UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to__________ Commission File Number 1-8097 Valaris plc (Exact name of registrant as specified in its charter) England and Wales 98-0635229 (State or ...

Financial Data and Key Metrics Changes - First quarter 2019 adjusted EBITDA was $36 million, beating prior guidance by approximately $20 million [36] - Total revenue for the first quarter was $406 million, up from $399 million in the previous quarter [36] - Adjusted EBITDA for the first quarter 2019 decreased from $45 million in the fourth quarter 2018 [41] Business Line Data and Key Metrics Changes - In the Floater segment, revenue increased to $233 million from $228 million, primarily due to contract startups for ENSCO DS-10, ENSCO 8503, and ENSCO 8505 [36] - Operational utilization for the Floater segment was 98%, up from 97% in the prior quarter [36] - In the Jackup segment, revenue slightly increased to $157 million from $156 million, with utilization rising to 87% [37] Market Data and Key Metrics Changes - Brent crude oil prices increased by approximately 40% since the beginning of 2019, stabilizing around $60 per barrel [23] - The number of new contract awards increased by 40% year-over-year during the first quarter [24] - Utilization for modern harsh environment jackups is about 90%, indicating potential pricing increases in some regions [31] Company Strategy and Development Direction - The merger created an industry-leading offshore driller with a diverse rig fleet and a strong customer base [9][10] - The company aims to deliver $165 million in annual targeted synergies from the merger [22] - Focus on developing new technologies and innovative solutions to enhance operational efficiencies [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the offshore drilling market recovery, with expectations for increased capital expenditures from exploration and production companies [24] - The company is focused on managing its existing fleet and evaluating opportunities for selective reactivations based on contract demand [15][16] - ARO Drilling is expected to order two newbuild jackups, contributing to visible earnings growth [18] Other Important Information - The company has a pro forma liquidity of $3.8 billion, including $1.5 billion in cash and short-term investments [58] - ARO Drilling has no external debt and a substantial contracted revenue backlog, enhancing future financing opportunities [48] Q&A Session Summary Question: Thoughts on term versus short-term spot market - Management is focusing on a portfolio approach to maximize contract attractiveness while keeping working assets operational [65] Question: Cadence of orders for ARO Drilling - ARO Drilling plans to place orders for new rigs approximately every 12 months [66] Question: Day rate improvements for Deepwater - Management noted that day rates are expected to improve, particularly for high-specification assets [70][73] Question: Contracting strategy and reactivation plans - The company is focused on working assets and may selectively reactivate one or two modern jackups based on contract opportunities [78] Question: Regional mix and cost considerations - The company has a strong geographic footprint, allowing for efficient asset movement and cost management in various regions [87]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-08097 Ensco Rowan plc (Exact name of registrant as specified in its charter) England and Wales (State or other jurisdiction of i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-8097 Ensco plc (Exact name of registrant as specified in its charter) England and Wales (State or other jurisdiction of incorporation o ...