated by year-end 2020 These synergies are expected to create approximately $1.1 billion of capitalized value1 Further potential savings from adoption of best-in-class operational processes and economies of scale in capital purchasing 1 Assumes $165 million of synergies capitalized at an illustrative 11% discount rate; inclusive of taxes, transaction costs and expenses

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