Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") announced today that its 2021 Sustainability Report and Environmental, Social and Governance (ESG) Position Statement have been endorsed by the Valaris Executive Management Team and the ESG Committee of its Board of Directors. The Sustainability Report and ESG Position Statement can be found on the "Safety & Environment ‒ Sustainability" page of the Valaris website at www.valaris.com.

The ESG Position Statement reflects our commitment to developing targets in the next twelve months that will be disclosed in future Sustainability Reports with updates on our progress. These will be focused on three main areas:

1. Reducing emissions from the Company’s operations
2. Implementing technology solutions that positively contribute to the Paris Agreement goal to limit global warming to 1.5 degrees Celsius
3. Focusing on the diversity of the Company’s workforce with the aim of providing local employment for the benefit of the communities in which we work

Progress against these targets will be reviewed annually by the Valaris Executive Management Team and the ESG Committee of its Board of Directors.

About Valaris Limited

Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.

Cautionary Statements

Statements contained in this press release, as well as materials or websites that are cross-referenced, that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," “should,” “will” and similar words and specifically include statements that are aspirational or reflective of our views about future performance and our expectations, plans, or goals related to corporate responsibility, sustainability and environmental matters, employees, policy, business, procurement and other risks and opportunities. Forward-looking statements are aspirational and are not guarantees or promises that such expectations, plans, or goals will be met. Such historical, current, and forward-looking sustainability-related statements are based on currently available information and assumptions, as well as standards for measuring progress that are still in development and internal controls and processes that continue to evolve. They are also subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated. In addition to the factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10- Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking or other statements, except as required by law and notwithstanding any historical practice of doing so.

Website references are provided for convenience only. The content on the referenced websites is not incorporated by reference into this document, nor does it constitute a part of this document. We assume no liability for any third-party content contained on the referenced websites.

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