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Actionable news in NE: NOBLE CORPORATION,

Noble: Form, Schedule Or Registration Statement No Filing Party: Date Filed:

The following excerpt is from the company's SEC filing.

Noble Corporation plc

Compensation Overview

2015 Financial and

Operational Highlights

Transforming our fleet into one of the most

modern in the industry

Lowering the average age of fleet from 25 years in

2013 to 10 years in February 2016

Strengthening our position to weather current

market challenges

Securing contract backlog of $6.9 billion at 12/31/15

Achieving financial success and returning value

2015 Adjusted EPS from continuing operations rose

17% to $2.59*

Debt to total capitalization ratio declined from 40%

to 38% during 2015

Operating costs declined 18% during 2015

Paid 2015 dividends of $316m

Operating at a high level of safety/efficiency

*See last slide for non-GAAP adjustments

The Current Environment

Market Realities:

Crude oil price decline of more than 66% from 3Q 2014

to 1Q 2016

Oversupply of drilling rigs during period of slackening

demand

Noble Reality:

Created modern, high-specification fleet with a

commercial competitive advantage

Secured large backlog with $2.2b coverage for 2016 and

significant contract coverage in 2017 and beyond

Reduced operating costs through strict cost control

efforts and lower capital expense costs as newbuild

program is completed and rigs are deployed

Current Noble Position among

Offshore Drillers

Noble now positioned to:

Weather current market challenges

Exploit commercial advantage from our

technically advanced and young fleet

Reap benefits of advantageous capital position

and backlog compared to peer companies

Take advantage of opportunities during down

We dont control oil price but have

strategically controlled our position in

Our Compensation Program

and 2015 Highlights...


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