Valaris Earnings Report

Reduce emissions from our own operations and partner with customers Reduce Emissions from our own Operations • Target to reduce emissions intensity by 10% to 20% by 2030 compared to a 2019 baseline • Four focus areas identified to achieve this target: 1. Energy Efficient Practices 2. Energy-Saving Upgrades and Procedures 3. Biofuel Blends FOCUSED VALUE DRIVEN RESPONSIBLE VALARIS DS-12 NORTH SEA EAST CO₂AST CLUSTER Northern Endurance Partnership 4. Jackup Rig Electrification Partner with Customers on their Energy Transition Efforts • Carbon capture and storage (CCS) - - VALARIS Norway worked on the Northern Endurance Partnership project in the UK North Sea VALARIS 123 worked on the Porthos CO2 project in preparation for CO2 transport and storage offshore the Netherlands VALARIS 72 and 92 have performed plug and abandonment work on multiple reservoirs in the UK North Sea potentially suitable for CCS VALARIS MIDDLESBROUGH REDCAR DARLINGTON 145km HULL YORK 103km GRIMSBY SCUNTHORPE TEESSIDE HUMBER LEEDS SHEFFIELD 15

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