[{"_1":2,"_3":-5,"_4":-5},"loaderData",{"_5":6,"_7":8},"actionData","errors","root",{"_101":102},"en-item",{"_9":10,"_10":11},"kind","item",{"_12":13,"_14":15,"_16":17,"_18":19,"_20":21,"_22":23,"_24":25,"_26":27,"_28":29,"_30":31,"_32":31,"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":-5,"_48":49,"_50":-5,"_51":-5,"_52":53,"_54":55,"_56":57,"_58":42,"_59":42,"_60":61,"_62":42,"_63":64},"id","xaavr5plb736f7420lpiu9r3h","revision",3,"title","Noble Corporation plc提交截至2026年9月30日季度报告：第三季度净亏损1.170亿美元，前九个月净亏损3,298.3万美元","originalTitle","Noble Corp plc (0001895262) (Filer)","summary","Noble Corporation plc提交截至2026年9月30日的季度报告节选。2026年第三季度营收7.288亿美元、净亏损1.170亿美元，摊薄每股亏损0.73美元；前九个月营收22.341亿美元、净亏损3,298.3万美元，摊薄每股亏损0.21美元。","reason","节选呈现Noble第三季度及前九个月亏损、营收下降和现金流变化，并披露债务再融资、资本支出与股息安排。","source",{"_12":92,"_93":94,"_9":95,"_96":42,"_97":98,"_99":100},"links",{"_89":90,"_78":91},"publishedAt","2026-10-27T16:19:22.000Z","discoveredAt","2026-10-27T16:24:03.790Z","timelineAt","category","ai-products","tags",[84,85,86,87,88],"stockSymbols",[83],"score",71,"selected",true,"channel","news","story",{"_73":74,"_16":75},"x","readingMode","full","author","language","body",{"_64":77,"_78":-5,"_79":80,"_81":82},"outline",[],"relatedStories",[76],"indexable","markdownAvailable","group",{"_65":66,"_45":67,"_68":69,"_70":71,"_72":71},"hasTranslation","bodyLanguage","zh","factId","fTf5agQ5RHtY",{"_73":74,"_16":75},"reportCount",2,"additionalSourceCount",1,"developmentCount","publicId","1bcbb7f0-3500-4d5e-b32a-50194ec7a553","Noble公布第三季度亏损及新增合同",{"_73":74,"_16":75},"

美国

证券交易委员会

华盛顿特区 20549

_________________________________________________________________________________________________

10-Q 表

_____________________________________________________________________________________________________


☑	根据 1934 年《证券交易法》第 13 或 15(d) 条提交的季度报告

季度截至日期：2026年9月30日

或


☐	根据 1934 年《证券交易法》第 13 或 15(d) 条提交的过渡报告

过渡期自至

_____________________________________________________________________________________________________

委员会档案编号：001-41520

Noble Corporation plc

（注册人章程中指定的确切名称）

_____________________________________________________________________________________________________


英格兰和威尔士		98-1644664
（注册成立或组织所在州或其他司法管辖区）		（美国国税局雇主识别号码）

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

（主要行政办公室地址）（邮政编码）

注册人电话号码（含区号）：(281) 276-6100

_____________________________________________________________________________________________________

_______________________________________________________________________________________________

根据该法第 12(b) 条注册的证券：


各类别名称	交易代码	注册交易所名称
A 类普通股，每股面值 $0.00001	NE	纽约证券交易所
Noble Corporation plc 第 1 批认股权证	NE WS	纽约证券交易所
Noble Corporation plc 第 2 批认股权证	NE WSA	纽约证券交易所

_____________________________________________________________________________________________

请勾选说明注册人是否 (1) 已在此前 12 个月（或注册人被要求提交此类报告的较短期间）内提交《1934 年证券交易法》第 13 或 15(d) 条要求提交的所有报告，以及 (2) 在过去 90 天内一直受此类提交要求约束。是 ☑ 否 ☐

请勾选说明注册人是否已在此前 12 个月（或注册人被要求提交此类文件的较短期间）内，以电子方式提交根据 S-T 条例第 405 条要求提交的所有交互式数据文件。是 ☑ 否 ☐

请勾选说明注册人是否为大型加速申报公司、加速申报公司、非加速申报公司、较小申报公司或新兴成长型公司。参见《交易法》规则 12b-2 中“大型加速申报公司”“加速申报公司”“较小申报公司”和“新兴成长型公司”的定义。

大型加速申报公司

☑

加速申报公司

☐

非加速申报公司

☐

较小申报公司

☐

新兴成长型公司

☐

如果是新兴成长型公司，请勾选说明注册人是否选择不使用《交易法》第 13(a) 条规定的、遵守任何新颁布或修订财务会计准则的延长过渡期。 ☐

请勾选说明注册人是否为壳公司（定义见《交易法》规则 12b-2）。是 ☐ 否 ☑

请用勾选标记说明，注册人是否已在法院确认的计划下分配证券后，提交《1934年证券交易法》第12、13或15(d)条要求提交的所有文件和报告。是 ☑ 否 ☐

截至2026年10月 23日的流通股数：Noble Corporation plc - 159,661,815

页码

第一部分

财务信息

第1项

财务报表（未经审计）

截至 2026年9月 30日和2025年12月31日的简明合并资产负债表

截至 2026年和2025年9月 30日止三个月和九个月的简明合并经营报表

截至三个月和九个月 9月 30日，2026年和2025年

截至 2026年9月 30日止九个月的简明合并现金流量表

截至 2026年和2025年9月 30日止三个月和九个月的简明合并权益变动表

第2项

第3项

第4项

第二部分

第1项

第1A项

第2项

第5项

第6项

第一部分：财务信息

第1项：财务报表

NOBLE CORPORATION plc及子公司

简明合并资产负债表

（单位：千，股份数据除外）

（未经审计）


	2026年9月30日		2025年12月31日
资产
流动资产
现金及现金等价物	$	337,186			$	471,399
应收账款净额	611,981			589,597
应收税款	42,275			78,827
预付费用及其他流动资产	271,758			132,459
流动资产总额	1,263,200			1,272,282

物业及设备，按成本计	7,159,641			6,639,045
累计折旧	(1,646,785)			(1,236,222)
物业及设备净额	5,512,856			5,402,823

其他资产	382,077			854,662
资产总额	$	7,158,133			$	7,529,767
负债及权益
流动负债

应付账款	$	369,290			$	298,751
应计工资及相关成本	59,298			81,754
应付税款	77,340			83,256
应付利息	56,439			35,827
其他流动负债	154,388			260,141
流动负债总额	716,755			759,729
长期债务	1,888,681			1,975,791
递延所得税	6,530			5,402

其他负债	257,938			239,995
负债总额	2,869,904			2,980,917
承诺和或有事项（附注 8）
股东权益
普通股，面值 $0.00001；截至 2026 年 9 月 30 日和 2025 年 12 月 31 日，已发行普通股分别为 159,661,505 股和 158,853,799 股	1			1
额外实缴资本	4,273,129			4,257,059
留存收益	9,600			286,630
累计其他综合收益（亏损）	5,499			5,160
股东’ 权益总额	4,288,229			4,548,850
负债和权益总额	$	7,158,133			$	7,529,767

请参阅未经审计的简明合并财务报表附注。

NOBLE CORPORATION plc 及其子公司

简明合并经营报表

（单位：千，股份金额除外）

（未经审计）


	截至 9 月 30 日的三个月		截至 9 月 30 日的九个月
	2026		2025		2026		2025
营业收入
合同钻井服务	$	683,650			$	757,405		$	2,105,647	$	2,401,910
可报销费用及其他	45,114			40,612			128,495		119,246
	728,764			798,017			2,234,142		2,521,156
营业成本和费用
合同钻井服务	468,516			479,894			1,364,950		1,444,420
可报销费用	32,026			30,547			96,246		90,691
折旧和摊销	143,432			147,260			420,354		437,482
一般和行政费用	27,286			33,301			84,278		103,485
合并和整合成本	—			2,145			2,615		22,367
出售经营资产的收益（亏损），净额	(2,579)			(6,232)			(92,437)		(10,983)
减值损失	—			60,702			42,270		60,702
	668,681			747,617			1,918,276		2,148,164
营业收入（亏损）	60,083			50,400			315,866		372,992
其他收入（费用）
利息费用（扣除资本化金额）	(34,990)			(40,490)			(111,752)		(120,954)

债务清偿收益（亏损），净额	—			—			(17,603)		—
利息收入及其他，净额	(9,070)			726			2,791		7,275
税前收入（亏损）	16,023			10,636			189,302		259,313
所得税收益（拨备）	(133,047)			(31,731)			(222,285)		(129,233)
净收入（亏损）	$	(117,024)			$	(21,095)		$	(32,983)	$	130,080
每股基本收益（亏损）	$	(0.73)			$	(0.13)		$	(0.21)	$	0.82
每股摊薄收益（亏损）	$	(0.73)			$	(0.13)		$	(0.21)	$	0.80

请参阅未经审计的简明合并财务报表附注。

NOBLE CORPORATION plc 及其子公司

简明合并综合收益（亏损）表

（单位：千）

（未经审计）


	截至 9 月 30 日的三个月		截至 9 月 30 日的九个月
	2026		2025		2026		2025
净收入（亏损）	$	(117,024)			$	(21,095)		$	(32,983)	$	130,080
其他综合收益（亏损）


养老金及其他退休后福利计划资产和福利义务的净变动，扣除税收收益（拨备）后，2026 年和 2025 年截至 9 月 30 日的三个月分别为 $10 和 $9，截至 2026 年和 2025 年 9 月 30 日的九个月分别为 $2,252 和 $27。	35			(71)			339		475

其他综合收益（亏损），净额	35			(71)			339		475
综合收益（亏损）	$	(116,989)			$	(21,166)		$	(32,644)	$	130,555

请参阅未经审计的简明合并财务报表附注。

NOBLE CORPORATION plc 及其子公司

简明合并现金流量表

（单位：千）

（未经审计）


	截至 9 月 30 日的九个月
	2026		2025
经营活动产生的现金流量
净收入（亏损）	$	(32,983)			$	130,080
将净收入（亏损）调节为经营活动产生的净现金流量的调整项目：
折旧和摊销	420,354			437,482
无形资产及合同负债摊销，净额	—			(8,366)

债务清偿收益（亏损），净额	17,603			—
出售经营资产的收益（亏损），净额	(92,437)			(10,983)
减值损失	42,270			60,702
递延所得税	149,221			(70,454)
股份支付薪酬摊销	22,721			23,087
其他成本，净额	14,758			(4,492)
经营性资产和负债的净变动	20,409			207,497
经营活动提供（使用）的现金净额	561,916			764,553
投资活动产生的现金流量
资本支出	(500,362)			(367,776)
保险索赔所得款项	1,584			22,201

资产处置所得款项，净额	216,000			101,898
投资活动提供（使用）的现金净额	(282,778)			(243,677)
筹资活动产生的现金流量
债务发行	800,000			—


偿还债务	(850,000)			—
债务清偿成本	(40,727)			—
债务发行成本	(17,642)			—
认股权证行权	3,267			41
股份回购	—			(20,000)
股息支付	(243,090)			(240,442)
与员工股票交易相关的预扣税	(9,918)			(9,713)
融资租赁付款	(63,624)			(18,525)

筹资活动提供（使用）的现金净额	(421,734)			(288,639)
现金、现金等价物及受限现金净增加（减少）额	(142,596)			232,237
期初现金、现金等价物及受限现金	479,960			252,279
期末现金、现金等价物及受限现金	$	337,364			$	484,516

请参阅未经审计的简明合并财务报表附注。

NOBLE CORPORATION plc 及子公司

简明合并权益变动表

（单位：千）

（未经审计）


	股份	额外实收资本		留存收益（累计亏损）	累计其他综合收益（亏损）		权益总额
	余额	面值
截至2026年6月30日的余额	159,641		$	1		$	4,270,647		$	207,830	$	5,464	$	4,483,942
员工相关权益活动
股份支付薪酬摊销	—		—		2,466			—		—	2,466
发行股份支付薪酬	9		—		—			—		—	—
因权益交易预扣税款的股份	—		—		(198)			—		—	(198)
认股权证行权	12		—		214			—		—	214

股息	—		—		—			(81,206)		—	(81,206)
净利润（亏损）	—		—		—			(117,024)		—	(117,024)
其他综合收益（亏损），净额	—		—		—			—		35	35
截至2026年9月30日的余额	159,662		$	1		$	4,273,129		$	9,600	$	5,499	$	4,288,229

截至2025年12月31日的余额	158,854		$	1		$	4,257,059		$	286,630	$	5,160	$	4,548,850
员工相关权益活动
股份支付薪酬摊销	—		—		22,721			—		—	22,721
发行股份支付薪酬	523		—		—			—		—	—
因权益交易预扣税款的股份	—		—		(9,918)			—		—	(9,918)
认股权证行权	285		—		3,267			—		—	3,267

股息	—		—		—			(244,047)		—	(244,047)
净利润（亏损）	—		—		—			(32,983)		—	(32,983)
其他综合收益（亏损），净额	—		—		—			—		339	339
截至2026年9月30日的余额	159,662		$	1		$	4,273,129		$	9,600	$	5,499	$	4,288,229

请参阅未经审计的简明合并财务报表附注。

NOBLE CORPORATION plc 及子公司

简明合并权益变动表（续）

（单位：千）

（未经审计）


	股份	额外实收资本		留存收益（累计亏损）	累计其他综合收益（亏损）		权益总额
	余额	面值
截至2025年6月30日的余额	158,823		$	1		$	4,242,337		$	381,474	$	4,515	$	4,628,327
员工相关权益活动
股份支付薪酬摊销	—		—		7,513			—		—	7,513
发行股份支付薪酬	23		—		—			—		—	—
因权益交易预扣税款的股份	—		—		(266)			—		—	(266)
认股权证行权	—		—		3			—		—	3

股息	—		—		—			(80,297)		—	(80,297)
净利润（亏损）	—		—		—			(21,095)		—	(21,095)
其他综合收益（亏损），净额	—		—		—			—		(71)	(71)
截至2025年9月30日的余额	158,846		$	1		$	4,249,587		$	280,082	$	4,444	$	4,534,114

截至2024年12月31日的余额	158,947		$	1		$	4,236,172		$	411,244	$	3,969	$	4,651,386
员工相关权益活动
股份薪酬摊销	—		—		23,087			—		—	23,087
发行股份薪酬	635		—		—			—		—	—
为股权交易预扣的税款股份	—		—		(9,713)			—		—	(9,713)
认股权证行权	1		—		41			—		—	41
股份回购	(737)		—		—			(20,000)		—	(20,000)
股息	—		—		—			(241,242)		—	(241,242)
净利润（亏损）	—		—		—			130,080		—	130,080
其他综合收益（亏损），净额	—		—		—			—		475	475
截至2025年9月30日的余额	158,846		$	1		$	4,249,587		$	280,082	$	4,444	$	4,534,114

请参阅未经审计的简明合并财务报表附注。

NOBLE CORPORATION plc及子公司

未经审计的简明合并财务报表附注

（除非另有说明，表格中的金额和股份数量均以千为单位，每股数据除外）

附注1 — 组织和列报基础

Noble Corporation plc是一家根据英格兰和威尔士法律注册成立的公众有限公司（“Noble”、“公司”或“我们”），是石油和天然气行业领先的海上钻井承包商。我们通过全球移动式海上钻井平台船队，为国际石油和天然气行业提供合同钻井服务。Noble及其前身自1921年以来一直从事石油和天然气井的合同钻探。截至本报告提交之日，我们的船队共有29座钻井平台，包括24座浮式平台和5座自升式平台（不包括目前根据光船租赁协议运营的某些平台）。

我们将合同钻井业务作为一个单一可报告分部——合同钻井服务进行报告，这反映了我们的业务管理方式。构成我们海上钻井平台船队的移动式海上钻井平台在全球合同钻井服务市场运营，并且由于客户需求变化，常被调配至不同地区。我们的客户主要是全球大型综合性、独立以及政府所有或控制的石油和天然气公司。

Noble随附的未经审计简明合并财务报表根据美国证券交易委员会（“SEC”）关于10-Q表季度报告的规则和条例编制。因此，根据这些规则和条例，按照美国公认会计原则编制的财务报表通常包含的某些信息和披露已予以简化或省略。未经审计财务报表以持续经营为基础编制，并反映了管理层认为为公允列报中期财务状况和经营成果所必需的所有调整，且其编制基础与年度经审计合并财务报表一致。所有此类调整均为经常性调整。本报告列示的2025年12月31日简明合并资产负债表摘自2025年12月31日经审计合并财务报表。阅读这些中期财务报表时，应结合Noble提交的截至2025年12月31日年度10-K表年度报告中所载的经审计合并财务报表及附注。中期经营成果不一定代表全年预期成果。随附表格和脚注中的金额均以千为单位，除非另有说明。

附注2 — 会计公告

已采纳的会计准则

本季度未采纳任何新的会计准则。

近期发布的会计准则

2025年12月，FASB发布了 ASU No. 2025‑12，《编纂改进》。该 ASU 包含旨在澄清或改进《会计准则编纂》中各个领域的修订。修订适用于2026年12月15日之后开始的年度报告期间，以及这些年度报告期间内的中期报告期间。允许提前采用。本公司预计采用该 ASU 不会对合并财务报表产生重大影响。

2024年11月，FASB发布了 ASU No. 2024-03，《利润表——综合收益报告——费用分类披露（主题220-40）：利润表费用分类》（“Update 2024-03”），该准则要求公司对经营报表中的若干相关费用类别以及财务报表附注披露更多信息。Update 2024-03适用于2026年12月15日之后开始的年度期间，以及2027年12月15日之后开始的中期期间；允许提前采用，可仅适用于生效日之后报告期间发布的财务报表，也可追溯适用于财务报表中列报的以前期间。本公司预计采用该 ASU 不会对合并财务报表产生重大影响。

NOBLE CORPORATION plc 及其子公司

未经审计的简明合并财务报表附注

（除非另有说明，表格中的美元和股份金额均以千为单位，每股数据除外）

附注3——每股收益（亏损）

下表列示了基本和稀释每股收益（亏损）的计算：


	截至9月30日的三个月		截至9月30日的九个月
	2026		2025		2026		2025
分子：
净收益（亏损）	$	(117,024)			$	(21,095)		$	(32,983)	$	130,080
分母：
加权平均流通股数——基本	159,648			158,834			159,482		158,879
股份薪酬奖励的稀释影响	—			—			—		1,999
认股权证的稀释影响	—			—			—		835
加权平均流通股数——稀释	159,648			158,834			159,482		161,713
每股收益（亏损）数据：
基本	$	(0.73)			$	(0.13)		$	(0.21)	$	0.82
稀释	$	(0.73)			$	(0.13)		$	(0.21)	$	0.80

只有对基本每股收益（亏损）具有稀释影响的项目才计入稀释每股收益（亏损）。下表列示了未计入稀释每股收益（亏损）的股份工具，因为其影响具有反稀释性：


	截至9月30日的三个月	截至9月30日的九个月
	2026	2025		2026	2025
股份薪酬奖励 (1)	1,068		1,999		1,374	—
认股权证 (1)	1,082		3,676		1,163	2,773

(1)指尚未产生稀释影响的股份薪酬奖励和认股权证总数。在股份薪酬奖励和认股权证被认定为具有稀释影响的期间，计入稀释股数计算的股份数采用库存股法确定，并在适用时根据认股权证协议中的强制行使条款进行调整。

股本

截至2026年9月30日，Noble约有1.597亿股普通股在外流通，而截至2025年12月31日，约有1.589亿股普通股在外流通。此外，截至2026年9月30日，0.7百万份第一批认股权证（定义见下文）和0.7百万份第二批认股权证（定义见下文）尚未行权且可行权。此外，根据Noble Corporation plc 2022年长期激励计划，可能授予新的股权奖励，最多可发行390万股新普通股。

股息的宣派和支付须经董事会授权，但已发行股本的股息仅可从根据英国法律参照相关法定账目确定的公司“可分配储备”中支付。公司不得从股本（包括股份溢价）中支付股息。未来股息的支付将取决于我们的经营业绩、财务状况、现金需求、未来业务前景、是否有足够的可分配储备、合同及契约限制，以及董事会认为相关的其他因素。在截至2026年和2025年9月30日的各季度，我们均宣派并支付了每股0.50美元的股息。

股份回购

根据英国法律，公司仅可通过“场外购买”方式回购自己的普通股，且须依据经股东批准的合同进行（为员工持股计划之目的或根据员工持股计划进行的购买除外）。此类购买可通过以下方式支付：(i) 从根据英国法律参照相关法定账目确定的公司“可分配储备”中支付，或(ii) 使用为该购买融资而发行新股所得款项支付。2024年10月22日，公司董事会批准增加股份回购授权，最多额外回购价值4亿美元的股份；在2025年年度

NOBLE CORPORATION plc及子公司

未经审计的简明合并财务报表附注

（除非另有说明，表格中的美元和股份金额均以千为单位，每股数据除外）

在股东大会上，股东批准回购最多23,800,068股普通股。董事会授权尚余约$370.0 million，没有固定到期日，并可随时修改、暂停或终止。股东授权回购最多23,800,068股普通股的额度尚未使用，且该股东授权将于May 8, 2030到期（但有若干例外）。该计划不要求公司回购任何特定数量的普通股。在截至2026年9月30日的三个月和九个月内，公司均未回购普通股。在截至2025年9月30日的三个月和九个月内，公司分别未回购及回购了0.7 million股普通股。所有回购股份随后均已注销，回购股份的面值转入资本赎回储备。根据该计划，公司可不时通过多种方式进行回购，例如公开市场购买和私下协商交易，并遵守相关规则和法规。制定该计划时，董事会考虑到，为业务提供额外的资本配置灵活性，有助于在其他资本用途之外促进股东长期价值，从而使股东受益。

认股权证

第1批认股权证（“第1批认股权证”）可按每份$19.27的行权价行权，每份认股权证可购买一股普通股；第2批认股权证（“第2批认股权证”）可按每份$23.13的行权价行权，每份认股权证可购买一股普通股；第3批认股权证已于February 4, 2026到期，原可按每份$124.40的行权价行权，每份认股权证可购买一股普通股。

附注4——物业及设备

Noble的物业及设备按成本计量，明细如下：


	September 30, 2026		December 31, 2025
钻井设备及设施	$	6,659,138			$	6,332,098
在建工程	403,170			215,637
其他	97,333			91,310
物业及设备，按成本计	$	7,159,641			$	6,639,045

截至2026年和2025年9月30日的三个月内，资本性增加（包括资本化利息）总额分别为$202.5 million和$134.7 million。截至2026年和2025年9月30日的九个月内，资本性增加（包括资本化利息）总额分别为$573.4 million和$339.0 million。

2026年第二季度，Ocean Apex 符合持有待售分类标准，我们记录了$42.3 million的减值损失，将其账面价值减记至估计公允价值减出售成本后的金额。我们采用对第2级公允价值计量具有代表性的重要其他可观察输入值估算该资产的公允价值，其中包括钻井平台出售的具有约束力的合同或指示性市场价值。2026年第三季度，我们完成了Ocean Apex的出售，净收入约为$5.1 million。

截至2026年9月30日，Noble Globetrotter II 和 Noble Resolve 符合持有待售条件，并以合计账面价值 91.3 million 列入我们简明合并资产负债表中的“其他资产”。2026年10月，我们完成了 Noble Resolve 的出售，总收入约为 64 million，其中 19.2 million 已于2025年第四季度收取。

附注5 — 债务

债务本金赎回

2026年6月11日，我们赎回了本金总额为 495.0 million、利率为 8.500%、2030年到期的优先担保第二留置权票据，支付 522.1 million，另加应计利息，并确认亏损约 6.5 million。同样在6月11日，

NOBLE CORPORATION plc 及子公司

未经审计的简明合并财务报表附注

（除非另有说明，表格中的美元和股份金额均以千为单位，每股数据除外）

2026年，我们赎回了本金总额为 300.0 million、利率为 8.000%、2030年到期的优先票据，支付 312.0 million，另加应计利息，并确认亏损约 11.8 million。

经修订及重述的担保循环信贷协议

2026年5月29日，我们修订了日期为2023年4月18日、此前于2024年6月24日和2025年12月16日修订的经修订及重述的优先担保循环信贷协议（“循环信贷融资”）。对循环信贷融资的修订将承诺额度提高至 650.0 million，并将到期日延长至2031年5月。随后，2026年9月16日，我们对循环信贷融资作出进一步修订，以明确可据此获得担保的双边信贷工具类型。循环信贷融资的担保人，与 Noble Finance II LLC（Noble 的全资间接子公司，以下简称“Noble Finance II”）旗下作为或将作为2030年票据和2034年票据（定义见下文）担保人的子公司相同。截至2026年9月30日，我们在循环信贷融资项下没有未偿借款，已开立信用证 6.7 million。

2034年到期的 6.250% 优先票据

2026年6月11日，Noble Finance II 发行了本金总额为 800.0 million、利率为 6.250%、2034年到期的优先票据（“2034年票据”）。2034年票据依据一份日期为2026年6月11日的契约发行，契约各方包括 Noble Finance II、作为担保人的 Noble Finance II 相关子公司，以及受托人、付款代理人和登记机构。

2034年票据由上述担保人无条件提供优先无担保担保；Noble Finance II 的某些未来子公司若为 Noble Finance II 和上述担保人的某些债务（包括循环信贷融资）提供担保，也将以同等方式无条件为2034年票据提供担保。

2034年票据将于2034年6月15日到期，利息按年利率 6.250% 计算，每半年期末支付一次，支付日为每年6月15日和12月15日，首次支付日为2026年12月15日；付息对象为相关付息日前最近的6月1日和12月1日登记在册的持有人。

2030年到期的 8.000% 优先票据

2023年，Noble Finance II发行了本金总额为6亿美元、利率为8.000%、2030年到期的优先票据（“初始2030年票据”）。2024年8月22日，Noble Finance II额外发行了本金总额为8亿美元、利率为8.000%、2030年到期的优先票据（“额外2030年票据”，与初始2030年票据合称“2030年票据”），发行溢价为103%，使未偿本金总额达到14亿美元。2026年6月11日，Noble Finance II以3.12亿美元赎回了本金总额为3亿美元的2030年票据，使未偿本金总额降至11亿美元。2030年票据依据一份日期为2023年4月18日的契约发行，该契约由Noble Finance II、作为担保人的Noble Finance II相关子公司，以及受托人、付款代理人和登记机构签订。

2030年票据由上述担保人无条件提供优先无担保担保；Noble Finance II未来某些为Noble Finance II及上述担保人的某些债务（包括循环信贷安排）提供担保的子公司，也将以相同方式无条件提供担保。

2030年票据将于2030年4月15日到期，利息按年利率8.000%计算，每半年期末支付一次，支付日为每年4月15日和10月15日，支付给相关付息日前最近的4月1日和10月1日登记在册的持有人。

利率为8.500%、2030年到期的优先担保第二留置权票据

2023年，Diamond Foreign Asset Company和Diamond Finance, LLC发行了本金总额为5.5亿美元、利率为8.500%、2030年10月到期的优先担保第二留置权票据（“Diamond第二留置权票据”），利息每年4月1日和10月1日支付，每半年期末支付一次。2026年3月27日，Diamond Foreign Asset Company以5670万美元赎回了本金总额为5500万美元的Diamond第二留置权票据。2026年6月11日，Diamond Foreign Asset Company以5.221亿美元赎回了剩余本金总额为4.95亿美元的Diamond第二留置权票据。

Noble Finance II财务信息

管辖2030年票据和2034年票据的契约包含相关约定，要求Noble Finance II向2030年票据和2034年票据的持有人提供有关Noble Finance II及其受限子公司的某些财务信息。提供Noble的财务信息并说明该等信息与Noble Finance II及其

NOBLE CORPORATION plc及子公司

未经审计的简明合并财务报表附注

（除非另有说明，表格中的美元和股份金额均以千为单位，每股数据除外）

受限子公司单体口径。由于 Noble 几乎所有业务均通过 Noble Finance II 开展，因此在所有重大方面，Noble Finance II 的财务状况和经营业绩与 Noble 所列信息相同。截至2026年9月30日止三个月和九个月，Noble Finance II 的营业收入（亏损）分别比 Noble 高 $10.3 million 和 $30.9 million。营业收入（亏损）差异主要是由于归属于 Noble 的企业专业服务和法律费用，以及运营支持和管理服务相关的行政费用。

债务公允价值

公允价值是指在当前交易中，愿意交易的各方之间交换某项工具的金额。债务工具的估计公允价值基于类似债务的报价，或我们当前获得的类似剩余期限债务利率（第2级计量）。循环信贷额度的公允价值接近其账面金额，因为其利率为浮动利率，且反映市场利率。

下表列示了我们全部债务的账面价值（扣除未摊销债务发行成本及折价或溢价）和估计公允价值（分别不考虑未摊销债务发行成本的影响）：


	2026年9月30日		2025年12月31日
	账面价值		估计公允价值		账面价值		估计公允价值
优先票据
8.000% 优先票据，2030年4月到期	$	1,100,647			$	1,119,657		$	1,400,983	$	1,454,656
8.500% 优先担保第二留置权票据，2030年10月到期	—			—			574,808		583,775
6.250% 优先票据，2034年6月到期	788,034			754,368			—		—
信贷额度
经修订及重述的优先担保循环信贷额度	—			—			—		—
债务总额	1,888,681			1,874,025			1,975,791		2,038,431
减：长期债务的当期到期部分	—			—			—		—
长期债务	$	1,888,681			$	1,874,025		$	1,975,791	$	2,038,431

附注6——收入与客户

收入细分

下表列示了按钻井平台类型划分的合同钻井服务收入信息：


	截至9月30日止三个月，		截至9月30日止九个月，
	2026		2025		2026		2025
浮式平台	$	563,389			$	630,154		1,734,871		2,007,925
自升式平台	120,261			127,251			370,776		393,985
总计	$	683,650			$	757,405		$	2,105,647		$	2,401,910

合同余额

当收取对价的权利根据合同开票时间表成为无条件权利时，即确认应收账款。已开票金额的付款期限通常为30至60天。客户合同资产和负债通常包括合同成本和递延收入，均源自过去与履行客户合同服务相关的交易。流动合同资产和负债余额分别计入简明合并资产负债表中的“预付费用及其他流动资产”和“其他流动负债”，非流动合同资产和负债分别计入“其他资产”和“其他负债”。

某些为合同前期准备、初始钻井平台动员及改装而发生的直接增量成本属于履行合同的成本，且可予以收回。这些可收回成本予以递延，并按直线法摊销至合同钻井

NOBLE CORPORATION plc 及其子公司

未经审计的简明合并财务报表附注

（除非另有说明，表格中的金额和股份数均以千为单位，每股数据除外）

随着服务在相关钻井合同初始期限内提供而确认费用。合同完成时钻井平台撤场所发生的成本，在撤场过程中发生时予以确认。

我们的某些合同还包括用于满足履约义务的钻井平台资本性改造。这些改造的付款最初确认为合同负债，并在相关钻井合同初始期限内按比例摊销为合同钻井收入。成本按照我们现行的固定资产会计政策资本化，并在改良项目的预计使用年限内折旧。

下表列示了与客户合同相关的合同资产和合同负债信息：


	2026年9月30日		2025年12月31日
流动客户合同资产	$	11,284			$	29,525
非流动客户合同资产	15,428			1,112
客户合同资产总额	26,712			30,637

流动递延收入	(46,923)			(64,400)
非流动递延收入	(49,776)			(32,718)
递延收入总额	$	(96,699)			$	(97,118)

截至2026年和2025年9月30日的九个月内，剩余履约义务合同资产和合同负债余额的重大变化如下：


	合同资产		合同负债
截至2025年12月31日的净余额	$	30,637			$	(97,118)

递延成本增加	29,570			—
递延收入增加	—			(57,459)
递延成本摊销	(33,495)			—
递延收入摊销	—			57,878
总计	(3,925)			419

截至2026年9月30日的净余额	$	26,712			$	(96,699)

截至2024年12月31日的净余额	$	37,091			$	(101,945)

递延成本增加	25,409			—
递延收入增加	—			(92,321)
递延成本摊销	(29,790)			—
递延收入摊销	—			100,633
总计	(4,381)			8,312

截至2025年9月30日的净余额	$	32,710			$	(93,633)

非市场价客户合同资产和负债

非市场价客户合同资产和负债是与2024年6月9日签订的合并协议及计划相关而确认的，该协议及计划涉及Diamond Offshore Drilling, Inc.（“Diamond”）、Dolphin Merger Sub 1, Inc.和Dolphin Merger Sub 2, Inc.，根据该协议，Noble通过股票加现金交易收购了Diamond（“Diamond交易”）。这些资产和负债分别计入“其他资产”和“非流动合同负债”。

NOBLE CORPORATION plc及子公司

未经审计的简明合并财务报表附注

（除非另有说明，表格中的金额和股份数均以千为单位，每股数据除外）

与Diamond交易相关，公司就收购的若干不利客户合同确认了2,770万美元的公允价值调整。截至2025年6月，这些负债已全部摊销，并自2024年9月4日起至相关合同剩余期限内增加合同钻井服务收入。


	不利合同		有利合同





截至2024年12月31日的余额	$	(8,580)			$	214

摊销	8,580			(214)
截至2025年9月30日的余额	$	—			$	—

附注 7 — 所得税

截至2026年9月30日的三个月内，公司确认了1,580万美元的离散净递延税费，主要与瑞士和尼日利亚递延税收利益估值备抵的转回及调整有关。

截至2026年9月30日的九个月内，公司确认了额外的2,390万美元离散净递延税收利益，主要与尼日利亚递延税收利益估值备抵的转回及调整有关。

截至2025年9月30日的三个月内，公司确认了额外的610万美元离散递延税收利益，与卢森堡递延税收利益估值备抵的转回及调整有关。

截至2025年9月30日的九个月内，公司确认了额外的8,510万美元离散递延税收利益，与卢森堡递延税收利益估值备抵的转回及调整有关。

在计算上述递延税收净利益或费用时，公司依据相关现有钻井合同涵盖期间的预计应税收入，并假设相关钻井平台将在相关现有钻井合同期间由相关钻井平台所有者持有。鉴于公司资产具有流动性，我们无法合理预测未来钻井合同产生的应税收入可能来自哪些司法管辖区。我们在历史期间也缺乏足够的客观正面证据。因此，在确定可确认的额外递延税项资产金额时，我们未考虑现有钻井合同结束之后的预计账面收入。随着签订新的钻井合同或延长当前合同，我们将重新评估可实现的递延税项资产金额。最后，一旦我们为历史期间建立了充分的客观正面证据，我们可能会考虑依赖未来钻井合同的预计应税收入。

截至2026年9月30日，不确定税务状况准备金总额为1.187亿美元（扣除相关税收利益100万美元）。截至2025年12月31日，不确定税务状况准备金总额为1.192亿美元（扣除相关税收利益90万美元）。

截至2026年9月30日的三个月内，我们的税项拨备包括与瑞士递延税项费用估值备抵调整相关的1,580万美元税费，以及主要来自加纳、圭亚那、卢森堡、瑞士和美国的季度经常性计提1.173亿美元。

截至2026年9月30日的九个月内，我们的税项拨备包括主要与尼日利亚递延税收利益估值备抵调整相关的2,390万美元税收利益。该等税收利益被与出售经营资产收益相关的2,350万美元税务影响以及主要来自加纳、圭亚那、卢森堡、瑞士和美国的季度经常性计提2.227亿美元所抵销。

附注 8 — 承诺与或有事项

税务事项

截至2026年9月30日，涉及所得税及其他营业税的约1,100万美元审计索赔仍未解决，Noble仍对此提出异议。随着事实变化以及审计和/或诉讼持续推进，我们仍按季度持续监控和评估此类审计索赔。我们打算竭力

NOBLE CORPORATION plc及子公司

未经审计的简明合并财务报表附注

（除非另有说明，表格中的金额和股数均以千为单位，每股数据除外）

为我们报告的立场辩护，目前认为审计索赔的最终解决不会对我们的合并财务报表产生重大不利影响。

我们在全球多个国家开展业务，在这些司法管辖区提交的纳税申报表均可能接受当地税务机关的审查和检查。对于我们认为在税务机关质疑后获得维持的可能性超过50%的不确定税务立场，我们予以确认。我们无法预测或保证任何现有或未来评估的最终结果。

信用证和保证债券

截至2026年9月30日，我们在循环信贷额度项下开立了670万美元的信用证，并通过双边安排另行开立了1.107亿美元的信用证和保证债券，以保证我们履行钻井合同、合同投标、税务申诉、关税及各司法管辖区其他义务方面的责任。我们预计将遵守相关履约要求，也预计不会有人要求兑付这些信用证和保证债券。

其他或有事项

我们是日常经营过程中产生的若干其他索赔和诉讼的被告，包括人身伤害索赔。管理层认为，这些事项的解决不会对我们的财务状况、经营业绩或现金流产生重大影响。任何诉讼或争议均存在固有风险，无法保证这些索赔的结果。

附注9——补充财务信息

简明合并资产负债表信息

受限现金

Noble于2026年9月30日和2025年12月31日的受限现金余额分别为20万美元和860万美元。所有受限现金均计入“预付费用及其他流动资产”。

租赁

我们的租赁协议主要涉及房地产、设备、仓储、码头空间和汽车，并计入简明合并资产负债表中的“其他资产”、“其他流动负债”和“其他负债”。在Diamond交易中，公司承接了若干用于钻井船的井控设备融资租赁，这些租赁包含在各自租期结束时购买租赁设备的选择权。

2026年第一季度，Noble行使了购买租赁设备的选择权，并与EFS BOP, LLC（卖方）签订购买与出售协议，购买四套防喷器（“BOP”）系统。设备的总购买价为$73.0 million。截至2026年9月30日，我们已购买其中三套BOP系统，并在简明合并资产负债表中将其从“其他资产”重新分类至“财产和设备”。剩余一套BOP系统的交割预计将在2026年第四季度、按照剩余租赁期限完成。

与融资租赁相关的补充资产负债表信息如下：


	2026年9月30日		2025年12月31日
使用权资产	$	23,068			$	99,767
流动租赁负债	18,925			93,382

应收票据

2025年12月8日，Borr Drilling Limited（“Borr”）与Noble签订了买卖协议（该协议于2026年1月5日修订，以下简称“SPA”），据此，Borr同意以$360.0 million购买、Noble同意出售五座自升式钻井平台（“购买平台”）。

根据SPA，Noble向Borr提供了$150.0 million贷款（“贷款”），其中三座购买平台（Noble Tom Prosser、Noble Regina Allen和Noble Resilient）用作抵押品。该贷款属于次级有担保债务，2032年1月7日到期，贷款利率会随时间变化（范围为7.5%至15.0%）。此外，Borr可选择将前三次付息的利息以实物支付；贷款可随时提前偿还，无需支付溢价或罚金，但某些条款规定必须提前偿还。我们最初

NOBLE CORPORATION plc及其子公司

未经审计的简明合并财务报表附注

（除非另有说明，表格中的美元和股数金额均以千为单位，每股数据除外）

按摊销成本确认应收票据，金额等于通过折现现金流模型估算的贷款公允价值。2026年7月，Borr行使了首次利息实物支付选择权，约$5.2 million的应计利息资本化并计入应收票据账面价值。

2026年9月，应收票据符合持有待售分类标准，因此其账面价值转入“预付费用及其他流动资产”。我们根据类似工具的可观察市场数据调整了应收票据的公允价值，该数据代表第2级公允价值计量。

简明合并现金流量表信息

经营性现金活动

资产和负债变动对经营活动现金流的净影响如下：


	截至9月30日止九个月
	2026		2025
应收账款	$	(22,384)			$	118,675
应收税款	13,296			709
其他流动资产	(4,963)			140,519
其他资产	(3,064)			16,452
应付账款	44,944			(68,154)
其他流动负债	(22,788)			(3,855)
其他负债	15,368			3,151
经营性资产和负债变动净额合计	$	20,409			$	207,497

非现金投资和融资活动

未计入未经审计的简明合并现金流量表的非现金投资和融资活动如下：


	截至9月30日的九个月
	2026		2025
期末应计资本支出	$	63,789			$	41,509
通过交换租赁使用权资产购置的财产和设备	59,087			—
使用权资产终止确认	(59,087)			—

第2项。管理层对财务状况和经营成果的讨论与分析

以下讨论旨在帮助您了解我们截至2026年9月30日的财务状况，以及截至2026年和2025年9月30日止三个月和九个月的经营成果。以下讨论应与本季度报告Form 10-Q中包含的未经审计简明合并财务报表及相关附注、Noble Corporation plc（根据英格兰和威尔士法律注册成立的公众有限公司，简称“Noble”）提交的截至2025年12月31日止年度Form 10-K年度报告（“Form 10-K”）中包含的经审计合并财务报表及其附注，以及我们向美国证券交易委员会（“SEC”）提交的其他文件一并阅读。本季度报告Form 10-Q中提及的“Noble”、“公司”、“我们”、“我们的”及类似含义的词语，均统指Noble及其合并子公司。

前瞻性陈述

This Quarterly Report on Form 10-Q includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts included in this report or in the documents incorporated by reference are forward-looking statements, including, but not limited to, those regarding expected financial performance, revenues, expected utilization, fleet status, project status and project schedules, effects of new rigs on the market revenues, operating expenses, cash flows, costs, amount, effect or timing of cost savings, future cash benefit expectations, contract status, contract negotiations, terminations, options and extensions, contract awards and expected future contracts, anticipated contract start dates, tenders, terms and duration, dayrates, operational suspensions, backlog, including projections for the achievement of revenue associated with performance, rigs’ availability, delivery, mobilization, stacking or reactivation, fleet condition, utilization and strategy, relocation or other movement of rigs and the timing thereof, contract claims, capital expenditures, insurance maintenance and renewals, access to financing, rig demand, peak oil, the offshore drilling market, oil prices, production levels among members of the Organization of Petroleum Exporting Countries (“OPEC”) and other oil and gas producing nations (together with OPEC, “OPEC+”), and any expectations we may have with respect thereto, our future financial position, business strategy, impairments, repayment of debt, credit ratings, liquidity, borrowings under any credit facilities or other instruments, sources of funds, cost inflation, planned acquisitions or divestitures of assets, governmental regulations and permitting, taxes, tax rates, and deferred taxes, indebtedness covenant compliance, dividends and distributable reserves, share repurchases, the impacts of sustainability matters, the outcome of tax disputes, assessments and settlements, expense management, the outcome of any dispute, litigation, audit or investigation, plans, foreign currency requirements, results of joint ventures, general economic and market trends and outlook, including outlook on inflation and recessions, current or future economic trends or events and their impact on the Company, general political conditions, including political tensions, conflicts and war, timing, benefits, impacts or results of acquisitions or dispositions, and timing for compliance with any new regulations. When used in this report or in the documents incorporated by reference, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “on track,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” “shall,” “target,” “will,” and similar expressions are intended to be among the terms 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 Quarterly Report on Form 10-Q 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, customer actions and the general customer landscape, volatility in the price of oil or gas, reduced demand for oil and gas products and increased regulation of drilling and production, the level of drilling and production activity, price competition, and cyclicality in the oil and gas industry and the offshore drilling industry, offshore rig supply, dayrates and demand for rigs, contract duration, negotiation, renewal, terminations, and repricing, operational suspensions, national oil companies and governmental clients, backlog and realization of our current backlog of contract drilling revenue, customer and geographic concentration, operational hazards and risks, labor force unionization, labor interruptions and labor regulations, major natural disasters, including hurricanes and windstorm damage, seasonal weather events and related damages or liabilities, catastrophic events, acts of war, geopolitical conflict, 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, terrorism or social unrest, pandemic, or other similar events, joint ventures as well as investments in associates, risks relating to international operations and related mobilization and demobilization of rigs, operational interruptions and delays, upgrades, refurbishment and repair of rigs and any related delays and cost overruns or reduced payment of dayrates, impacts of inflation and changes in global trade policy, including tariffs and other trade restrictions, renewal of insurance, protection of sensitive information, operational technology systems and critical data, the ability to attract and retain skilled personnel or the increased cost in doing so, supplier capacity constraints or shortages in parts or equipment, supplier production disruptions, supplier quality and sourcing issues or price increases, future mergers, acquisitions or dispositions of businesses or assets or other strategic transactions, sales of drilling units, responding to long-term changes in the energy mix, impairment to our ability to raise capital for operations, nonperformance of third-parties, suppliers and subcontractors, regulatory changes and compliance with governmental laws and regulations, heightened attention to sustainability matters, including climate change and accountability for public statements about sustainability efforts, compliance with anti-bribery or anti-corruption, international trade laws and regulations, our ability to maintain effective disclosure controls and procedures and internal control over financial reporting, impairments on property and equipment, including rigs and related capital spares, operating and financial restrictions, maintenance of covenants in our debt documents, potential impacts, liabilities and costs from pending or potential litigation, investigations, claims and tax or

other disputes, and other risks that are described herein, as well as the “Risk Factors” referenced or described in Part I, Item 1A. “Risk Factors” of our Form 10-K and in our other filings with the SEC. 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. 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.

Our Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act are available free of charge on our website. The SEC maintains an internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC at http://www.sec.gov.

Our website address is http://www.noblecorp.com. Investors should also note that we announce material financial information in SEC filings, press releases and public conference calls. Based on guidance from the SEC, we may use the investor relations section of our website to communicate with our investors. It is possible that the financial and other information (including fleet status reports) posted there could be deemed to be material information. Noble may also use social media channels including, but not limited to, Noble’s accounts on LinkedIn, Facebook, Instagram, and X, to communicate with investors and the public about its business, services, and other matters, and those communications could be deemed to be material information. Except to the extent explicitly stated herein, documents and information on our website or our social media channels are not incorporated by reference herein.

Executive Overview

Noble is a leading offshore drilling contractor for the oil and gas industry. As of the filing date of this Quarterly Report on Form 10-Q, Noble performs, through its subsidiaries, contract drilling services with a fleet of 29 drilling rigs, consisting of 24 floaters and 5 jackups (excluding certain rigs currently operating under a bareboat charter agreement), focused largely on ultra-deepwater and high-specification jackup drilling opportunities in both established and emerging regions worldwide. We typically employ each drilling unit under an individual contract, and many contracts are awarded based upon a competitive bidding process.

We report our contract drilling operations as a single reportable segment, Contract Drilling Services, which reflects how we manage our business. The mobile offshore drilling units comprising our offshore rig fleet operate in a global market for contract drilling services and are often redeployed to different regions due to changing demands of our customers, which consist primarily of large, integrated, independent and government-owned or controlled oil and gas companies throughout the world.

Market Outlook

In recent years, oil prices have generally remained at levels that are supportive of offshore exploration and development activity and global rig demand recovered to eclipse pre-pandemic levels, albeit with some moderation since early 2024. During 2026, the conflict involving Iran caused significant disruption in the normal flow of oil, refined petroleum products, and related commodities, contributing to elevated and volatile commodity prices and broader uncertainty across global energy markets and regional and global shipping flows. Current demand and utilization levels are supported by the combination of the outlook for longer-term commodity prices, heightened focus on energy security, the capital intensity of depletion replacement, and relative attractiveness of offshore plays with respect to both cost and carbon emissions. The increase in global rig demand since 2021 has had a positive impact on dayrates for most rig classes, although dayrates have decreased moderately since recent highs in 2023 and 2024.

The global rig supply has come down from historic highs as Noble and other offshore drilling contractors have retired less capable and idle assets. Concurrently, the incoming supply of newbuild offshore drilling rigs has diminished materially, with very few newbuild rigs now remaining stranded in shipyards.

Although the market outlook in our business varies by geographical region and water depth and, despite recent volatility regarding the price of oil, we remain encouraged by the long-term outlook in the ultra-deepwater floater market. Our customers continue to focus on our highest specification floaters, which represents the majority of our floater fleet. Assuming current market fundamentals, continued customer prioritization towards these highest specification floaters could result in lower utilization for our lower specification drillships and our semi-submersibles. Demand for midwater semisubmersibles is primarily driven by brownfield activity in mature basins, especially in Northwest Europe, South America, and the Asia Pacific regions, where a generally stable level of baseload demand is supported by infield drilling and plug and abandonment requirements. Furthermore, economic uncertainty and increased commodity price volatility, arising from, among other things, the conflict involving Iran, related shipping disruption, and elevated geopolitical tensions, collectively present potential for oil demand destruction and supply chain pressure. In addition, rising interest rates could weigh on broader economic activity, which may affect the timing or scope of industry decisions, particularly for capital-intensive, long-cycle offshore projects.

Returning to the broader offshore drilling market, recent contract awards and open tenders show an increasing proportion of multi-year contracts, although a significant number of shorter-term commitments continue to be fixed as well. Longer-term contracts can generally provide economic efficiencies by reducing the number of rig contract start-ups, both with different customers and among different regions, which is expected to reduce incremental resources and costs. On the other hand, certain multi-year contracts that are scheduled to commence a year or longer into the future can present near-term utilization inefficiency due to challenges with filling interim availability on the assets.

The energy transition from hydrocarbons to renewables poses a challenge to the oil and gas sector and our market. Energy rebalancing trends sharply accelerated over the past decade as evidenced by promulgated or proposed government policies and commitments by many of our customers to further invest in sustainable energy sources, although this trend has moderated or even reversed in certain jurisdictions in more recent years with shifting political priorities. Our industry could be further challenged as resource holders and policy makers continue to evaluate and calibrate strategies and capital flows to address global energy needs. Ultimately, however, there continues to be a global dependence on products made

from hydrocarbons and on the combustion of hydrocarbons to provide reliable and affordable energy. Low-cost and low-emission barrels are expected to be the most attractive conventional source to meet energy needs both currently and in the future. Global energy demand is predicted to increase over the coming decades, and we expect that offshore oil and gas will continue to play an important and lasting role in meeting this demand.

Our cost profile remains sensitive to global labor market conditions, capital intensive repair and maintenance scopes on our rigs, global trade and sanctions regimes, including the impacts of new or increased tariffs or trade wars, and geopolitical crises (including the recent conflict involving Iran) and their respective regional and global ramifications. Each of these factors has the potential to adversely impact our ability to conduct our day-to-day operations and manage costs with uncertainty related to trade policy and tariffs also having the ability to negatively impact rig demand.

Contract Drilling Services Backlog

We maintain a backlog of commitments for contract drilling services. Our contract drilling services backlog reflects estimated future revenues attributable to signed drilling contracts. As of September 30, 2026, contract drilling services backlog totaled approximately $6.8 billion.

We calculate backlog for any given unit and period by multiplying the full contractual operating dayrate for such unit by the number of days remaining in the period, and include certain assumptions based on the terms of certain contractual arrangements, discussed in the notes to the table below. The reported contract drilling services backlog does not include amounts representing revenues for mobilization, demobilization, and contract preparation, which are not expected to be significant to our contract drilling services revenues, amounts constituting reimbursables from customers, or amounts attributable to uncommitted option periods under drilling contracts or letters of intent.

The table below presents the amount of our contract drilling services backlog as of September 30, 2026, and the percent of available operating days committed for the periods indicated:


			Year Ending December 31,
	Total		2026 (1)		2027		2028	2029		2030		Thereafter
	(In thousands)
Contract Drilling Services Backlog
Floaters (2) (3)	$	6,326,201			$	522,823		$	2,217,222			$	2,078,249			$	899,932		$	488,159	$	119,816
Jackups (4)	483,685			87,205			281,480		84,180		30,820		—			—
Total	$	6,809,886			$	610,028		$	2,498,702			$	2,162,429			$	930,752		$	488,159	$	119,816
Percent of Available Days Committed (5)
Floaters			63	%		71	%	62	%		27	%		15	%		3	%
Jackups			78	%		63	%	20	%		7	%		—	%		—	%
Total			66	%		69	%	55	%		23	%		12	%		3	%

(1)Represents a three-month period beginning October 1, 2026.

(2)Noble entered into a multi-year Commercial Enabling Agreement (the “CEA”) with ExxonMobil in February 2020. Under the CEA, dayrates for the rigs are repriced on January 1 and July 1 each year to the projected market rate at the time the new rate goes into effect, subject to a scale-based discount and a performance bonus that appropriately aligns the interests of Noble and ExxonMobil. Under the CEA, the above table includes awarded and remaining current contract term to February 18, 2029, related to each of the following four rigs: the Noble Tom Madden, Noble Bob Douglas, Noble Don Taylor, and Noble Sam Croft. Under the CEA, ExxonMobil may reassign remaining contract term among rigs, subject to maintaining certain minimum contract term on the rig from which term is removed.

(3)Assuming approximately 40% of available performance revenue realized on a combined basis under certain long-term contracts with Shell plc (US Gulf) and TotalEnergies (Suriname).

(4)In 2022, Noble renewed its five-year Framework Agreement with Aker BP for the provision of ultra-harsh environment jackup rigs, the Noble Integrator and Noble Invincible, for activities in offshore Norway. Under this Framework Agreement, different rate structures apply reflecting different operating modes, agreed incentive schemes, and adjustments for operating expenses. Rate structures are adjusted annually to reflect market conditions.

(5)Percent of available days committed is calculated by dividing the total number of days our rigs are operating under contract for such period by the product of the number of our rigs, including cold stacked rigs (i.e., idle without a contract, have reduced or no crew, or are not actively marketed in present market conditions), and the number of calendar days in such period.

The amount of actual revenues earned and the actual periods during which revenues are earned may be materially different than the backlog amounts and backlog periods presented in the table above due to various factors, including, but not limited to, shipyard and maintenance projects, unplanned downtime, the operation of market benchmarks for dayrate resets, achievement of bonuses, weather conditions, reduced standby or mobilization rates, and other factors that result in applicable dayrates lower than the full contractual operating dayrate. In addition, amounts included in the backlog may change because drilling contracts may be varied or modified according to their terms or by mutual consent, or customers may exercise early termination rights contained in some of our drilling contracts or decline to enter into a drilling contract after executing a letter of intent. Our backlog as of any particular date may not be indicative of our actual operating results for the periods for which the backlog is calculated. See Part I, Item 1A, “Risk Factors – Risks Related to Our Business and Operations – Our current backlog of contract drilling revenue may not be ultimately realized” in our Form 10-K. For example, as described under “Results of Operations” below, the actual revenues earned in the second and third quarters of 2026 from the Noble Faye Kozack and the Noble Courage differed from prior backlog amounts due to the previously disclosed temporary operational suspensions of those rigs, both of which have since resumed operations. Furthermore, the above table reflects re-sequenced commitments in the second half of 2026, including the transfer of backlog from the Noble Innovator to the Noble Intrepid as well as an earlier anticipated end date for the Noble Stanley Lafosse in December 2026 or January 2027 rather than July 2027 previously. Additionally, a customer option for the Noble Viking has been deferred from the fourth quarter of 2026 into 2027.

As of September 30, 2026, ExxonMobil, Shell, TotalEnergies, BP, and Aker BP represented approximately 20.5%, 18.8%, 13.6%, 12.8%, and 10.2% of our backlog, respectively.

Results of Operations

Results for the Three Months Ended September 30, 2026 and 2025

Net loss for the three months ended September 30, 2026 (the “current quarter”), was $117.0 million, or $(0.73) per diluted share, on operating revenues of $728.8 million compared to net loss for the three months ended September 30, 2025, of $21.1 million, or $(0.13) per diluted share, on operating revenues of $798.0 million.

Key Operating Metrics

Operating results for our contract drilling services segment are dependent on three primary metrics: operating days, dayrates, and operating costs. We also track rig utilization, which is a function of operating days and the number of rigs in our fleet. For more information on operating costs, see “Contract Drilling Services” below.

The following table presents the average rig utilization, operating days, and average dayrates for our rig fleet for the periods indicated:


	Average Rig Utilization (1)		Operating Days (2)		Average Dayrates (2)
	Three Months Ended September 30,		Three Months Ended September 30,		Three Months Ended September 30,
	2026		2025		2026	2025	2026		2025
Floaters	63	%		65	%	1,398		1,488		$	403,113		$	423,489
Jackups (3)	79	%		54	%	579		627		207,651		202,982
Total	67	%		61	%	1,977		2,115		$	345,846		$	358,126

(1)We define utilization for a specific period as the total number of days our rigs are operating under contract, divided by the product of the total number of our rigs, including cold stacked rigs, and the number of calendar days in such period. Information reflects our policy of reporting on the basis of the number of available rigs in our fleet.

(2)An operating day is defined as a calendar day during which a rig operated under a drilling contract. We define average dayrates as revenue from contract drilling services earned per operating day. Average dayrates have not been adjusted for the non-cash amortization related to favorable and unfavorable customer contract intangibles.

(3)For 2026, the figures include rigs sold to Borr Drilling Limited, which are/were operating under a bareboat charter agreement.

Contract Drilling Services

The following table presents the operating results for our contract drilling services segment for the periods indicated (dollars in thousands):


	Three Months Ended September 30,		Change
Operating revenues:	2026		2025		$		%
Contract drilling services	$	683,650			$	757,405		$	(73,755)		(10)	%
Reimbursables and other (1)	45,114			40,612			4,502		11	%
	728,764			798,017			(69,253)		(9)	%
Operating costs and expenses:
Contract drilling services	$	468,516			$	479,894		$	(11,378)		(2)	%
Reimbursables (1)	32,026			30,547			1,479		5	%
Depreciation and amortization	143,432			147,260			(3,828)		(3)	%
General and administrative	27,286			33,301			(6,015)		(18)	%
Merger and integration costs	—			2,145			(2,145)		(100)	%
(Gain) loss on sale of operating assets, net	(2,579)			(6,232)			3,653		(59)	%
Loss on impairment	—			60,702			(60,702)		(100)	%
	668,681			747,617			(78,936)		(11)	%
Operating income (loss)	$	60,083			$	50,400		$	9,683		19	%

(1)We record reimbursements from customers for out-of-pocket expenses as operating revenues and the related direct costs as operating expenses. Changes in the amount of these reimbursables generally do not have a material effect on our financial position, results of operations, or cash flows.

The following table provides information about contract drilling revenue and costs by rig types (dollars in millions except average dayrates):


			Three Months Ended September 30,
			2026		2025
			Floaters		Jackups		Floaters		Jackups
Contract drilling services revenues		$	563.4			$	120.3			$	630.1			$	127.3
Contract drilling services costs		$	375.7			$	92.8			$	381.6			$	98.3
Average rig utilization			63	%		79	%		65	%		54	%
Operating days			1,398			579			1,488			627
Average dayrates			$	403,113			$	207,651			$	423,489			$	202,982
Total rigs	— Beginning		25			6			26			13
	— Acquired		—			—			—			—
	— Disposed		(1)			—			(1)			(1)
	— Ending		24			6			25			12

Contract Drilling Services Revenues

Floaters. During the third quarter of 2026, floaters generated revenue of $563.4 million, as compared to $630.1 million in the third quarter of 2025. The decrease in revenue was mainly attributable to $42.1 million due to a net change in average dayrates in the current period. There was also a decrease of $24.6 million from rigs with net changes in operating days, including approximately $6.3 million related to the previously disclosed operational suspensions of the Noble Faye Kozack and Noble Courage in Brazil, both of which have since resumed operations.

Jackups. During the third quarter of 2026, jackups generated revenue of $120.3 million, as compared to $127.3 million in the third quarter of 2025. The decrease in revenue was mainly attributable to $22.4 million due to a net change in average

dayrates in the current period. The decrease was partially offset by $15.7 million from rigs with net changes in operating days.

Operating Costs and Expenses

Floaters. During the third quarter of 2026, total contract drilling services costs related to floaters was $375.7 million, as compared to $381.6 million in the third quarter of 2025. The primary drivers of this decrease were decreases of $21.1 million in mobilization, $12.1 million in rental equipment, $9.4 million related to rigs while in shipyards, $5.6 million in insurance costs, and $4.2 million in regulatory inspections. These decreases were partially offset by increases of $13.4 million in repairs and maintenance, $11.9 million in labor, and $21.2 million in non-labor costs, operations support costs, and other costs across the fleet.

Jackups. During the third quarter of 2026, total contract drilling services cost related to jackups was $92.8 million, as compared to $98.3 million in the third quarter of 2025. The primary drivers of this decrease were decreases of $2.9 million in regulatory inspections, and $1.6 million in labor. Further, there was a decrease of $4.6 million related to certain rigs sold or no longer operated by Noble.

Depreciation and amortization. Depreciation and amortization totaled $143.4 million and $147.3 million during the third quarter of 2026 and 2025, respectively. Depreciation and amortization decreased primarily due to divestitures during the third quarter of 2026 as well as the timing of capital additions that were placed in service among the periods.

General and administrative. General and administrative expenses totaled $27.3 million and $33.3 million during the third quarter of 2026 and 2025, respectively. The decrease was primarily driven by lower labor costs of $6.6 million. The decrease was partially offset by an increase of $3.5 million in information technology costs.

Merger and integration costs. Noble incurred $2.1 million of merger and integration costs during the third quarter of 2025. The majority of the costs incurred directly related to the agreement and plan of merger, dated June 9, 2024, with Diamond Offshore Drilling, Inc. (“Diamond”), Dolphin Merger Sub 1, Inc., and Dolphin Merger Sub 2, Inc., under which Noble would acquire Diamond in a stock plus cash transaction (the “Diamond Transaction”). Such costs related primarily to professional fees and certain integration-related activities.

(Gain) loss on sale of operating assets, net. During the third quarter of 2026, we recognized a gain of $2.6 million, due primarily to a $2.4 million reduction in the estimated costs to sell the Noble Regina Allen. During the third quarter of 2025, we sold the Noble Highlander and the Pacific Meltem, resulting in a pre-tax gain of $5.6 million.

Loss on impairment. During the third quarter of 2025, we recorded a loss on impairment of $60.7 million to reduce the carrying values of the Noble Globetrotter II and Noble Reacher to their estimated fair value less costs to sell. For additional information, see “Note 4 — Property and Equipment” to our unaudited condensed financial statements.

Other Income and Expenses

Interest expense, net of amounts capitalized. Interest expense totaled $35.0 million and $40.5 million during the third quarter of 2026 and 2025, respectively. Interest expense is primarily related to our 2034 Notes, 2030 Notes, and the Diamond Second Lien Notes (each as defined below). The decrease in the current period is due to less average principal debt outstanding which accrued interest at lower rates. For additional information, see “Note 5 — Debt” to our unaudited condensed consolidated financial statements.

Interest income and other, net. Noble recognized interest income and other expenses of $(9.1) million and interest and other income of $0.7 million during the third quarter of 2026 and 2025, respectively. The current period includes $2.9 million of interest income from the seller notes received from the sale of jackup rigs to Borr Drilling Limited (“Borr”). The current period interest income was offset by the fair value adjustment of the notes receivable acquired pertaining to the transaction with Borr. For additional information, see “Note 9 — Supplemental Financial Information—Notes receivable” to our unaudited condensed consolidated financial statements.

Income tax benefit (provision). Noble recorded an income tax provision of $133.0 million and $31.7 million during the third quarter of 2026 and 2025, respectively.

During the third quarter of 2026, our tax provision included net tax expenses of $15.8 million related to adjustments to valuation allowance for deferred tax expenses primarily in Switzerland and recurring quarterly accruals of $117.3 million mostly in Ghana, Guyana, Luxembourg, Switzerland, and the United States.

During the third quarter of 2025, our tax provision included tax benefits of $6.1 million related to adjustments to valuation allowance for deferred tax benefits primarily in Luxembourg. Such tax benefits were offset by recurring quarterly accruals of $37.9 million mostly in Guyana, Luxembourg, Switzerland, and the United States.

Results for the Nine Months Ended September 30, 2026 and 2025

Net loss for the nine months ended September 30, 2026, was $33.0 million, or $(0.21) per diluted share, on operating revenues of $2.2 billion compared to net income for the nine months ended September 30, 2025, of $130.1 million, or $0.80 per diluted share, on operating revenues of $2.5 billion.

Key Operating Metrics

The following table presents the average rig utilization, operating days, and average dayrates for our rig fleet for the periods indicated:


	Average Rig Utilization (1)		Operating Days (2)		Average Dayrates (2)
	Nine Months Ended September 30,		Nine Months Ended September 30,		Nine Months Ended September 30,
	2026		2025		2026	2025	2026		2025
Floaters	62	%		70	%	4,203		4,993		$	412,776		$	400,483
Jackups (3)	80	%		63	%	1,890		2,222		196,136		177,321
Total	67	%		67	%	6,093		7,215		$	345,565		$	331,767

(3)For 2026, the figures include rigs sold to Borr, which are/were operating under a bareboat charter agreement.

Contract Drilling Services

The following table presents the operating results for our contract drilling services segment for the periods indicated (dollars in thousands):


	Nine Months Ended September 30,		Change
Operating revenues:	2026		2025		$		%
Contract drilling services	$	2,105,647			$	2,401,910		$	(296,263)		(12)	%
Reimbursables and other (1)	128,495			119,246			9,249		8	%
	$	2,234,142			$	2,521,156		$	(287,014)		(11)	%
Operating costs and expenses:
Contract drilling services	$	1,364,950			$	1,444,420		$	(79,470)		(6)	%
Reimbursables (1)	96,246			90,691			5,555		6	%
Depreciation and amortization	420,354			437,482			(17,128)		(4)	%
General and administrative	84,278			103,485			(19,207)		(19)	%
Merger and integration costs	2,615			22,367			(19,752)		(88)	%
(Gain) loss on sale of operating assets, net	(92,437)			(10,983)			(81,454)		742	%
Loss on impairment	42,270			60,702			(18,432)		(30)	%
	1,918,276			2,148,164			(229,888)		(11)	%
Operating income (loss)	$	315,866			$	372,992		$	(57,126)		(15)	%

The following table provides information about contract drilling revenue and costs by rig types (dollars in millions except average dayrates):


			Nine Months Ended September 30,
			2026		2025
			Floaters		Jackups		Floaters		Jackups
Contract drilling services revenues		$	1,734.8			$	370.8			$	2,007.9			$	394.0
Contract drilling services costs		$	1,095.4			$	269.6			$	1,165.0			$	279.4
Average rig utilization			62	%		80	%		70	%		63	%
Operating days			4,203			1,890			4,993			2,222
Average dayrates			$	412,776			$	196,136			$	400,483			$	177,321
Total rigs	— Beginning		25			11			27			13
	— Acquired		—			—			—			—
	— Disposed		(1)			(5)			(2)			(1)
	— Ending		24			6			25			12

Contract Drilling Services Revenues

Floaters. During the nine months ended September 30, 2026, floaters generated revenue of $1.7 billion, as compared to $2.0 billion in the nine months ended September 30, 2025. The decrease in revenue was mainly attributable to $239.8 million from rigs with net changes in operating days, which included approximately $47.7 million related to the previously disclosed operational suspensions of the Noble Faye Kozack and Noble Courage in Brazil, both of which have since resumed operations. There was also a decrease of $24.7 million due to a net change in average dayrates in the current period. Additionally, floater revenue from net non-cash amortization related to off-market customer contract assets and liabilities decreased $8.3 million in the current period.

Jackups. During the nine months ended September 30, 2026, jackups generated revenue of $370.8 million, as compared to $394.0 million in the nine months ended September 30, 2025. The decrease in revenue was mainly attributable to a decrease of $17.3 million from rigs with net changes in operating days during the current period. There was also a decrease of $5.7 million due to a net change in average dayrates in the current period.

Operating Costs and Expenses

Floaters. During the nine months ended September 30, 2026, total contract drilling services costs related to floaters was $1.1 billion, as compared to $1.2 billion in the nine months ended September 30, 2025. The primary drivers of this decrease were decreases of $40.1 million in rental equipment, $26.7 million related to rigs while in shipyards, $13.5 million in regulatory inspections, $6.5 million in repairs and maintenance, and $6.3 million in insurance costs. Further, there was a decrease of $9.4 million related to certain rigs sold or no longer operated by Noble. These decreases were partially offset by increases of $7.0 million in fuel, $6.0 million in labor, and $8.4 million in non-labor costs, operations support costs, and other costs across the fleet, and a net decrease of $11.4 million in insurance proceeds received compared to prior year.

Jackups. During the nine months ended September 30, 2026, total contract drilling services cost related to jackups was $269.6 million, as compared to $279.4 million in the nine months ended September 30, 2025. The primary drivers of this decrease were decreases of $10.1 million in mobilization, $7.9 million in regulatory inspections, $3.5 million related to rigs while in shipyards, and $3.0 million in transportation and storage. Further, there was a decrease of $18.6 million related to certain rigs sold or no longer operated by Noble. These decreases were partially offset by an increase of $13.3 million in non-labor costs, operations support costs, and other costs across the fleet, and $20.0 million in insurance proceeds received during the prior year.

Depreciation and amortization. Depreciation and amortization totaled $420.4 million and $437.5 million during the nine months ended September 30, 2026 and 2025, respectively. Depreciation and amortization decreased primarily due to divestitures during the current period as well as the timing of capital additions that were placed in service among the periods.

General and administrative. General and administrative expenses totaled $84.3 million and $103.5 million during the nine months ended September 30, 2026 and 2025, respectively. The decrease was primarily driven by lower labor costs of $10.0 million, $2.1 million in training costs, $1.2 million in professional fees. The decrease was partially offset by an increase of $2.2 million in information technology costs.

Merger and integration costs. Noble incurred $2.6 million and $22.4 million of merger and integration costs during the nine months ended September 30, 2026 and 2025, respectively. During the nine months ended September 30, 2026 and 2025, all and the majority of costs incurred, respectively, directly related to the Diamond Transaction. In both periods, such costs related primarily to professional fees and certain integration-related activities.

(Gain) loss on sale of operating assets, net. During the nine months ended September 30, 2026, we sold the Noble Tom Prosser, Noble Mick O'Brien, Noble Regina Allen, Noble Resilient, Noble Resolute, and Ocean Apex resulting in a pre-tax gain of $92.4 million. During the nine months ended September 30, 2025, we sold the Noble Highlander, Pacific Meltem, and Pacific Scirocco, resulting in a pre-tax gain of $11.0 million.

Loss on impairment. During the nine months ended September 30, 2026, we recorded a loss on impairment of $42.3 million to reduce the carrying value of the Ocean Apex to its estimated fair value less costs to sell. During the nine months ended September 30, 2025, we recorded a loss on impairment of $60.7 million to reduce the carrying values of the Noble Globetrotter II and Noble Reacher to their estimated fair value less costs to sell. For additional information, see “Note 4 — Property and Equipment” to our unaudited condensed financial statements.

Other Income and Expenses

Interest expense, net of amounts capitalized. Interest expense totaled $111.8 million and $121.0 million during the nine months ended September 30, 2026 and 2025, respectively. Interest expense is primarily related to our 2034 Notes, 2030 Notes, and the Diamond Second Lien Notes (each as defined below). The decrease in the current period is due to less average principal debt outstanding which also accrued interest at lower rates. For additional information, see “Note 5 — Debt” to our unaudited condensed consolidated financial statements.

Interest income and other, net. Noble recognized interest and other income of $2.8 million and $7.3 million during the nine months ended September 30, 2026 and 2025, respectively. The current period includes $10.3 million of interest income from the seller notes received from the sale of jackup rigs to Borr. The current period interest income was offset by

the fair value adjustment of the notes receivable acquired pertaining to the transaction with Borr. For additional information, see “Note 9 — Supplemental Financial Information—Notes receivable” to our unaudited condensed consolidated financial statements.

Income tax benefit (provision). Noble recorded an income tax provision of $222.3 million and $129.2 million during the nine months ended September 30, 2026 and 2025, respectively.

During the nine months ended September 30, 2026, our tax provision included tax benefits of $23.9 million primarily related to adjustments to valuation allowances for deferred tax benefits primarily in Nigeria. Such tax benefits were offset by tax effects of $23.5 million related to the gain on sale of operating assets and recurring quarterly accruals of $222.7 million mostly in Ghana, Guyana, Luxembourg, Switzerland, and the United States.

During the nine months ended September 30, 2025, our tax provision included tax benefits of $85.1 million related to releases of valuation allowance for deferred tax benefits primarily in Luxembourg. Such tax benefits were offset by tax expenses related to recurring quarterly accruals of $214.3 million mostly in Guyana, Luxembourg, Switzerland, and the United States.

Liquidity and Capital Resources

Sources and Uses of Cash

Our principal source of capital in the current period was cash generated from operating activities as well as net proceeds from the issuance of the 2034 Notes (as defined below). Cash on hand during the current period was primarily used for the following:

•normal recurring operating expenses;

•capital expenditures;

•redemptions of debt and payment of related accrued interest;

•dividend payments; and

•certain contractual cash obligations and commitments.

Our anticipated cash flow needs, both in the short term and long term, may also include share repurchases and repurchases or repayments of debt and interest.

We currently expect to fund our cash flow needs with cash generated by our operations, cash on hand, proceeds from sales of assets, or borrowings under the Revolving Credit Facility (as defined below), and we believe this will provide us with sufficient liquidity to fund our cash flow needs over the next 12 months. Additional liquidity is anticipated through the sale of our notes receivable (for more information, see “Note 9 - Supplemental Financial Information” to our unaudited condensed financial statements). Subject to market conditions and other factors, we may also issue equity or long-term debt securities to fund our cash flow needs and for other purposes.

Net cash provided by operating activities was $561.9 million and $764.6 million for the nine months ended September 30, 2026 and 2025, respectively. The decrease in net cash provided by operating activities for the nine months ended September 30, 2026, was primarily attributable to the sale of five jackup rigs to Borr as well as the operational suspensions in Brazil during the second and third quarters of 2026. We had working capital of $546.4 million at September 30, 2026, and $512.6 million at December 31, 2025.

Net cash used in investing activities was $282.8 million and $243.7 million for the nine months ended September 30, 2026 and 2025, respectively. The increase in net cash used in investing activities for the nine months ended September 30, 2026, was attributable to capital expenditures on routine projects associated with overhauls and upgrades on various rigs. This was offset by proceeds received from the disposal of rigs.

Net cash used in financing activities was $421.7 million and $288.6 million for the nine months ended September 30, 2026 and 2025, respectively. During the nine months ended September 30, 2026, we issued $800.0 million of new 2034 Notes (as defined below), including debt extinguishment and issuance costs of $40.7 million and $17.6 million, respectively, repaid $850.0 million of debt, made dividend payments to our shareholders of $243.1 million, made finance lease payments of $63.6 million, and paid $9.9 million in taxes withheld on vested employee share-based compensation awards. During the nine months ended September 30, 2025, we repurchased 0.7 million of our Ordinary Shares for a total of $20.0 million,

made dividend payments to our shareholders of $240.4 million, and paid $9.7 million in taxes withheld on vested employee share-based compensation awards.

At September 30, 2026, we had a total contract drilling services backlog of approximately $6.8 billion, which includes a commitment of 66% of available days for the remainder of 2026. For additional information regarding our backlog, see “Contract Drilling Services Backlog.”

Capital Expenditures

Capital expenditures were $500.4 million and $367.8 million for the nine months ended September 30, 2026 and 2025, respectively.

Capital expenditures in each period consisted of outlays for sustaining capital, major projects, including subsea and other related projects, capital spares, rebillable capital and contract modifications, and capitalized interest.

Our total capital expenditures estimate for the year ending December 31, 2026, is expected to range between $680.0 million and $705.0 million. We expect to fund these capital expenditures with cash generated by our operations and cash on hand.

From time to time we consider possible projects and certain events may occur that would require expenditures that are not included in our capital budget, and such unbudgeted expenditures could be significant. This includes additional capital expenditures to upgrade rigs for specific customer requirements or contracts. The total amount of capital that we ultimately spend is partly dependent on broader market conditions, the actual level of current and expected contracting activity, as well as costs related to satisfying regulatory requirements. Given many of our capital related projects can take considerable time to complete, the actual costs and timing of expenditures may vary materially from estimates based on various factors, many of which are out of our control. In addition, while liquidity and preservation of capital remains our top priority, we will continue to evaluate acquisitions of drilling units from time to time.

Amended and Restated Senior Secured Revolving Credit Agreement

On May 29, 2026, we amended the Amended and Restated Senior Secured Revolving Credit Agreement, dated April 18, 2023, and as previously amended on June 24, 2024, and December 16, 2025 (the “Revolving Credit Facility”). The amendment to the Revolving Credit Facility increased the commitments to $650.0 million and extended the maturity date to May 2031. Subsequently, on September 16, 2026, we made an additional amendment to the Revolving Credit Facility to clarify the types of bilateral credit instruments which may be secured thereunder. The guarantors under the Revolving Credit Facility are the same subsidiaries of Noble Finance II LLC, a wholly-owned, indirect subsidiary of Noble (“Noble Finance II”), that are or will be guarantors of the 2030 Notes and the 2034 Notes (each as defined below).

As of September 30, 2026, we had no borrowings outstanding and $6.7 million of letters of credit issued under the Revolving Credit Facility and an additional $110.7 million in letters of credit and surety bonds issued under bilateral arrangements. For additional information about the Revolving Credit Facility, see “Note 5 — Debt” to our unaudited condensed consolidated financial statements.

6.250% Senior Notes due 2034

On June 11, 2026, Noble Finance II issued $800.0 million in aggregate principal amount of its 6.250% Senior Notes due 2034 (the “2034 Notes”). The 2034 Notes were issued pursuant to an indenture, dated June 11, 2026, among Noble Finance II, the subsidiaries of Noble Finance II party thereto, as guarantors, and the trustee. The net proceeds from the offering of the 2034 Notes together with cash on hand were primarily used to fund the redemption of $300.0 million of outstanding principal amount pertaining to the 8.000% Senior Notes due 2030 and the entirety of the outstanding aggregate principal amount pertaining to the 8.500% Senior Secured Second Lien Notes due 2030 as well as to pay any premiums, fees, and expenses related to the issuance of the 2034 Notes. As of September 30, 2026, we had outstanding $800.0 million aggregate principal amount of our 2034 Notes. For additional information about the 2034 Notes, see “Note 5 — Debt” to our unaudited condensed consolidated financial statements.

8.000% Senior Notes due 2030

In 2023, Noble Finance II issued $600.0 million in aggregate principal amount of its 8.000% Senior Notes due 2030 (the “Initial 2030 Notes”). The Initial 2030 Notes were issued pursuant to an indenture, dated April 18, 2023 (as supplemented or otherwise modified from time to time), among Noble Finance II, the subsidiaries of Noble Finance II party thereto, as guarantors, and the trustee. In August 2024, Noble Finance II issued an additional $800.0 million in aggregate principal amount of its 8.000% Senior Notes due 2030 (the “Additional 2030 Notes” and, together with the Initial 2030 Notes, the

“2030 Notes”) at a premium of 103% bringing the total outstanding principal amount to $1.4 billion. The Additional 2030 Notes were issued pursuant to the indenture governing the Initial 2030 Notes and the net proceeds from the offering of the Additional 2030 Notes were primarily used to fund the cash consideration in the Diamond Transaction and to pay any premiums, fees, and expenses related to the issuance of the Additional 2030 Notes. On June 11, 2026, Noble Finance II redeemed $300.0 million aggregate principal amount of the 2030 Notes for $312.0 million. As of September 30, 2026, we had outstanding $1.1 billion aggregate principal amount of our 2030 Notes. For additional information about the 2030 Notes, see “Note 5 — Debt” to our unaudited condensed consolidated financial statements.

8.500% Senior Secured Second Lien Notes due 2030

In connection with the agreement and plan of merger, dated June 9, 2024, with Diamond, Dolphin Merger Sub 1, Inc., and Dolphin Merger Sub 2, Inc., under which Noble acquired Diamond in the context of the Diamond Transaction, the Company assumed $550.0 million aggregate principal amount of 8.500% Senior Secured Second Lien Notes due October 2030 (the “Diamond Second Lien Notes”) issued pursuant to an indenture, dated as of September 21, 2023 (as supplemented and otherwise modified from time to time, the “Diamond Second Lien Indenture”), among Diamond Foreign Asset Company and Diamond Finance, LLC, as issuers, Noble Offshore Drilling, Inc. (formerly known as Dolphin Merger Sub 2, Inc. and as successor by merger with Diamond) (“NODI”), certain of NODI’s subsidiaries party thereto, as guarantors, and the trustee and collateral agent. On March 27, 2026, Diamond Foreign Asset Company redeemed $55.0 million aggregate principal amount of the Diamond Second Lien Notes for $56.7 million. On June 11, 2026, Diamond Foreign Asset Company redeemed the remaining $495.0 million aggregate principal amount of the Diamond Second Lien Notes for $522.1 million. As of September 30, 2026, no Diamond Second Lien Notes remained outstanding, the Diamond Second Lien Indenture had been satisfied and discharged in accordance with its terms, and the related liens and security interests had been released, in each case subject to those provisions that by their terms survive the satisfaction and discharge. For additional information about the Diamond Second Lien Notes, see “Note 5 — Debt” to our unaudited condensed consolidated financial statements.

Noble Finance II Financial Information

The indentures governing the 2030 Notes and the 2034 Notes contain covenants that require Noble Finance II to furnish to holders of the 2030 Notes and the 2034 Notes certain financial information relating to Noble Finance II and its restricted subsidiaries. The obligation to furnish such information may be satisfied by providing financial information of Noble along with a description of the differences between such information and the financial information of Noble Finance II and its restricted subsidiaries on a standalone basis. As a result of Noble conducting substantially all of its business through Noble Finance II, the financial position and results of operations for Noble Finance II are the same as the information presented for Noble in all material respects. For the three and nine months ended September 30, 2026, Noble Finance II’s operating income (loss) was $10.3 million and $30.9 million higher, respectively, than that of Noble. The operating income (loss) difference is primarily a result of expenses related to corporate professional and legal costs and administration charges attributable to Noble for operations support and stewardship-related services.

Dividends

On October 26, 2026, Noble’s Board of Directors declared an interim quarterly cash dividend on our Ordinary Shares of $0.50 per share. This dividend will be paid on December 17, 2026, to shareholders of record at close of business on November 25, 2026.

The declaration and payment of dividends require authorization of the Board of Directors, provided that such dividends on issued share capital may be paid only out of the Company’s “distributable reserves” as determined by reference to relevant statutory accounts in accordance with English law. The Company is not permitted to pay dividends out of share capital, which includes share premiums. The payment of future dividends will depend on our results of operations, financial condition, cash requirements, future business prospects, the availability of sufficient distributable reserves, contractual and indenture restrictions, and other factors deemed relevant by our Board of Directors. During each of the quarters ended September 30, 2026 and 2025, we declared and paid a dividend of $0.50 per share.

Share Repurchases

Under English law, the Company is only permitted to purchase its own Ordinary Shares by way of an “off-market purchase” pursuant to a contract approved by shareholders (except where the purchase is for the purposes of, or pursuant to, any employees’ share scheme). Such purchases may be paid for either (i) out of the Company’s “distributable reserves” as determined by reference to relevant statutory accounts in accordance with English law or (ii) from the proceeds of a fresh issue of shares made for the purpose of financing the purchase. On October 22, 2024, the Company’s Board of Directors authorized an increased share repurchase authorization of up to an additional $400.0 million and, at the 2025 annual

general meeting of shareholders, shareholders approved the repurchase of up to 23,800,068 Ordinary Shares. The authorization by the Board of Directors has approximately $370.0 million remaining, does not have a fixed expiration, and may be modified, suspended, or discontinued at any time. None of the shareholder authorization to purchase up to 23,800,068 Ordinary Shares has yet been utilized and the authorization by shareholders expires on May 8, 2030 (subject to certain exceptions). The program does not obligate the Company to acquire any particular amount of Ordinary Shares. During the three and nine months ended September 30, 2026, the Company repurchased none of the Company’s Ordinary Shares. During the three and nine months ended September 30, 2025, the Company repurchased none and 0.7 million of the Company’s Ordinary Shares, respectively. All repurchased shares were subsequently cancelled, and the nominal value of the repurchased shares was transferred to the Capital Redemption reserve. Under this program, repurchases may be made from time to time using a variety of methods such as open market purchases and privately negotiated transactions, in compliance with relevant rules and regulations. In establishing this program, the Board considered the benefits to shareholders of providing the business with this additional capital allocation flexibility to promote long-term value for shareholders alongside other uses of capital.

Critical Accounting Estimates

We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States, which require us to make estimates that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures of contingent assets and liabilities. We base our estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results may differ from our estimates and assumptions, and any such differences could be material to our consolidated financial statements. Some of our significant accounting policies involve critical accounting estimates because they are particularly dependent on estimates and assumptions made by Noble about matters that are inherently uncertain. We disclose our significant accounting policies in “Note 1 — Organization and Significant Accounting Policies” to our audited consolidated financial statements included in Part II, Item 8 of our Form 10-K.

For information about our critical accounting policies and estimates, see Part II, Item 7, “Management's Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Estimates” in our Form 10-K. As of September 30, 2026, there have been no material changes to the judgments, assumptions, and estimates upon which our critical accounting policies and estimates are based.

See Part I, Item 1, Financial Statements, “Note 2 — Accounting Pronouncements,” to the unaudited condensed consolidated financial statements for a description of the recent accounting pronouncements.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

There has been no significant change in our exposure to market risk when compared to those disclosed in Part II, Item 7A. “Quantitative and Qualitative Disclosures about Market Risk” in our Form 10-K.

Item 4. Controls and Procedures

Conclusions Regarding Disclosure Controls and Procedures

Robert W. Eifler, President and Chief Executive Officer (Principal Executive Officer) of Noble, and Richard B. Barker, Executive Vice President and Chief Financial Officer (Principal Financial Officer) of Noble, have evaluated the disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of Noble as of the end of the period covered by this report. On the basis of this evaluation, our Principal Executive Officer and Principal Financial Officer have concluded that Noble’s disclosure controls and procedures were effective as of September 30, 2026. Noble’s disclosure controls and procedures are designed to ensure that information required to be disclosed by Noble in the reports that it files or submits under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to management, including its Principal Executive Officer and Principal Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

Changes in Internal Control Over Financial Reporting

There were no changes in Noble’s internal control over financial reporting that occurred during the quarter ended September 30, 2026, that have materially affected, or are reasonably likely to materially affect, the internal control over financial reporting of Noble.

Limitations on the Effectiveness of Controls

Internal control over financial reporting includes the controls themselves, monitoring (including internal auditing practices), and actions taken to correct deficiencies as identified. There are inherent limitations to the effectiveness of internal control over financial reporting, however well designed, including the possibility of human error and the possible circumvention or overriding of controls. The design of an internal control system is also based in part upon assumptions and judgments made by management about the likelihood of future events, and there can be no assurance that an internal control will be effective under all potential future conditions. As a result, even an effective system of internal controls can provide no more than reasonable assurance with respect to the fair presentation of financial statements and the processes under which they were prepared.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

Information regarding legal proceedings is presented in “Note 8 — Commitments and Contingencies,” to our unaudited condensed consolidated financial statements included in Item 1 of Part I of this Quarterly Report on Form 10-Q and is incorporated herein by reference.

Item 1A. Risk Factors

There are numerous factors that affect our business and results of operations, many of which are beyond our control. You should carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our Form 10-K for the year ended December 31, 2025, which contain descriptions of significant risks that might cause our actual results of operations in future periods to differ materially from those currently anticipated or expected. There have been no material changes from the risk factors disclosed in our Form 10-K for the year ended December 31, 2025.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Exercises of Warrants

During the three months ended September 30, 2026:

•4,902 Ordinary Shares were issued to holders of our Tranche 1 Warrants pursuant to exercises of 5,397 Tranche 1 Warrants; and

•6,083 Ordinary Shares were issued to holders of our Tranche 2 Warrants pursuant to exercises of 6,631 Tranche 2 Warrants.

Such Ordinary Shares were issued pursuant to the exemptions from the registration requirements of the Securities Act under Section 4(a)(2) under the Securities Act or Section 1145 of the Bankruptcy Code. For more information on the terms of exercise and other features of the warrants, see our Form 10-K.

Item 5. Other Information

Our directors and executive officers may from time to time enter into plans or other arrangements for the purchase or sale of our Ordinary Shares that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or may represent a non-Rule 10b5-1 trading arrangement under the Exchange Act. During the three months ended September 30, 2026, no such plans or other arrangements were adopted, terminated, or modified.

Item 6. Exhibits

The following exhibits are filed as part of this Quarterly Report on Form 10-Q.

Index to Exhibits


Exhibit Number		Exhibit

2.1†		Business Combination Agreement, dated as of November 10, 2021, by and among Noble Corporation, Noble Finco Limited (n/k/a Noble Corporation plc), Noble Newco Sub Limited and The Drilling Company of 1972 A/S (filed as Exhibit 2.1 to Noble Corporation’s Current Report on Form 8-K filed on November 10, 2021, and incorporated herein by reference).

2.2		Amendment No. 1 to Business Combination Agreement, dated as of August 5, 2022, by and among Noble Corporation plc, Noble Corporation, Noble Newco Sub Limited and The Drilling Company of 1972 A/S (filed as Exhibit 2.1 to Noble Corporation’s Current Report on Form 8-K filed on August 5, 2022, and incorporated herein by reference).

2.3†		Agreement and Plan of Merger, dated as of June 9, 2024, by and among Noble Corporation plc, Diamond Offshore Drilling, Inc., Dolphin Merger Sub 1, Inc. and Dolphin Merger Sub 2, Inc. (filed as Exhibit 2.1 to Noble’s Current Report on Form 8-K filed on June 10, 2024, and incorporated herein by reference).

3.1		Amended and Restated Articles of Association of Noble Corporation plc (filed as Exhibit 3.1 to Noble’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, and incorporated herein by reference).

10.1*		Fo u rth Amendment to the Amended and Restated Senior Secured Revolving Credit Agreement, dated as of September 16, 2026 , among Noble Finance II LLC, Noble International Finance Company, as a designated borrower, the other credit parties party thereto, the lender s party thereto, and JPMorgan Chase Bank, N.A., as administrative agent .

31.1*		Certification of Robert W. Eifler, pursuant to the U.S. Securities Exchange Act of 1934, as amended, Rule 13a-14(a) or Rule 15d-14(a).

31.2*		Certification of Richard B. Barker, pursuant to the U.S. Securities Exchange Act of 1934, as amended, Rule 13a-14(a) or Rule 15d-14(a).

32.1+		Certification of Robert W. Eifler, pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2+		Certification of Richard B. Barker, pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS		Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

101.SCH		Inline XBRL Taxonomy Extension Schema Document.

101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.

101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.

101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.

101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.

104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

______________________________________________________________________________________________________________________________________________________________________________________________________________________

† Certain portions of the exhibit have been omitted. The Company agrees to furnish a supplemental copy with any omitted information to the SEC upon request.

* Filed herewith.

+ Furnished in accordance with Item 601(b)(32)(ii) of Regulation S-K.

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 thereunto duly authorized.

Noble Corporation plc, a public limited company formed under the laws of England and Wales



/s/ Richard B. Barker		October 27, 2026
Richard B. Barker Executive Vice President and Chief Financial Officer (Principal Financial Officer)		Date

/s/ Jeffrey K. Hunt		October 27, 2026
Jeffrey K. Hunt Vice President, Chief Accounting Officer (Principal Accounting Officer)		Date

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