Noble Corporation announces closing of Diamond acquisition and new appointment to the board of directors

September 6, 2024

Noble Corporation announces the completion of its acquisition of Diamond Offshore Drilling, . This transaction enhances Noble’s position as a leading offshore driller, creating the largest fleet of 7^thgeneration dual-BOP drillships in the industry, and adding approximately $2 billion of backlog. Following completion of the acquisition of Diamond, the Company’s board of directors has appointed Patrice Douglas from the Diamond board of directors to serve as a new director of Noble.

Noble has filed a form 8-K regarding the completion of the acquisition with the U.S. Securities and Exchange Commission, available at: https://bit.ly/3WhkDLD.

Robert W. Eifler, President and Chief Executive Officer of Noble, stated, “We are excited to close this highly strategic and accretive transaction ahead of schedule and commence our integration activities. On behalf of Noble’s board of directors and employees, I would like to welcome the Diamond organization onboard and look forward to our exciting journey ahead as a combined team.”

Charles M. (Chuck) Sledge, Noble’s Chairman of the Board of Directors, added: “This combination marks a crucial next step in Noble’s 7G deepwater leadership strategy. We are excited to bring Diamond’s exceptional team and fleet on to the Noble platform and look forward to delivering valuable synergies for all stakeholders through the integration of these two great companies. I would also like to welcome Patrice Douglas, who was been nominated to join Noble’s board of directors from the Diamond board.”

Following Noble’s acquisition of Diamond, investors should not rely on Noble’s previously issued financial guidance for 2024, which is no longer applicable on a combined company basis.

Noble has published an updated fleet status report reflecting the addition of the Diamond rigs and other updates, chiefly the addition of 4.8 rig years of backlog recently awarded under the Commercial Enabling Agreement (CEA) with ExxonMobil for the Company’s four drillships operating in Guyana. These updates increase Noble’s current backlog to $6.7 billion.