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Investor Presentation

October 2014

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Forward-Looking Statements

Statements made today that are not historical facts are forward-looking statements within the meaningof Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. Forward-looking statements include words or phrases such as “anticipate,” “believe,” “estimate,”“expect,” “intend,” “plan,” “project,” “could,” “may,” “might,” “should,” “will” and similar words andspecifically include statements regarding the timing of delivery, mobilization, contract commencement,relocation or other movement of rigs. Such statements are subject to numerous risks, uncertainties andassumptions that may cause actual results to vary materially from those indicated, includinggovernmental regulatory, legislative and permitting requirements affecting drilling; downtime and otherrisks associated with offshore rig operations, relocations, severe weather or hurricanes; possiblecancellation or suspension of drilling contracts as a result of mechanical difficulties, performance orother reasons; risks inherent to shipyard rig construction, repair, maintenance or enhancement; andactual contract commencement dates. In addition to the numerous factors described above, you shouldalso carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussionand Analysis of Financial Condition and Results of Operations” in Part II of our most recent annualreport on Form 10-K, as updated in our subsequent quarterly reports on Form 10-Q, which are availableon the SEC’s website at www.sec.gov or on the Investor Relations section of our website atwww.enscoplc.com. Each forward-looking statement speaks only as of the date of the particularstatement, and we undertake no obligation to publicly update or revise any forward looking statements,except as required by law.

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Offshore Drilling Revenues

$20

$0

$80

$60

$40

2003 200920082007 2013200620052004 201220112010

Floaters: RevenuesOverall: Revenues

Jackups: Revenues

Revenue CAGR(’03‐’13)

Overall 19%

Floaters 22%

Jackups 14%

Global Offshore Contract Drilling Market (2003–2013)

Revenu

es (in $ B)

Note: 1 Revenue based on total rig fleet and calculated as # of rigs * average utilization * average day ratesSource: RigPoint

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$20

US and Jackup focusedPlus presence in adjacent services

Global expansionGlobal offshore drilling

‘87 ‘89 ‘91 ‘99 ‘03 ‘05 ‘07 ‘09 ‘13‘93 ‘95 ‘97 ‘01 ‘11 Today

Ensco’s Evolution

Successful expansion into global deepwater drillingLeader in global offshore 

drilling

Ensco’s growth trajectory (1987 – 2014)

$70

$60

$50

$40

$30

$10

$0

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Current Market

Newbuilds

Floaters JackupsContracted 268 373Uncontracted 19 25Warm Stacked 9 6Cold Stacked 1 0Total 297 404

Marketed Utilization 90% 92%

Under Construction 52 96On Order / Planned 35 32Total 87 128

Contracted 56% 9%

Uncontracted 44% 91%

ActiveFleet

Source: IHS-ODS Petrodata as of 29 October 2014; competitive marketed floaters and jackups; jackups are independent leg cantilever rigs

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Current Jackup Market

• Day rates have held up well in face of oncoming supply

• Healthy demand from diverse customer base

– North Sea and Middle East markets particularly strong

– NOC growth has stabilized demand

• Shallow water drilling is profitable at current commodity price levels

• New technology facilitates drilling more complex wells economically

• Must be cognizant of new supply

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Newbuild Jackup Order Book

Source: IHS-ODS Petrodata as of 29 October 2014; marketed competitive jackups

128 Total

71Uncontracted,

Non-EstablishedDrillers

45Uncontracted, Established

Drillers

12Contracted, Established

Drillers

35%

9%

56%

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Jackup Supply

347 378 403 370

57 74

112 162

Oct. 2014 Oct. 2015 Oct. 2016 Oct. 2017< 35 years old >= 35 years old

2% CAGR

42% CAGR

Source: IHS-ODS Petrodata as of 29 October 2014; marketed competitive independent leg cantilever jackups

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Current Floater Demand

• Brazil

– market undersupplied in ultra-deepwater / tender activity increasing

– more customers entering market following lease purchases

– midwater demand has declined

– new rig supply from Brazil has repeatedly been delayed

– Petrobras committed to contracting on the international market to address any shortfall

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Current Floater Demand

• Rest of World

– pull back in contracting, especially IOCs

– pressure on customers to tighten capex spending as returns on capital have declined

– production levels of Majors as a group below 2010 levels

– fundamentals support mid- to long-term growth

• commodity prices, positive GDP forecasts, lease sales, discoveries

– expanding / emerging markets

• West Africa, East Africa and Mexico

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Newbuild Floater Order Book

Source: IHS-ODS Petrodata as of 29 October 2014; marketed competitive floaters

87 Total

38Uncontracted

49Contracted56% 44%

12

Floater Supply

241 270 287 297

56 56

60 71

Oct. 2014 Oct. 2015 Oct. 2016 Oct. 2017< 35 years old >= 35 years old

7% CAGR

Source: IHS-ODS Petrodata as of 29 October 2014; marketed competitive floaters

19% of current supply is 35+ years old

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Ensco is Well Positioned

• Fleet highgrading

– 7 newbuild rigs under construction with differentiated designs

– major upgrade investments last three years will benefit 2015 and beyond

– mooring capability to be added to ENSCO 8500 Series® rigs

– 5 floaters held-for-sale in 2Q14; 18 rigs sold since beginning of 2010

• Efficiency / rig uptime improvements

– vendor quality management

– training and education

– 96% operational utilization in 3Q14

• Expense management discipline

– leading net income margins among major competitors

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Ensco is Well Positioned

• Capex discipline

– total capex peaks in 2015 driven by newbuilds

– upgrade capex to decline sharply next year

– drillship option not exercised

• Global presence / diverse customer base

– operations across six continents

– extensive customer relationships: NOCs, Majors, IOCs

• 2015 results to benefit from newbuilds and upgrades

– full year impact of three ENSCO 120 Series jackups & two upgraded semis

– partial year impact of two new drillships & one upgraded semi

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Highgrading Actions

• Fleetwide review in light of challenging floater market conditions

• Five floaters reclassified as held-for-sale / cold stacked

– quickly reduce expenses and redeploy capital

– mostly older, midwater floaters

• 9 year average age for go-forward floater fleet

• Seven jackups sold year to date for $70 million gain

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Newbuild Delivery Schedule

2014.5 2015.5 2016.5

ENSCO DS-8

ENSCO DS-9

ENSCO 110

ENSCO DS-10

ENSCO 123

ENSCO 140

ENSCO 141

Drillships Premium jackups

3Q14 4Q14

Contracted

3Q15 4Q151Q15 2Q15 3Q16 4Q161Q16 2Q16

Contracted

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10 11

PREMIUMJACKUPS

ULTRA & DEEP WATER DRILLSHIPS

MOOREDSEMISUBMERSIBLES

DYNAMICALLY POSITIONED SEMISUBMERSIBLES

Note: Includes rigs under construction or on order and excludes rigs in discontinued operations (29 October 2014)

High Quality Fleet

66 Rig Fleet

3 42

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Differentiation

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Operational Utilization

Note: Operational utilization for rigs in continuing operations. Operational utilization adjusts for uncontracted time and planned out of service time including surveys and upgrades.

2013 YTDSep. 14

98%99%

Jackups

2013 YTDSep. 14

92%94%

Floaters

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• Leading-edge safety management systems

• Major competitive advantage; especially versus non-established drillers

Safety, Health & Environment

0.0

0.2

0.4

0.6

0.8

1.0

1.2

2008 2009 2010 2011 2012 2013 YTD2014

Ensco Industry

Total RecordableIncident Rate

Note: 2014 TRIR for Industry is as of 2Q14

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Net Income Margin

Source: Thomson One; sum of trailing eight quarters of net income divided by sum of trailing eight quarters of revenue; DO, NE & ESV updated as of 3Q14 results

ESV SDRL DO RIG NE RDC

30%

22%20% 18% 17%

14%

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SDRL RIG NE RDC DO ESV

55%

38% 37% 36% 33% 33%

Leverage Ratios

Strong Financial Position

Source: Bloomberg; total debt-to-total capital ratios as of 30 June 2014 financial filings, DO, NE & ESV updated as of 30 September 2014 filings

• $11 billion of contracted revenue backlog

• Baa1/BBB+ ratings from Moody’s/S&P

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Dividend Growth

Nov. 2009 Apr. 2010 Feb. 2012 Feb. 2013 Nov. 2013

$0.10

$1.40 $1.50

$2.00

$3.00

Note: Dividend announcement date; dividend per share annualized

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SDRL DO RIG NE ESV RDC

133%

113%

65%51% 51%

19%

Source: Thomson Reuters; most recent declared quarterly dividend annualized divided by 2014 earnings per share mean estimate for dividend-paying offshore drillers

Payout Ratios

25*Note: 4Q14 total capex estimated to be approximately $400 million**Note: Approximately $200 million of 2014 rig enhancement capex to be funded by customers

Capital Expenditures

2014 2015 2016 2017

0.75

1.60

0.40

0.56

0.34

Newbuild construction Rig enhancements Sustaining

$ billions

Sustaining

Enhancements

Newbuild

Note: Final rig enhancement and sustaining project capital expenditure budgets for 2015 –2017 TBD once budgets are completed

**

~$2.0B

$1.65B*

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• Leader in customer satisfaction – four consecutive years

• High quality fleet

• Technology advantages, e.g. ENSCO 120 Series jackups and Samsung GF 12,000 drillships

• Highest net income margins among major competitors

• Strongest balance sheet in peer group

• $11 billion of contracted revenue backlog; record jackup backlog

• Top 10 dividend yield in S&P 500

Ensco’s Strengths

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• Current floater market is challenging; supply pressure in jackup market

• Mid- to long-term outlook remains positive

• Ensco is well positioned – use strengths to navigate market conditions

• Pursue opportunities for growth & leverage global footprint

– expand customer base & enter new markets

• Disciplined capital management

Summary

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