Valaris Earnings Report
Industry-leading cost structure
Operating, Support and G&A Costs per Weighted Active Rig ($M) 1
14.8
-20%
14.8
13.3
11.9
11.9
14.9
12.2
16.8
FOCUSED VALUE DRIVEN RESPONSIBLE
17.0
16.8
Valaris 2
Diamond
Seadrill
Noble
Transocean
Active Floaters
10
11
11
12
16
9
9
6
29
26
Active Jackups
28
24
0
0
11
5
12
10
0
0
# of Countries with
15
16
5
7
14
6
10
11
11
6
Active Rigs
VALARIS
2020
2022
Source: Company filings; S&P Global Petrodata
1 Contract drilling expense (excluding reimbursable items and reactivation costs) and general and administrative expense for each available period divided by weighted average rig count. Active rig weighting
determined by cost complexity for discrete asset types: 1.0 for drillships, 1.3 for North Sea/Australia semisubmersibles, 0.9 for benign environment semisubmersibles, 0.9 for jackups active in Norway and 0.5 for
all other jackups. Active rigs defined as rigs that are not cold stacked or under construction. Active rigs and countries per S&P Global Petrodata Current Activity Report. Represents an average of each quarter
end in the given period. 2 Valaris operating costs exclude costs related to two rigs managed on behalf of a customer as they are not included in the active rig count.
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