ARO Drilling Investor Presentation August 2021

ARO Drilling is a 50/50 joint venture between Valaris and Saudi Aramco focused on owning and operating jackup drilling rigs in Saudi Arabia. The company plans to construct 20 newbuild rigs over the next decade, supported by long-term contracts with Saudi Aramco and $1.25 billion capital commitments from each shareholder. As of mid-2021, ARO maintained a cash balance of $318 million with 2020 EBITDA of $137 million.