Noble Corporation plc announces the initiation of a quarterly dividend

SUGAR LAND, Texas, July 11, 2023

President and Chief Executive Officer Robert W. Eifler commented: "We are pleased to initiate a regular quarterly dividend to complement our ongoing share repurchase activities. Noble's strategic priorities over the past two years have been centrally focused on consolidation and establishing an industry leading free cash flow generation and return of cash platform.  Following year-to-date share repurchases of approximately $70 million, this initial quarterly dividend represents the next logical step in our strategy for maximizing shareholder value. Going forward, we will remain committed to returning the significant majority of free cash flow to shareholders over time via dividends and share repurchases, with an intention to scale both of these instruments higher as cash flow generation continues to grow."

Future quarterly dividends and other shareholder returns will be subject to, amongst other things, approval by the board of directors, and may be modified as market conditions dictate.

Dividends payable to Noble shareholders will generally be paid in U.S. dollars (USD). However, holders of shares in the form of share entitlements admitted to trading on NASDAQ Copenhagen will receive an equivalent dividend payment in Danish krone (DKK) as determined by the exchange rate on a specified date.  The holders of such share entitlements bear the risk of fluctuations in USD and DKK exchange rates.

About Noble Corporation plc
Noble is a leading offshore drilling contractor for the oil and gas industry.  The Company owns and operates one of the most modern, versatile, and technically advanced fleets in the offshore drilling industry.  Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921.  Noble performs, through its subsidiaries, contract drilling services with a fleet of offshore drilling units focused largely on ultra-deepwater and high specification jackup drilling opportunities in both established and emerging regions worldwide.  For further information visit www.noblecorp.com or email investors@noblecorp.com.

IMPORTANT INFORMATION 
This announcement is for information purposes only and does not constitute or contain any invitation, solicitation, recommendation, offer or advice to any person to subscribe for or otherwise acquire or dispose of any securities of Noble.

Certain statements in this announcement may constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and Noble and its subsidiaries' (collectively, the "Noble Group") anticipated or planned financial and operational performance. The words "targets", "believes", "committed to," "continues", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "estimates", "projects", "potentially" or similar expressions or the negatives thereof, identify certain of these forward-looking statements. The absence of these words, however, does not mean that the statements are not forward-looking. Other forward-looking statements can be identified in the context in which the statements are made. All statements regarding the shareholder return of capital framework, free cash flow, future dividends and share repurchases, execution of the Company's operating plans, and market conditions are forward-looking statements.