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Investor PresentationOctober 2017

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Forward-Looking StatementsStatements contained in this investor presentation that are not historical facts are forward-looking statements within themeaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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 involving expectedfinancial performance, effective tax rate, expected expense savings, day rates and backlog, estimated rig availability; rigcommitments and contracts; contract duration, status, terms and other contract commitments; estimated capitalexpenditures; letters of intent or letters of award; scheduled delivery dates for rigs; the timing of delivery, mobilization,contract commencement, relocation or other movement of rigs; our intent to sell or scrap rigs; and general market,business and industry conditions, trends and outlook. Such statements are subject to numerous risks, uncertainties andassumptions that may cause actual results to vary materially from those indicated, including commodity pricefluctuations, customer demand, new rig supply, downtime and other risks associated with offshore rig operations,relocations, severe weather or hurricanes; changes in worldwide rig supply and demand, competition and technology;future levels of offshore drilling activity; governmental action, civil unrest and political and economic uncertainties;terrorism, piracy and military action; risks inherent to shipyard rig construction, repair, maintenance or enhancement;possible cancellation, suspension or termination of drilling contracts as a result of mechanical difficulties, performance,customer finances, the decline or the perceived risk of a further decline in oil and/or natural gas prices, or other reasons,including terminations for convenience (without cause); the cancellation of letters of intent or letters of award or anyfailure to execute definitive contracts following announcements of letters of intent, letters of award or other expected workcommitments; the outcome of litigation, legal proceedings, investigations or other claims or contract disputes;governmental regulatory, legislative and permitting requirements affecting drilling operations; our ability to attract andretain skilled personnel on commercially reasonable terms; environmental or other liabilities, risks or losses; debtrestrictions that may limit our liquidity and flexibility; tax matters including our effective tax rate; and cybersecurity risksand threats. In addition to the numerous 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 ofOperations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports onForm 10-Q, which are available on the SEC’s website at www.sec.gov or on the Investor Relations section of our websiteat www.enscoplc.com. Each forward-looking statement speaks only as of the date of the particular statement, and weundertake no obligation to publicly update or revise any forward-looking statements, except as required by law.

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Value Proposition

Capitalizing on Opportunities

Market Conditions

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Commodity prices have recovered to levels above some offshore project breakevens

Commodity Price

Source: FactSet; Statoil 7 February 2017 Capital Markets Day; Repsol 23 February 2017 earnings conference call; Chevron 29 April 2016 earnings conference call; Petrobras CEO Pedro Parente via Bloomberg 10 October 2016; Shell 2 February 2017 earnings conference call; Maersk 8 February 2017 earnings conference call

$30

$50

$70

$90

$110

Jan-

14

Apr-1

4

Jul-1

4

Oct

-14

Jan-

15

Apr-1

5

Jul-1

5

Oct

-15

Jan-

16

Apr-1

6

Jul-1

6

Oct

-16

Jan-

17

Apr-1

7

Jul-1

7

Oct

-17

Brent Crude$/bbl

Avg. Offshore Breakeven Oil Prices

$27$33

$20 - $40 < $40 < $40 < $40

$/bbl

~65%

$45 - $55

Pre-FID Norwegian

Shelf Projects

Brownfield US GOM

Deepwater Projects

Pre-FID Deepwater

Projects

Pre-FID Shallow-

Water Project

Pre-FID Pre-Salt Projects

Acquired Maersk portfolio

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Customer activity is increasing

Source: Ensco analysis

Recent increase in customer activity…

• Broad-based pickup in customer tenders and inquiries year over year– Number of inquiries and rig years required for

these opportunities has increased compared to a year ago

– Outstanding multi-year opportunities for jackups in markets such as the Middle East along with shorter-term work in U.S. GOM

– Customers contracting high-specification floaters for longer terms to take advantage of lower day rate environment in addition to shorter-term work around existing infrastructure

• Underinvestment in recent years will drive a greater need for offshore drilling in the years ahead– Offshore production is ~30% of global supply

…that match Ensco’s diverserig fleet and capabilities

• Jackups provide exposure to shorter-cycle, shallow-water projects

• Floaters positioned to capture activity in deeper water including:– Infill programs with shorter duration– Plug & abandonment and well intervention– Larger, more complex development &

exploration projects

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Increasing Customer Activity hasLed to Improved Utilization

• Utilization of offshore rigs has stabilized since reaching bottom in late 2016 and increased modestly during 2017 after nearly three years of declines

• Recent improvements in both total and marketed utilization are due in part to a higher number of contracted rigs

Source: IHS Markit RigPoint as of October 2017

Jackup + Floater Utilization

50%

60%

70%

80%

90%

100%

Jan-

14

Apr-1

4

Jul-1

4

Oct

-14

Jan-

15

Apr-1

5

Jul-1

5

Oct

-15

Jan-

16

Apr-1

6

Jul-1

6

Oct

-16

Jan-

17

Apr-1

7

Jul-1

7

Oct

-17

Worldwide Utilization

Total Marketed

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High-Spec Assets and Established Well-Capitalized Drillers Winning Higher Percentage of New Work

0%

10%

20%

30%

40%

50%

60%

70%

Percentage of New Contracts Awarded

% High-Spec Rigs % Established Well-Capitalized Drillers

• High-specification rigs are winning a significantly higher percentage of new contracts as customer demand is increasing

• Approximately 22% of global supply is owned by established well-capitalized drillers, which have won nearly 40% of new contracts awarded during 2017

Jackup + Floater Contract Awards

Source: IHS Markit RigPoint as of September 2017Percentage of New Contracts Awarded is calculated on a trailing six month basisHigh-Spec includes fixtures classified by IHS as new mutual and with the following market categories: Drillship > 7500, Drillship Harsh Deepwater, Semi > 7500, Semi Harsh Deepwater, Semi Harsh High Spec, Semi Harsh Standard, JU 361-400 IC, JU >400 IC, JU Harsh Standard, JU Harsh High Spec.Established Well-Capitalized Drillers include ESV, RIG, DO, NE and RDC

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Utilization to Benefit fromAttrition of Older Rigs

~55 more floaters could be candidates for retirementbased on age and contract expirations

Retired to Date91 floaters retired

since 3Q14

Currently Idle~30 floaters >30 years of age idle without follow-

on work

Expiring Contracts~25 floaters >30 years of

age have contracts expiring before YE18 without follow-

on work

Source: IHS Markit RigPoint as of October 2017Note: ‘Retired’ includes scrapped rigs, announced scrapping and rigs converted to non-drilling units; Competitive jackups are independent leg cantilever rigs.

Up to ~160 additional jackups could be retired as expiring contracts and survey costs lead to the removal of older rigs from drilling supply

Retired to Date33 competitivejackups retired

since 3Q14

Currently Idle~100 competitive

jackups >30 years of age idle without follow-

on work

Expiring Contracts~60 jackups >30 years of

age have contracts expiring before YE18 without follow-

on work

FLO

ATER

SJA

CKU

PS

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Capitalizing on Opportunities

Market Conditions

Value Proposition

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Value Proposition

Ideal Platform For Optimizing Offshore Drilling Assets

Broad Global Footprint with Diverse Customer Base

Solid FinancialPosition

High-QualityRig Fleet

Safety & Operational Excellence

Systems, Processes & Intellectual Property

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Safety & Operational Excellence

• Critical to customers, in particular for complex well programs

• Safety metrics consistently better than industry averages

• Improved safety and operational results each successive year during industry downturn

• 1% improvement in operational utilization increases annual revenue by more than $20 million3

0.00.10.20.30.40.50.60.7

2013 2014 2015 2016 YTD 2017

Total Recordable Incident Rate1

Industry Ensco

1 IADC industry statistics as of 2Q172 Operational utilization is adjusted for uncontracted rigs and planned downtime3 Based on 2016 annual revenue

Safety and Operational Performance ProvidesCompetitive Advantage and Benefits Financial Results

95%95%

96%

99% 99%

2013 2014 2015 2016 YTD 2017

Fleet-Wide Operational Utilization2

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Strong performance has driven industry-leading customer satisfaction

Rated #1• Total Satisfaction• Health, Safety & Environment• Performance & Reliability• Job Quality• Ultra-Deepwater Wells• Deepwater Wells• Shelf Wells• Special Applications• Horizontal & Directional Wells• Latin America & Mexico• Middle East & North Africa• Sub-Saharan Africa

consecutive years rated #1 in total satisfaction among offshore drillers7

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Systems, Processes &Intellectual Property

1Includes provisional and non-provisional patent filings completed or in progress since 1Q15

improvement in subsea equipment-related downtime

during 2016

patent filingssince 20151

25Intellectual Property

Systems &Processes 80%

Technology and Innovation Improve OperationalResults and Augment Service Offering

Canti-Leverage AdvantageSM

PinSafe System

Ensco Asset Management System

Reliability-Based Maintenance

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High-Quality Rig Fleet

Diverse Fleet Capable of Meeting a Broad Spectrum of Customers’ Well Program Requirements

Ultra-DeepwaterDrillships

Versatile Semisubmersibles

PremiumJackups

Note: Includes rigs under construction, excludes managed rigs and rigs announced for retirement

Total Rigs: 1412 36

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North Sea

Global Footprint withDiverse Customer Base

Mediterranean

Note: Certain customers may not currently have backlog

Customer Base Spans Majors, National Oil Companies and Independents

West Africa Middle East

Southeast Asia

Gulf of Mexico

Brazil

Australia

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Solid Financial Position

Pro Forma Financial Position 30 September 2017

• $2.9 billion of liquidity– $0.9 billion of cash and short-term

investments– $2.0 billion revolving credit facility

• $3.2 billion of contract revenue backlog

• $3.8 billion of net debt & $30% net debt-to-capital ratio1

• Customers want financially strong counter-parties that are able to:– Maintain rigs– Provide stable operations– Fulfill long-term contracts

• Flexibility to make selective investments in:– Technology & innovation– Opportunistic asset

enhancements & high-grading

Strong Balance Sheet Provides Financial Flexibility

Source: Company Filings1 Net debt is a non-GAAP financial measure and should be considered as a supplement to, and not as a substitute for, or superior to, financial measures prepared in accordance with GAAP. Net debt-to-capital is calculated as follows: long-term debt of $4.7 billion, less $0.9 billion of cash and short-term investments, divided by the sum of long-term debt of $4.7 billion plus shareholders’ equity of $9.1 billion, minus $0.9 billion of cash and short-term investments.

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2044

Manageable Debt Maturities in Light of Strong Balance Sheet & Liquidity

$451$270 $955

$669

$850

2017 2018 2019 2020 2021 2022 2023 2024 2025 2027 2040

$300

$ millions

$1,001

$150

$1,805

Liquidity

$927

$2,250

Avai

labl

e R

evol

ver

Cas

h &

ST In

v.

$2,927

Convertible Senior NotesSenior Notes

<$1.0B of Maturities to 2024

Source: Company Filings

$2,000

$238

Cash & Short-Term Investments Revolving Credit Facility

Potential Sources of Liquidity• Revenue backlog: $3.2B of contracted revenue

backlog• Revolving credit facility: $2.0B of liquidity through

Sept. 2019 and $1.2B of liquidity from Oct. 2019 to Sept. 2022

• Secured debt: no secured debt in capital structure• Asset monetization: more than $300 million of

proceeds generated from asset sales since beginning of 2014

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Value Proposition

Market Conditions

Capitalizing on Opportunities

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Higher Levels of Customer Activity HaveLed to Increased Contract Awards

• New contracts have added more than 20 rig years2 to Ensco’s backlog– Diverse rig fleet and global

footprint have led to floater and jackup contracts across several regions

– Won nearly 20% of all ultra-deepwater contracts year to date

– Four drillship contracts awarded during third quarter alone

21%

11%

6%

4% 4%4% 4%

Ensco Company 1 Company 2 Company 3 Company 4 Company 5 Company 6

Percentage of New ContractsAwarded YTD 20171

Source: IHS Markit RigPoint as of 30 September 2017; Ensco analysisNote: Companies with most new contract awards include Aban Offshore, COSL, Noble, Paragon, Petroserv and Shelf Drilling1Calculated by dividing the number of rig years contracted by Ensco for fixtures classified as New Mutual in IHS Markit RigPoint (approximately 30) by the corresponding industry-wide total (approximately 141)2Calculated based on date of contract execution; number of rig years awarded differs from totals in industry databases due to timing delay between date of contract execution and public disclosure of new contracts in certain cases.

As Customer Activity Increases, Ensco Has WonMore New Contracts1 Than Any Offshore Driller

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• Strong operational & safety track record

• #1 in customer satisfaction

Why invest in Ensco?

• Substantial liquidity• Manageable debt

maturities

• High-specification fleet• Investments in

technology and innovation

Ensco is well positioned to meet higher levels ofcustomer demand and capitalize on the market recovery

Superior Performance

DifferentiatedAssets

FinancialStrength

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