Form 8-K

8-K — Noble Corp plc

Accession: 0001895262-26-000147

Filed: 2026-10-26

Period: 2026-10-26

CIK: 0001895262

SIC: 1381 (DRILLING OIL & GAS WELLS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — ne-20261026.htm (Primary)

EX-99.1 (exhibit991-q32026pressrele.htm)

EX-99.2 (noblecorporationplcslide.htm)

GRAPHIC — NOBLE CORPORATION PLC PRESENTATION SLIDE 1 (noblecorporationplcslide001.jpg)

GRAPHIC — NOBLE CORPORATION PLC PRESENTATION SLIDE 2 (noblecorporationplcslide002.jpg)

GRAPHIC — NOBLE CORPORATION PLC PRESENTATION SLIDE 3 (noblecorporationplcslide003.jpg)

GRAPHIC — NOBLE CORPORATION PLC PRESENTATION SLIDE 4 (noblecorporationplcslide004.jpg)

GRAPHIC — NOBLE CORPORATION PLC PRESENTATION SLIDE 5 (noblecorporationplcslide005.jpg)

GRAPHIC — NOBLE CORPORATION PLC PRESENTATION SLIDE 6 (noblecorporationplcslide006.jpg)

GRAPHIC — NOBLE CORPORATION PLC PRESENTATION SLIDE 7 (noblecorporationplcslide007.jpg)

GRAPHIC — NOBLE CORPORATION PLC PRESENTATION SLIDE 8 (noblecorporationplcslide008.jpg)

GRAPHIC — NOBLE CORPORATION PLC PRESENTATION SLIDE 9 (noblecorporationplcslide009.jpg)

GRAPHIC — NOBLE CORPORATION PLC PRESENTATION SLIDE 10 (noblecorporationplcslide010.jpg)

GRAPHIC — NOBLE CORPORATION PLC PRESENTATION SLIDE 11 (noblecorporationplcslide011.jpg)

GRAPHIC — NOBLE LOGO (noblelogocolorsmall.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: ne-20261026.htm · Sequence: 1

ne-20261026

0001895262false00018952622026-10-262026-10-260001895262us-gaap:CommonStockMember2026-10-262026-10-260001895262ne:Tranche1WarrantsMember2026-10-262026-10-260001895262ne:Tranche2WarrantsMember2026-10-262026-10-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________________________________

FORM 8-K

__________________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (date of earliest event reported): October 26, 2026

__________________________________________

NOBLE CORPORATION plc

(Exact name of registrant as specified in its charter)

England and Wales 001-41520 98-1644664

(State or other jurisdiction of incorporation) (Commission file number) (I.R.S. employer identification no.)

2101 City West Boulevard, Suite 600, Houston, Texas 77042

(Address of principal executive offices) (Zip code)

Registrant’s telephone number, including area code: (281) 276-6100

__________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

A Ordinary Shares, par value $0.00001 per share NE New York Stock Exchange

Tranche 1 Warrants of Noble Corporation plc NE WS New York Stock Exchange

Tranche 2 Warrants of Noble Corporation plc NE WSA New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On October 26, 2026, Noble Corporation plc (the “Company”) issued a press release announcing its condensed consolidated financial results for the quarter ended September 30, 2026. A copy of such press release is included as Exhibit 99.1 and will be published in the “Investors” section on the Company’s website at www.noblecorp.com.

Pursuant to the rules and regulations of the Securities and Exchange Commission, the press release is being furnished and shall not be deemed to be “filed” under the Securities Exchange Act of 1934.

Item 7.01. Regulation FD Disclosure.

On October 27, 2026, the President and Chief Executive Officer of Noble Corporation plc (NYSE: NE), Robert W. Eifler, together with other executive officers, plan to announce Noble Corporation plc's earnings for the quarter ended September 30, 2026, via teleconference, which will be open to the public and broadcast live over the internet. A copy of the slide presentation used in connection with the teleconference is attached as Exhibit 99.2 and is incorporated by reference into this item.

Pursuant to the rules and regulations of the Securities and Exchange Commission, the slide presentation is being furnished and shall not be deemed to be “filed” under the Securities Exchange Act of 1934.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

EXHIBIT

NUMBER DESCRIPTION

Exhibit 99.1

Press Release issued by Noble Corporation plc dated October 27, 2026

Exhibit 99.2

Noble Corporation plc Slide Presentation dated October 26, 2026

Exhibit 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NOBLE CORPORATION plc

Date: October 26, 2026 By: /s/ Robert W. Eifler

Robert W. Eifler

President and Chief Executive Officer

EX-99.1

Filename: exhibit991-q32026pressrele.htm · Sequence: 2

Document

EXHIBIT 99.1

PRESS RELEASE

NOBLE CORPORATION PLC ANNOUNCES THIRD QUARTER 2026 RESULTS

•Approximately $560 million in new contract value awarded since the July fleet status report; backlog stands at $6.7 billion.

•$0.50 per share cash dividend declared for Q4, maintaining consistent return of capital program.

•Q3 Net Loss of $(117) million, Diluted Loss per Share of $(0.73), Adjusted Diluted Earnings (Loss) per Share of $(0.57), Adjusted EBITDA of $201 million, net cash provided by operating activities of $144 million, and Free Cash Flow of $(48) million.

•Full Year 2026 Guidance for Revenue and Adjusted EBITDA narrowed within prior guidance ranges; Capital Expenditures guidance increased, primarily attributable to higher customer reimbursable Capital Expenditures.

HOUSTON, TEXAS, October 26, 2026 - Noble Corporation plc (NYSE: NE, “Noble” or the “Company”) today reported third quarter 2026 results.

Three Months Ended

(in millions, except per share amounts)

September 30, 2026

September 30, 2025

June 30, 2026

Total Revenue

729

798

720

Contract Drilling Services Revenue

684

757

679

Net Income (Loss)

(117)

(21)

(37)

Adjusted EBITDA*

201

254

212

Adjusted Net Income (Loss)*

(92)

Basic Earnings (Loss) Per Share

(0.73)

(0.13)

(0.23)

Diluted Earnings (Loss) Per Share

(0.73)

(0.13)

(0.23)

Adjusted Diluted Earnings (Loss) Per Share*

(0.57)

0.19

0.01

* A Non-GAAP supporting schedule is included with the statements and schedules in this press release.

Robert W. Eifler, President and Chief Executive Officer of Noble, stated, “The third quarter, which featured a 5% sequential decrease in Adjusted EBITDA, marked the successful resumption of operations for both of our rigs in Brazil, but was also impacted by several other rigs across the fleet transitioning between contracts. On the commercial front, we have recently secured approximately $560 million in new contract awards, including a number of key programs that support a strengthening fleet utilization profile as we move through 2027.”

Third Quarter Results

Contract drilling services revenue for the third quarter of 2026 totaled $684 million compared to $679 million in the prior quarter. Utilization of the 28 marketed rigs was 70% in the third quarter of 2026 compared to 67% in the prior quarter. Contract drilling services costs for the third quarter were $469 million, up from $446 million in the prior quarter. Net income decreased to a $(117) million loss in the third quarter of 2026 compared to a net loss of $(37) million in the prior quarter, and Adjusted EBITDA decreased to $201 million in the third quarter of

2026, down from $212 million in the prior quarter. Net cash provided by operating activities in the third quarter of 2026 was $144 million, Capital Expenditures were $192 million, and Free Cash Flow was $(48) million.

Balance Sheet & Capital Allocation

The Company's balance sheet as of September 30, 2026, reflected total debt principal value of $1.9 billion and cash (and cash equivalents) of $337 million. On October 9, 2026, the sale of the Noble Resolve was finalized with the Company receiving the remaining $45 million of proceeds. Further, the sale of the Noble Globetrotter II is expected to close in the fourth quarter of 2026 for a purchase price of $38 million.

On October 26, 2026, Noble’s Board of Directors approved an interim quarterly cash dividend on our ordinary shares of $0.50 per share for the fourth quarter of 2026. The $0.50 per share dividend is expected to be paid on December 17, 2026, to shareholders of record at close of business on November 25, 2026. Future quarterly dividends and other shareholder returns will be subject to, amongst other things, approval by the Board of Directors.

Operating Highlights and Backlog

Noble's fleet of 23 marketed floaters was 66% contracted during the third quarter compared with 64% in the prior quarter. Recent contract awards since last quarter have added approximately 44 months of new floater backlog, with leading edge dayrates for Tier-1 drillships ranging between the mid-$400,000s and $500,000. Utilization of Noble's 5 marketed ultra harsh jackups was 86% in the third quarter versus 80% during the prior quarter. Recent contract awards since last quarter have added approximately 26 months of new jackup backlog, with leading edge dayrates ranging between $230,000 and $300,000.

Subsequent to last quarter’s earnings press release, new contracts with a total contract value of approximately $560 million include the following:

•Noble BlackRhino was awarded a four-well contract with TotalEnergies in Nigeria expected to commence in Q4 2026, with an estimated duration of 150 days plus six priced option wells.

•Noble Faye Kozack was awarded a five-well contract with Tullow in Ghana expected to commence in mid-2027, with an estimated duration of 250 days, plus five priced option wells.

•Noble Interceptor was awarded a one-well contract with DNO in Norway expected to commence in Q3 2027, with an estimated duration of 50-90 days. Thereafter, the rig is expected to commence, in direct continuation, a long-term P&A scope for ConocoPhillips in Norway on the Ekofisk field, with an estimated duration of 670 days.

•Noble BlackHawk was awarded a one-well contract with Apache in Uruguay expected to commence in Q4 2027, with an estimated duration of 50 days. Contract value of approximately $25 million excludes additional fees for mobilization and demobilization.

•Noble Globetrotter I was awarded a two-well contract with Occidental in Peru expected to commence in Q2 2027 at a dayrate of $400,000, plus a mobilization fee. Thereafter, the rig is expected to commence a contract with TotalEnergies in West Africa under a 3-year Capacity Reservation Agreement (CRA) for light well intervention services, providing a minimum commitment of 150 days per year. The first call-off service order is expected to commence in Angola in Q3/Q4 2027.

•Noble Intrepid was awarded a one-well contract with ORLEN in Norway that is expected to commence in Q3 2027 with an estimated duration of 40-60 days.

Backlog as of October 26, 2026, stands at $6.7 billion. Backlog excludes mobilization and demobilization revenue.

Outlook

For the full year 2026, Revenue guidance is narrowed to $2,850-$2,900 million (versus $2,800-$2,900 million previously); Adjusted EBITDA guidance is narrowed to $850-$900 million (versus $850-$925 million previously); and Capital Expenditures guidance is increased to $680-$705 million (versus $615-$665 million previously), with the increase primarily attributable to higher customer reimbursable Capital Expenditures. Excluding this $40 million increase in customer reimbursable Capital Expenditures (from $25 million to $65 million), our Capital Expenditures guidance would remain within the prior range.

Commenting on Noble’s outlook, Mr. Eifler stated, “Forward contract coverage and dayrate trends for both deepwater and ultra harsh environment jackups continue to methodically improve, despite limited apparent demand tailwinds arising from higher oil prices during 2026 thus far. Noble’s recent contract fixtures encompass a diversity of customers and regions, spanning frontier exploration to late-cycle well operations. We continue to build backlog that supports an expected meaningful inflection in fleet utilization and cash flow starting H2 2027, with already approximately 20% more contracted capacity in our fleet in H2 2027 compared to H1 2027.”

Due to the forward-looking nature of Adjusted EBITDA and Capital Expenditures (net of proceeds from insurance claims), management cannot reliably predict certain of the necessary components of the most directly comparable forward-looking GAAP measure, Net Income and Capital Expenditures, respectively. Accordingly, the Company is unable to present a quantitative reconciliation of such forward-looking non-GAAP financial measures to the most directly comparable forward-looking GAAP financial measure without unreasonable effort. The unavailable information could have a significant effect on Noble’s full year 2026 GAAP financial results.

Conference Call

Noble will host a conference call related to its third quarter 2026 results on Tuesday, October 27, 2026, at 8:00 a.m. U.S. Central Time. Interested parties may dial +1 800-715-9871 and refer to conference ID 4018911 approximately 15 minutes prior to the scheduled start time. Additionally, a live webcast link will be available on the Investor Relations section of the Company’s website. A webcast replay will be accessible for a limited time following the call.

Contact Noble Corporation plc

Ian Macpherson

Vice President - Investor Relations

+1 713-239-6019

imacpherson@noblecorp.com

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. Additional information on Noble is available at www.noblecorp.com.

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 looking statements, including, but not limited to, those regarding future guidance (including for 2027), including revenue, earnings and earnings per share, EBITDA and adjusted EBITDA, margins, leverage, operating results, project status and project schedules, expenses, tax rates and deferred taxes, future cash benefit expectations, the offshore drilling market and demand fundamentals, costs, amount, effect or timing of cost savings, debt, the benefits or results of asset acquisitions and dispositions, cash flows and free cash flow expectations, capital expenditures expectations, including reimbursable capital expenditures and related customer reimbursements, capital allocations expectations, including planned dividends and share repurchases, backlog, including the 2027 backlog profile and projections for the achievement of revenue associated with performance, rig demand, contract status, contract negotiations, terminations, options and extensions, contract awards and expected future contracts, anticipated contract start dates, contracted capacity, dayrates and duration, mobilization and demobilization fees, customer actions, needs and the general customer landscape, operational suspensions, projections, strategies and objectives of management for current or future operations and business, any asset sales or the retirement of rigs, access to capital, fleet condition, utilization and strategy, timing and amount of insurance recoveries, current or future market outlook and current or future economic trends or events and their impact on the Company, 2026 and 2027 financial guidance and any statements or descriptions of assumptions underlying any of the above. Forward-looking statements involve risks, uncertainties and assumptions, and actual results may differ materially from any future results expressed or implied by such forward-looking statements. When used in this communication, or in the documents incorporated by reference, the words “guidance,” “anticipate,” “aim,” “believe,” “continue,” “could,” “estimate,” “expect,” “future,” “goal,” “intend,” “likely,” “likelihood,” “may,” “might,” “on track,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “schedule,” “would,” “achieve,” “shall,”

“seek,” “strategy,” “target,” “will” and similar expressions are intended to be among the statements that identify forward looking statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to be correct. These forward-looking statements speak only as of the date of this communication and we undertake no obligation to revise or update any forward-looking statement for any reason, except as required by law. Actual results may differ materially from any future results expressed or implied by such forward-looking statements and the expectations expressed in forward-looking statements are subject to a number of risks, uncertainties and assumptions which could affect our business, operating results, and financial condition and include, but are not limited to, market conditions and changes in customer demand, the level of activity in the oil and gas industry and the offshore contract drilling industry, current and future prices of oil and gas, customer actions and the general customer landscape, new or substitute contracts, awards and expected future contracts, contract duration, renewal, terminations, and repricing, dayrates and contract duration, operational suspensions, realization of our current backlog of contract drilling revenue, operating hazards, natural disasters, seasonal weather events and related damages or liabilities, acts of war, geopolitical conflicts, including the conflict involving Iran and related geopolitical instability in the Middle East, and their impact on commodity prices, global energy markets and regional and global shipping flows, risks relating to operations in international locations, upgrades, refurbishment, operation, and maintenance of our rigs and related operational interruptions and delays, sales of drilling units, supplier capacity constraints or shortages, nonperformance by third-parties, suppliers and subcontractors, regulatory changes, the impact of governmental laws and regulations on our costs and the offshore drilling industry, potential impacts, liabilities and costs from pending or potential investigations, claims and tax or other disputes, and other factors, including those detailed in Noble’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the U.S. Securities and Exchange Commission. We cannot control such risk factors and other uncertainties, and in many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. You should consider these risks and uncertainties when you are evaluating us. With respect to our capital allocation policy, distributions to shareholders in the form of either dividends or share buybacks are subject to the Board of Directors’ assessment of factors such as business development, growth strategy, current leverage and financing needs. There can be no assurance that a dividend or buyback program will be declared or continued.

Contract Backlog

The duration and timing (including both starting and ending dates) of the customer contracts are estimates only, and customer contracts are subject to cancellation, suspension, delays for a variety of reasons, and for certain customers, reallocation of term among contracted rigs, including some beyond Noble’s control. The contract backlog represents the maximum contract drilling revenues that can be earned when only considering the contractual operating dayrate in effect during the firm contract period. The actual average dayrate will depend upon a number of factors (e.g., rig downtime, suspension of operations, etc.) including some beyond Noble’s control. The dayrates do not include revenue for mobilizations, demobilizations, upgrades, contract preparation, shipyards, or recharges, unless specifically otherwise stated. Dayrates may include revenue associated with performance including, for example, approximately 40% assumed performance revenue realized on a combined basis under certain long-term contracts with Shell (US) and TotalEnergies (Suriname).

NOBLE CORPORATION plc AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Operating revenues

Contract drilling services

683,650

757,405

2,105,647

2,401,910

Reimbursables and other

45,114

40,612

128,495

119,246

728,764

798,017

2,234,142

2,521,156

Operating costs and expenses

Contract drilling services

468,516

479,894

1,364,950

1,444,420

Reimbursables

32,026

30,547

96,246

90,691

Depreciation and amortization

143,432

147,260

420,354

437,482

General and administrative

27,286

33,301

84,278

103,485

Merger and integration costs

—

2,145

2,615

22,367

(Gain) loss on sale of operating assets, net

(2,579)

(6,232)

(92,437)

(10,983)

Loss on Impairment

—

60,702

42,270

60,702

668,681

747,617

1,918,276

2,148,164

Operating income (loss)

60,083

50,400

315,866

372,992

Other income (expense)

Interest expense, net of amounts capitalized

(34,990)

(40,490)

(111,752)

(120,954)

Gain (loss) on extinguishment of debt, net

—

(17,603)

—

Interest income and other, net

(9,070)

726

2,791

7,275

Income (loss) before income taxes

16,023

10,636

189,302

259,313

Income tax benefit (provision)

(133,047)

(31,731)

(222,285)

(129,233)

Net income (loss)

(117,024)

(21,095)

(32,983)

130,080

Basic earnings (loss) per share

(0.73)

(0.13)

(0.21)

0.82

Diluted earnings (loss) per share

(0.73)

(0.13)

(0.21)

0.80

NOBLE CORPORATION plc AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

September 30, 2026

December 31, 2025

ASSETS

Current assets

Cash and cash equivalents

337,186

471,399

Accounts receivable, net

611,981

589,597

Prepaid expenses and other current assets

314,033

211,286

Total current assets

1,263,200

1,272,282

Property and equipment, at cost

7,159,641

6,639,045

Accumulated depreciation

(1,646,785)

(1,236,222)

Property and equipment, net

5,512,856

5,402,823

Other assets

382,077

854,662

Total assets

7,158,133

7,529,767

LIABILITIES AND EQUITY

Current liabilities

Accounts payable

369,290

298,751

Accrued payroll and related costs

59,298

81,754

Other current liabilities

288,167

379,224

Total current liabilities

716,755

759,729

Long-term debt

1,888,681

1,975,791

Other liabilities

264,468

245,397

Total liabilities

2,869,904

2,980,917

Commitments and contingencies

Total shareholders’ equity

4,288,229

4,548,850

Total liabilities and equity

7,158,133

7,529,767

NOBLE CORPORATION plc AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Nine Months Ended September 30,

2026

2025

Cash flows from operating activities

Net income (loss)

(32,983)

130,080

Adjustments to reconcile net income (loss) to net cash flow from operating activities:

Depreciation and amortization

420,354

437,482

Amortization of intangible assets and contract liabilities, net

—

(8,366)

(Gain) loss on extinguishment of debt, net

17,603

—

(Gain) loss on sale of operating assets, net

(92,437)

(10,983)

Loss on impairment

42,270

60,702

Net changes in operating assets and liabilities

207,109

155,638

Net cash provided by (used in) operating activities

561,916

764,553

Cash flows from investing activities

Capital expenditures

(500,362)

(367,776)

Proceeds from insurance claims

1,584

22,201

Proceeds from disposal of assets, net

216,000

101,898

Net cash provided by (used in) investing activities

(282,778)

(243,677)

Cash flows from financing activities

Issuance of debt

800,000

—

Repayments of debt

(850,000)

—

Debt extinguishment costs

(40,727)

—

Debt issuance costs

(17,642)

—

Warrants exercised

3,267

Share repurchases

—

(20,000)

Dividend payments

(243,090)

(240,442)

Withholding tax related to employee stock transactions

(9,918)

(9,713)

Finance lease payments

(63,624)

(18,525)

Net cash provided by (used in) financing activities

(421,734)

(288,639)

Net increase (decrease) in cash, cash equivalents and restricted cash

(142,596)

232,237

Cash, cash equivalents and restricted cash, beginning of period

479,960

252,279

Cash, cash equivalents and restricted cash, end of period

337,364

484,516

NOBLE CORPORATION plc AND SUBSIDIARIES

OPERATIONAL INFORMATION

(Unaudited)

Average Rig Utilization (1)

Three Months Ended

September 30, 2026

September 30, 2025

June 30, 2026

Floaters

Jackups

Total

Operating Days

Three Months Ended

September 30, 2026

September 30, 2025

June 30, 2026

Floaters

1,398

1,488

1,335

Jackups

579

627

651

Total

1,977

2,115

1,986

Average Dayrates

Three Months Ended

September 30, 2026

September 30, 2025

June 30, 2026

Floaters

403,113

423,489

412,650

Jackups

207,651

202,982

197,380

Total

345,846

358,126

342,080

(1) Average Rig Utilization statistics include all marketed and cold stacked rigs.

NOBLE CORPORATION plc AND SUBSIDIARIES

CALCULATION OF BASIC AND DILUTED EARNINGS/(LOSS) PER SHARE

(In thousands, except per share amounts)

(Unaudited)

The following tables present the computation of basic and diluted earnings (loss) per share:

Three Months Ended

September 30,

Nine Months Ended

September 30,

2026

2025

2026

2025

Numerator:

Net income (loss)

(117,024)

(21,095)

(32,983)

130,080

Denominator:

Weighted average shares outstanding - basic

159,648

158,834

159,482

158,879

Dilutive effect of share-based awards

—

1,999

Dilutive effect of warrants

—

835

Weighted average shares outstanding - diluted

159,648

158,834

159,482

161,713

Earnings (loss) per share data:

Basic

(0.73)

(0.13)

(0.21)

0.82

Diluted

(0.73)

(0.13)

(0.21)

0.80

NOBLE CORPORATION plc AND SUBSIDIARIES

NON-GAAP MEASURES AND RECONCILIATION

Certain non-GAAP measures and corresponding reconciliations to GAAP financial measures for the Company have been provided for meaningful comparisons between current results and prior operating periods. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles.

The Company defines “Adjusted EBITDA” as Net Income (Loss) adjusted for interest expense, net of amounts capitalized; interest income and other, net; income tax benefit (provision); and depreciation and amortization expense, as well as, if applicable, gain (loss) on extinguishment of debt, net; (gain) loss on sale of operating assets, net; losses on economic impairments; amortization of intangible assets and contract liabilities, net; restructuring and similar charges; costs related to mergers and integrations; and certain other infrequent operational events. We believe that the Adjusted EBITDA measure provides greater transparency of our core operating performance. We prepare Adjusted Net Income (Loss) by eliminating from Net Income (Loss) the impact of a number of non-recurring items we do not consider indicative of our on-going performance. We prepare Adjusted Diluted Earnings (Loss) per Share by eliminating from Diluted Earnings (Loss) per Share the impact of a number of non-recurring items we do not consider indicative of our on-going performance. Similar to Adjusted EBITDA, we believe these measures help identify underlying trends that could otherwise be masked by the effect of the non-recurring items we exclude in the measure.

The Company also discloses Free Cash Flow as a non-GAAP liquidity measure. Free Cash Flow is calculated as net cash provided by (used in) operating activities less cash paid for Capital Expenditures, net of any proceeds from insurance claims, if applicable. We believe Free Cash Flow is useful to investors because it measures our ability to generate or use cash. Once business needs and obligations are met, this cash can be used to reinvest in the company for future growth or to return to shareholders through dividend payments or share repurchases. We may have certain obligations such as non-discretionary debt service that are not deducted from the measure. Such business needs, obligations, and other non-discretionary expenditures that are not deducted from Free Cash Flow would reduce cash available for other uses including return of capital.

We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and future prospects, and allow for greater transparency with respect to key metrics used by our management team for financial and operational decision-making. We are presenting these non-GAAP financial measures to assist investors in seeing our financial performance through the eyes of management, and because we believe that these measures provide an additional tool for investors to use in comparing our core financial performance over multiple periods with other companies in our industry.

These non-GAAP adjusted measures should be considered in addition to, and not as a substitute for, or superior to, contract drilling revenue, contract drilling costs, contract drilling margin, average daily revenue, operating income, cash flows from operations, or other measures of financial performance prepared in accordance with GAAP. Please see the following non-GAAP Financial Measures and Reconciliations for a complete description of the adjustments.

NOBLE CORPORATION plc AND SUBSIDIARIES

NON-GAAP MEASURES AND RECONCILIATION

(In thousands, except per share amounts)

(Unaudited)

Reconciliation of Adjusted EBITDA

Three Months Ended September 30,

Three Months Ended

2026

2025

June 30, 2026

Net income (loss)

(117,024)

(21,095)

(36,684)

Income tax (benefit) provision

133,047

31,731

16,291

Interest expense, net of amounts capitalized

34,990

40,490

36,203

Interest income and other, net

9,070

(726)

(3,664)

Depreciation and amortization

143,432

147,260

139,582

(Gain) loss on extinguishment of debt, net

—

18,329

Merger and integration costs

—

2,145

—

(Gain) loss on sale of operating assets, net

(2,579)

(6,232)

—

Loss on impairment

—

60,702

42,270

Adjusted EBITDA

200,936

254,275

212,327

Reconciliation of Adjusted Income Tax Benefit (Provision)

Three Months Ended September 30,

Three Months Ended

2026

2025

June 30, 2026

Income tax benefit (provision)

(133,047)

(31,731)

(16,291)

Adjustments

Discrete tax items

15,781

(5,280)

(23,039)

Total adjustments

15,781

(5,280)

(23,039)

Adjusted income tax benefit (provision)

(117,266)

(37,011)

(39,330)

NOBLE CORPORATION plc AND SUBSIDIARIES

NON-GAAP MEASURES AND RECONCILIATION

(In thousands, except per share amounts)

(Unaudited)

Reconciliation of Adjusted Net Income (Loss)

Three Months Ended September 30,

Three Months Ended

2026

2025

June 30, 2026

Net income (loss)

(117,024)

(21,095)

(36,684)

Adjustments

Joint taxation scheme compensation

(1,066)

—

1,093

Merger and integration costs

—

2,145

—

(Gain) loss on sale of operating assets, net

(2,579)

(6,232)

—

Loss on impairment

—

60,702

42,270

(Gain) loss on extinguishment of debt, net

—

18,329

Discrete tax items

15,781

(5,280)

(23,039)

Other, net

13,383

—

Total adjustments

25,519

51,335

38,653

Adjusted net income (loss)

(91,505)

30,240

1,969

Reconciliation of Adjusted Diluted EPS

Three Months Ended September 30,

Three Months Ended

2026

2025

June 30, 2026

Unadjusted diluted EPS

(0.73)

(0.13)

(0.23)

Adjustments

Joint taxation scheme compensation

(0.01)

—

0.01

Merger and integration costs

—

0.01

—

(Gain) loss on sale of operating assets, net

(0.01)

(0.04)

—

Loss on impairment

—

0.38

0.26

(Gain) loss on extinguishment of debt, net

—

0.11

Discrete tax items

0.10

(0.03)

(0.14)

Other, net

0.08

—

Total adjustments

0.16

0.32

0.24

Adjusted diluted EPS

(0.57)

0.19

0.01

Reconciliation of Free Cash Flow and Capital Expenditures, net of Proceeds from Insurance Claims

Three Months Ended September 30,

Three Months Ended

2026

2025

June 30, 2026

Net cash provided by (used in) operating activities

144,467

277,136

144,159

Capital expenditures

(191,979)

(137,659)

(204,530)

Proceeds from insurance claims

—

1,584

Free cash flow

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139,477

(58,787)

EX-99.2

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Noble Corporation plc Third Quarter 2026 Earnings Conference Call October 27, 2026

Disclaimer 2 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 looking statements, including, but not limited to, those regarding future guidance (including for 2027) about Noble Corporation plc (“Noble” or the “Company”), including revenue, earnings and earnings per share, EBITDA and adjusted EBITDA, margins, leverage, operating results, project status and project schedules, expenses, tax rates and deferred taxes, future cash benefit expectations, the offshore drilling market and demand fundamentals, costs, amount, effect or timing of cost savings, debt, the benefits or results of asset acquisitions and dispositions, cash flows and free cash flow expectations, capital expenditures expectations, including reimbursable capital expenditures and related customer reimbursements, capital allocations expectations, including planned dividends and share repurchases, backlog, including the 2027 backlog profile and projections for the achievement of revenue associated with performance, rig demand, contract status, contract negotiations, terminations, options and extensions, contract awards and expected future contracts, anticipated contract start dates, contracted capacity, dayrates and duration, mobilization and demobilization fees, customer actions, needs and the general customer landscape, operational suspensions, projections, strategies and objectives of management for current or future operations and business, any asset sales or the retirement of rigs, access to capital, fleet condition, utilization and strategy, timing and amount of insurance recoveries, current or future market outlook and current or future economic trends or events and their impact on the Company, 2026 and 2027 financial guidance and any statements or descriptions of assumptions underlying any of the above. Forward-looking statements involve risks, uncertainties and assumptions, and actual results may differ materially from any future results expressed or implied by such forward-looking statements. When used in this communication, or in the documents incorporated by reference, the words “guidance,” “anticipate,” “aim,” “believe,” “continue,” “could,” “estimate,” “expect,” “future,” “goal,” “intend,” “likely,” “likelihood,” “may,” “might,” “on track,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “schedule,” “would,” “achieve,” “shall,” “seek,” “strategy,” “target,” “will” and similar expressions are intended to be among the statements that identify forward looking statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to be correct. These forward-looking statements speak only as of the date of this communication and we undertake no obligation to revise or update any forward-looking statement for any reason, except as required by law. Actual results may differ materially from any future results expressed or implied by such forward-looking statements and the expectations expressed in forward-looking statements are subject to a number of risks, uncertainties and assumptions that could affect our business, operating results, and financial condition and include, but are not limited to, market conditions and changes in customer demand, the level of activity in the oil and gas industry and the offshore contract drilling industry, current and future prices of oil and gas, customer actions and the general customer landscape, new or substitute contracts, awards and expected future contracts, contract duration, renewal, terminations, and repricing, dayrates and contract duration, operational suspensions, realization of our current backlog of contract drilling revenue, operating hazards, natural disasters, seasonal weather events and related damages or liabilities, acts of war, geopolitical conflicts, including the conflict involving Iran and related geopolitical instability in the Middle East, and their impact on commodity prices, global energy markets and regional and global shipping flows, risks relating to operations in international locations, upgrades, refurbishment, operation, and maintenance of our rigs and related operational interruptions and delays, sales of drilling units, supplier capacity constraints or shortages, nonperformance by third-parties, suppliers and subcontractors, regulatory changes, the impact of governmental laws and regulations on our costs and the offshore drilling industry, potential impacts, liabilities and costs from pending or potential investigations, claims and tax or other disputes, and other factors, including those detailed in Noble’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the U.S. Securities and Exchange Commission. We cannot control such risk factors and other uncertainties, and in many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. You should consider these risks and uncertainties when you are evaluating us. With respect to our capital allocation policy, distributions to shareholders in the form of either dividends or share buybacks are subject to the Board of Directors’ assessment of factors such as business development, growth strategy, current leverage and financing needs. There can be no assurance that a dividend or buyback program will be declared or continued. Non-GAAP Measures This presentation includes certain financial measures that we use to describe the Company's performance that are not in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). The non-GAAP information presented herein provides investors with additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. Moreover, other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. The Company defines "Adjusted EBITDA" as net income (loss) adjusted for interest expense, net of amounts capitalized; interest income and other, net; income tax benefit (provision); and depreciation and amortization expense, as well as, if applicable, gain (loss) on extinguishment of debt, net; (gain) loss on sale of operating assets, net; losses on economic impairments; restructuring and similar charges; costs related to mergers and integrations; and certain other infrequent operational events. We believe that the Adjusted EBITDA measure provides greater transparency of our core operating performance. The Company defines “Net debt” as indebtedness minus cash and cash equivalents; “Free cash flow” as net cash provided by (used in) operating activities less capital expenditures, net of proceeds from insurance claims, if applicable; “Adjusted EBITDA margin” as adjusted EBITDA divided by total revenues; and “Net leverage” as net debt divided by annualized Adjusted EBITDA from the most recently reported quarter. Noble believes these metrics and performance measures are widely used by the investment community and are useful in comparing investments among upstream oil and gas companies in making investment decisions or recommendations. These measures may have differing calculations among companies and investment professionals, and a non-GAAP measure should not be considered in isolation or as a substitute for the related GAAP measure or any other measure of a company’s financial or operating performance presented in accordance with GAAP. Please see the Appendix to this communication for more information regarding the non-GAAP measures in this communication. Additionally, due to the forward-looking nature of Adjusted EBITDA and capital expenditures (net of reimbursements), management cannot reliably predict certain of the necessary components of the most directly comparable forward-looking GAAP measures. Accordingly, the company is unable to present a quantitative reconciliation of such forward-looking non-GAAP financial measures to the most directly comparable forward-looking GAAP financial measures without unreasonable effort. Contract Backlog The duration and timing (including both starting and ending dates) of the customer contracts are estimates only, and customer contracts are subject to cancellation, suspension, delays for a variety of reasons, and for certain customers, reallocation of term among contracted rigs, including some beyond Noble’s control. The contract backlog represents the maximum contract drilling revenues that can be earned when only considering the contractual operating dayrate in effect during the firm contract period. The actual average dayrate will depend upon a number of factors (e.g., rig downtime, suspension of operations, etc.) including some beyond Noble’s control. The dayrates do not include revenue for mobilizations, demobilizations, upgrades, contract preparation, shipyards or recharges, unless specifically otherwise stated. Dayrates may include revenue associated with performance, including, for example, approximately 40% assumed performance revenue realized on a combined basis under certain long-term contracts with Shell (US) and TotalEnergies (Suriname).

Summary Approximately $560M in New Contracts1, Backlog at $6.7B BlackRhino, BlackHawk, Faye Kozack, Interceptor, Globetrotter I 2026 Outlook: Revenue and Adjusted EBITDA Guidance Narrowed Capital Expenditures range increased primarily due to reimbursable Capital Expenditures Q3 Adjusted EBITDA2 of $201M, Free Cash Flow2 of $(48)M 3 Consistent Return of Capital Program Q4 2026 dividend maintained at $0.50 per share 1) New contracts since 7/27/2026 fleet status report. 2) A reconciliation to GAAP results for the current and prior periods is included on slide 10. The definition of each Non-GAAP measure is included on slide 2.

Third Quarter Financial Highlights Adjusted EBITDA1 $201M $212M Capital expenditures $192M $205M Free cash flow1 $(48)M $(59)M Net debt1 $1,551M $1,432M Backlog $6.7B $6.8B Adjusted EBITDA margin1 28% 30% Net leverage1 1.9x 1.7x 4 Prior quarter figures for Q2 2026 shown below. 1) A reconciliation to GAAP results for the current and prior periods is included on slide 10. The definition of each Non-GAAP measure is included on slide 2. Liquidity $980M $1,100M

Current Backlog Stands at $6.7 Billion 2026 2027 2028 Floaters Jackups 78% 55%72% Percentage of available days committed1 Backlog ($B) and Contract Coverage 5 0.4 2.6 2.2 1) Committed days on total marketed fleet of 28 rigs as of 10/26/2026. 2029-2031 1.6 13%

6 Drillships Overview Recent Highlights • BlackHawk: 1-well contract scheduled to commence in late 2027 • BlackRhino: 4-well contract scheduled to commence in late 2026 • Faye Kozack: 5-well contract scheduled to commence in mid-2027 • Globetrotter I: 2-well contract scheduled to commence in Q2 2027; additionally, well intervention contract scheduled to commence in late 2027 Firm contract period Options Fleet status report as of 10/26/2026. 2026 2027 2028 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D Noble Gerry de Souza Noble Voyager Noble Globetrotter I Noble Tom Madden Noble Sam Croft Noble Don Taylor Noble Venturer Noble Bob Douglas Noble BlackHawk Noble Valiant Noble Stanley Lafosse Noble BlackLion Noble BlackRhino Noble Viking Noble Faye Kozack Noble BlackHornet

7 Semisubmersibles and Jackups Overview Firm contract period Options Fleet status report as of 10/26/2026. 2026 2027 2028 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D Semisubmersibles Noble Deliverer Noble Discoverer Noble Claus Bachmann Noble Courage Noble Endeavor Noble Patriot Noble Innovator Noble Integrator Noble Interceptor Noble Intrepid Noble Invincible Noble Developer Jackups Recent Highlights • Interceptor: 1-well contract scheduled to commence in Q3 2027; additionally, 26-well contract scheduled to commence in late 2027 • Intrepid: 1-well contract scheduled to commence in late 2027

Financial Overview ($ millions) Quarter End 9/30/2026 Quarter End 6/30/2026 Revenue 729 720 Adjusted EBITDA1 201 212 Adjusted EBITDA Margin1 28% 30% Net Income (Loss) (117) (37) Diluted EPS (0.73) (0.23) Cash flow from operations 144 144 Capital expenditures 192 205 Free cash flow1 (48) (59) Net debt1 1,551 1,432 Net leverage1 1.9x 1.7x Liquidity2 980 1,100 1) A reconciliation to GAAP results for the current and prior periods is included on slide 10. The definition of each Non-GAAP measure is included on slide 2. 2) 9/30/2026 liquidity includes $337 million cash and cash equivalents plus $643 million RCF availability, net of Letters of Credit outstanding. 8

Revenue 2,850 – 2,900 2,800 – 2,900 Adjusted EBITDA 1 850 – 900 850 – 925 Capital Expenditures 2 680 – 705 615 – 665 2026 Guidance Update ($ millions) 9 1) The definition of each Non-GAAP measure is included on slide 2. 2) New Capital Expenditures guidance includes customer reimbursable Capital Expenditures of $65 million versus $25 million previously indicated. Denotes prior guidance

Appendix: Reconciliation to GAAP Measures $ millions 10

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Title of a 12(b) registered security.

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Name of the Exchange on which a security is registered.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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Trading symbol of an instrument as listed on an exchange.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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