Offshore drilling contractor Valaris has confirmed the start of TotalEnergies' drilling campaign offshore Angola,
which is being carried out by one of its drillships.

The rig owner won a 100-day contract with a TotalEnergies affiliate for the Valaris DS-12 drillship in March 2023.
The contract was slated to start in the second quarter of 2023. According to Valaris, this drillship has started its
assignment with TotalEnergies in Angola.

Joe Mayo, Rig Manager, commented: “The team is already performing to a very high standard for TotalEnergies
Angola, running the BOP at an average of 5-6 joints per hour. This success is attributed to transparent
collaboration with the customer and the team's unwavering commitment to excellence onboard the rig. Well done
team!”

The 780-foot Valaris DS-12 drillship was built by DSME Okpo shipyard in Geoje, South Korea, and can
accommodate 200 people. The rig's maximum operating water depth is 12,000 ft while its maximum drilling depth
is 40,000 ft.

Benjamin Weant, OIM, remarked: “Congratulations to the entire team for a safe and successful start-up and spud
for TotalEnergies Angola. It required extensive planning, coordination, and hard work to reach this point. Thanks
to everyone involved, and let's keep up the great work!”

Once it wraps up work with TotalEnergies in October 2023, the drillship is slated to move to Egypt in December
2023 to start its job with BP. This is expected to end in November 2024.

Valaris has lined up several jobs for its rig fleet. Recently, the rig owner confirmed new contracts for two floaters
and two jack-ups in its rig fleet for operations in West Africa, the U.S. Gulf of Mexico, and Australia.