Valaris (VAL) Proxy filing summary

Executive summary

• Shareholders were urged to vote at the November 24, 2026 Court Meeting on the proposed business combination with Transocean; the board unanimously recommends the Transaction Resolution and related proposals.

• The transaction is structured as a Bermuda scheme of arrangement under the February 9, 2026 Business Combination Agreement; the joint definitive proxy statement was filed October 14, 2026.

Voting matters and shareholder proposals

• The board recommends voting FOR the Transaction Resolution and related proposals; shareholders were asked to vote promptly by internet, telephone, or proxy card.

• Shareholder approval is among the conditions to completing the transaction; the Court Meeting is scheduled for November 24, 2026.

Board of directors and corporate governance

• The board unanimously supports the transaction and related proposals.