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Results of Operations and Financial

Preliminary First Quarter 2016 Results

Ensco plc is furnishing the following preliminary estimated financial information for the quarter ended March31, 2016:

Operating revenues are expected to be between $812 million and $817 million, benefiting from estimated reported utilization between 64% and 66%, as compared to the low-60% range in our first quarter 2016 outlook disclosed on our February25, 2016 conference call, and average day rates that declined by approximately 3% to 4%, as compared to a 7% to 8% decline in our prior disclosed outlook.

Contract drilling expense is anticipated to be between $361 million and $366 million, as compared to our prior disclosed outlook of $385 million to $390 million.

N o anticipated loss on impairment.

Depreciation expense is expected to be approximately $113 million, in line with our prior disclosed outlook.

General and administrative expense is estimated to be between $23 million and $24 million, significantly better than fourth quarter 2015 general and administrative expense of $30 million.

Other expense is expected to be between $64 million and $65 million, compared to our prior disclosed outlook of $62 million.

As of March31, 2016, our total debt, cash and cash equivalents and short-term investments are expected to be $5.9 billion, $1.1 billion and $295 million, respectively. On a pro forma basis after giving effect to our tender offers for $861 million aggregate...


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