Ensco Commences Offering of Senior Notes

LONDON–(BUSINESS WIRE)–Ensco plc (NYSE:ESV) announced today that it has commenced an
underwritten offering of Senior Notes due 2026 (the “2026 Notes”).

Concurrent with the notes offering, Ensco is conducting offers to
purchase for cash up to $492,500,000 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 (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 preliminary 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 is being
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
Nick Georgas, 713-430-4607
Director – Investor
Relations and Communications