Noble Corporation Plc A · NYSE:NE
Noble Corporation Plc A — Noble — Investor Presentation (September 2026)
16 slides from Noble Corporation Plc A's investor presentation, September 2026
Slide 1: Investor Presentation
Investor Presentation September, 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This communication includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, as amended. All statements other than statements of historical facts included in this communication are forward
Slide 3: Key Financial Figures
Key Financial Figures Market Cap 2 Backlog 3 LTM Adj EBITDA 1 4 $7.3B $6.8B $1.0B Net Debt 1 5 Dividend Yield 6 LTM Adj EBITDA margin 1 4 $1.4B 4.4% 32% 1) A reconciliation to GAAP results for the current and prior periods is included on slide 15. The definition of each Non-GAAP measure is included
Slide 4: Significant Slate of Fleet Upgrades and Contract Commencements
Significant Slate of Fleet Upgrades and Contract Commencements 7 of these 9 rigs represent incremental revenue relative to H1 2026 contribution1 2026 2026 2027 2027 2028 2028 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Noble Gerry Gerry de de Souza Souza Noble Voyager Noble Voyager NobleNoble Intercep
Slide 5: High Specification Assets With Leading Technical Capabilities
High Specification Assets With Leading Technical Capabilities 15 High Spec Drillships 8 Other Floaters 5 Ultra Harsh Jackups 15x MPD / CML equipped (owned systems) 3x elite benign UDW semis (“D” rigs) preferred NCS jackup class 14x dual BOP equipped 1x tier-1 Norway semi (Claus Bachmann) 4x CJ70 rig
Slide 6: Globally Scaled UDW and Harsh Environment Fleet
Globally Scaled UDW and Harsh Environment Fleet 23 Floaters 5 Jackups Americas, WAfr, APac Main Regions Norway, UK 5 Ultra Harsh 2 Environment Jackups 5 6 High Spec Drillships 3 4 1 15 6 8 4 1 Other Floaters 4 23 Rig locations of 7/27/26 fleet status report. Excludes rigs held for sale: Noble Globet
Slide 7: Robust Open Demand Pipeline
Robust Open Demand Pipeline 160 18 140 16 16 16 ➢ Open Demand Inflection. Open floater 120 14 14 Deepwater Apollo demand (tenders + pre-tenders) 12 12 Deepwater Athena 12 Deepwater Mylos remains elevated at 95 rig years. 100 Dorado 10 Draco 80 83 Libra Meltem 8 ➢ Depth: Average term duration in the
Slide 8: Constructive Floater Fundamentals
Constructive Floater Fundamentals ➢ marketed supply of 147 rigs is 94% contracted (current + future), with 84% presently working ➢ working utilization anticipated to tighten over the next year 5-7 units 9 units current demand 138 units 138 contracted floaters sits between 2024 peak (147) and 2025 tr
Slide 9: Industry Leading Backlog
Industry Leading Backlog ✓ 37 rig years of floater backlog secured over past 18 months ✓ Superior backlog / EV ratio (NE 78% vs peers avg 67%) 3 ✓ 64% of Noble fleet capacity open to reprice in 2028 4 40 Floater rig years contracted 35 30 25 20 ROW Brazil + Norway 15 10 5 0 Noble Peer A Peer B Peer
Slide 10: Current Backlog Stands at $6.8 Billion
Current Backlog Stands at $6.8 Billion Backlog ($B) and Contract Coverage 64% 65% 51% 12% 2.3 Floaters Jackups 2.0 1.5 1.0 2026 2027 2028 2029-2031 Percentage of available days committed (1) 1) Committed days on total marketed fleet of 28 rigs as of 7/27/2026. 10
Slide 11: Demonstrated Leadership in Shareholder Capital Returns
Demonstrated Leadership in Shareholder Capital Returns Approaching $1.5B in Total Dividends & Buybacks since 2022 Cumulative Capital ($M) Quarterly DPS 1,800 0.6 Committed to returning 1,600 $0.50 $0.50 $0.50 $0.50 $0.50 $0.50 $0.50 $0.50 $0.50 $0.50 essentially all FCF 0.5 1,400 via buybacks & divi
Slide 12: First Choice Offshore
First Choice Offshore Globally scaled, top tier fleet supported by world class crews and organizational breadth Technical leadership in drilling performance and business innovation Deep relationships with leading upstream operators – customer centric service posture Industry leading FCF generation a
Slide 13: Appendix
Appendix First Choice Offshore
Slide 14: Appendix: Recent Financial Metrics
Appendix: Recent Financial Metrics ($ millions) Quarter End Quarter End Year End Year End 6/30/2026 3/31/2026 12/31/2025 12/31/2024 Revenue 720 786 3,286 3,058 Adjusted EBITDA 212 277 1,107 1,065 Margin % 30% 35% 34% 35% Net Income (Loss) (37) 121 217 448 Diluted EPS (0.23) 0.75 1.35 2.96 Cash flow
Slide 15: Appendix: Reconciliation to GAAP Measures
Appendix: Reconciliation to GAAP Measures $ millions 15
Slide 16: Thank you
Thank you First Choice Offshore