Ensco Announces Pricing of Upsized $1.0 Billion Offering of Unsecured Senior Notes Due 2026

LONDON–(BUSINESS WIRE)–Ensco plc (NYSE:ESV) announced today that it has priced an upsized
offering of $1.0 billion principal amount of 7.75% Senior Notes due 2026
(the “2026 Notes”) at 100% of par. The expected settlement date for the
offering is 26 January 2018, subject to customary closing conditions.

Concurrent with the notes offering and as previously announced, Ensco is
conducting offers to purchase for cash up to $985,000,000 aggregate
purchase price (exclusive of accrued interest) of (i) the outstanding
8.50% Senior Notes due 2019 issued by Pride International, Inc., a
wholly owned subsidiary of Ensco (“Pride”), (ii) the outstanding 6.875%
Senior Notes due 2020 issued by Pride and (iii) the outstanding 4.70%
Senior Notes due 2021 issued by Ensco. The terms and conditions of the
tender offers are described in an Offer to Purchase dated January 10,
2018 (as amended and supplemented, the “Offer to Purchase”). Ensco
intends to use the net proceeds from the notes offering to fund the
purchase price, which includes any applicable tender premium, payable
with respect to the repurchase notes in the tender offers, as well as
for general corporate purposes.

Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. are
acting as global coordinators and bookrunners in connection with the
offering. The final prospectus supplement and related prospectus for
this offering may be obtained on the Securities and Exchange
Commission’s website at www.sec.gov
or, upon request, from any of the representatives of the underwriters:

This press release is not an offer to sell or the solicitation of an
offer to buy the 2026 Notes, nor shall there be any sale of the 2026
Notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The 2026 Notes will be offered
only by means of a prospectus meeting the requirements of Section 10 of
the U.S. Securities Act of 1933. The offering of the 2026 Notes was made
pursuant to an effective shelf registration statement and prospectus
filed by Ensco with the SEC. The tender offers are being made pursuant
to the Offer to Purchase, and this press release is not an offer to
purchase with respect to any of the outstanding notes subject to the
tender offers. There can be no assurance that Ensco will consummate the
tender offers.

Ensco plc (NYSE: ESV) is a global provider of offshore drilling services
to the petroleum industry. Ensco plc is an English limited company
(England No. 7023598) with its corporate headquarters located at 6
Chesterfield Gardens, London W1J 5BQ.

Contacts

Ensco plc
Investor & Media Contact:
Nick Georgas,
713-430-4607
Director – Investor Relations and Communications