NE

EX-99.1

2 exhibit991-q42025pressrele.htm

EX-99.1

Document

EXHIBIT 99.1

PRESS RELEASE

NOBLE CORPORATION PLC ANNOUNCES FOURTH QUARTER AND FULL YEAR 2025 RESULTS

•Approximately $1.3 billion in new contract awards since October fleet status report, increasing backlog to $7.5 billion.

•Completed divestiture of five jackups for $360 million; additional jackup (Noble Resolve) divestiture estimated to close in Q3 2026.

•$0.50 per share dividend declared for Q1 2026, bringing cumulative total capital returned since Q4 2022 to approximately $1.3 billion.

•Full Year 2026 guidance provided as follows: Total Revenue $2,800 to $3,000 million, Adjusted EBITDA $940 to $1,020 million, and Capital Expenditures $590 to $640 million.

HOUSTON, TEXAS, February 11, 2026 - Noble Corporation plc (NYSE: NE, “Noble”, or the “Company”) today reported fourth quarter and full year 2025 results.

Three Months Ended

(in millions, except per share amounts)December 31, 2025September 30, 2025December 31, 2024

Total Revenue$764 $798 $927

Contract Drilling Services Revenue705 757 882

Net Income (Loss)87 (21)97

Adjusted EBITDA*232 254 319

Adjusted Net Income (Loss)*14 30 91

Basic Earnings (Loss) Per Share0.55 (0.13)0.60

Diluted Earnings (Loss) Per Share0.54 (0.13)0.59

Adjusted Diluted Earnings (Loss) Per Share*0.09 0.19 0.56

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

Robert W. Eifler, President and Chief Executive Officer of Noble, stated, “Solid fourth quarter performance brought our full year 2025 Adjusted EBITDA to the upper half of the original guidance range and contributed to another year of strong free cash flow. Noble’s commercial success continues to build with the recent award of nearly 10 rig years of new bookings comprising $1.3 billion of high quality backlog. Meanwhile, we have continued to sharpen and high-grade our fleet posture and balance sheet with the announced divestitures of six jackups – collectively creating a platform of optimal focus, scale, and financial strength.”

Fourth Quarter Results

Contract drilling services revenue for the fourth quarter of 2025 totaled $705 million compared to $757 million in the prior quarter, with the sequential decrease driven by lower average utilization and dayrates. Marketed fleet utilization was 64% in the three months ended December 31, 2025, compared to 65% in the prior quarter. Contract drilling services costs for the fourth quarter were $471 million, down from $480 million in the prior quarter. Net income (loss) increased to $87 million in the fourth quarter, up from $(21) million in the prior quarter, and Adjusted EBITDA decreased to $232 million in the fourth quarter, down from $254 million in the prior quarter. Net cash provided by operating activities in the fourth quarter was $187 million, Capital

1

Expenditures were $152 million (including $18 million associated with the termination of the BOPs service agreement), and free cash flow (non-GAAP) was $35 million.

Balance Sheet and Capital Allocation

The Company's balance sheet as of December 31, 2025, reflected total debt principal value of $2 billion and cash (and cash equivalents) of $471 million. Share repurchases for 2025 totaled $20 million, and $318 million in dividends were paid during the year.

Today, Noble’s Board of Directors approved a quarterly interim dividend of $0.50 per share for the first quarter of 2026. This dividend is expected to be paid on March 19, 2026 to shareholders of record at close of business on March 4, 2026. Future quarterly dividends and other shareholder returns will be subject to, amongst other things, approval by the Board of Directors, and may be modified as market conditions dictate.

Operating Highlights and Backlog

Noble's marketed fleet of 24 floaters was 62% contracted through the fourth quarter, compared with 67% in the prior quarter, primarily due to contract rollovers on the Noble BlackRhino and Ocean Apex. Recent backlog additions since last quarter have added 9.3 rig years of total floater backlog and support renewed utilization for four currently idle rigs. Recent dayrate fixtures for Tier-1 drillships have been in the +/- $400,000 range, with 6th generation floater fixtures between the low $300,000s to low $400,000s per day.

Utilization of Noble's 11 marketed jackups was 68% in the fourth quarter versus 60% utilization during the prior quarter. Excluding the six jackups whose divestiture is completed or pending, contracted utilization of Noble’s five ultra-harsh jackups is anticipated to improve from 60% in the first quarter to 100% by early in the third quarter this year.

Subsequent to last quarter’s earnings press release, new contracts with total contract value of over $1.3 billion (including additional services and mobilization payments, but excluding extension options) include the following:

•ExxonMobil has awarded two additional rig years of backlog under the Commercial Enabling