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Investor Presentation

March 2015

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Statements contained in this presentation that are not historical facts are forward-looking statements within themeaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.Forward-looking statements include words or phrases such as “anticipate,” “believe,” “estimate,” “expect,”“intend,” “plan,” “project,” “could,” “may,” “might,” “should,” “will” and similar words and specifically includestatements regarding expected financial performance and return of capital, effective tax rate, day rates andbacklog; the timing of delivery, mobilization, contract commencement, relocation or other movement of rigs; andgeneral market, business and industry conditions, trends and outlook. Such statements are subject tonumerous risks, uncertainties and assumptions that may cause actual results to vary materially from thoseindicated, including commodity price fluctuations, customer demand, new rig supply, downtime and other risksassociated with offshore rig operations, relocations, severe weather or hurricanes; changes in worldwide rigsupply and demand, competition and technology; future levels of offshore drilling activity; governmental action,civil unrest and political and economic uncertainties; terrorism, piracy and military action; risks inherent toshipyard rig construction, repair, maintenance or enhancement; possible cancellation or suspension of drillingcontracts as a result of mechanical difficulties, performance, customer finances, the decline or the perceivedrisk of a further decline in oil and/or natural gas prices, or other reasons; the outcome of litigation, legalproceedings, investigations or other claims or contract disputes; governmental regulatory, legislative andpermitting requirements affecting drilling operations; our ability to attract and retain skilled personnel oncommercially reasonable terms; environmental or other liabilities, risks or losses; debt restrictions that may limitour liquidity and flexibility; our ability to realize the expected benefits from our redomestication and actualcontract commencement dates; cybersecurity risks and threats; and the occurrence or threat of epidemic orpandemic diseases or any governmental response to such occurrence or threat. In addition to the numerousfactors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of ourmost recent annual report on Form 10-K, which are available on the SEC’s website at www.sec.gov or on theInvestor Relations section of our website at www.enscoplc.com. Each forward-looking statement speaks onlyas of the date of the particular statement, and we undertake no obligation to publicly update or revise anyforward-looking statements, except as required by law.

Forward-Looking Statements

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Profile

• #1 in customer satisfaction – five consecutive years

• Highest net income margins among major competitors

• Best ever total recordable incident rate in 2014

• High-quality fleet of floaters and jackups

• Broad diversification: customer, geography, rig type

• Capital management flexibility

– $1.4 billion of cash and short term investments

– $2.25 billion revolving credit facility

– investment grade credit ratings

– $9.7 billion of contracted revenue backlog

• 2%+ dividend yield

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4Q14 Results

• $546 million cash flow from operating activities

– 98% operational utilization for jackups

– 90% operational utilization for floaters

• Fleet highgrading continues

– classified 4 rigs as discontinued operations

– cold stacking 7 held-for-sale rigs to quickly reduce expenses

• $3.9 billion total non-cash impairments

– $3.0 billion goodwill

– $925 million asset

• Total debt-to-capital ratio increased to 42%

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Additional Actions Taken in Response to Market Downturn

• Reduced quarterly dividend to $0.15 per share to improve capital management flexibility during downturn

• Decrease operating expenses by cold stacking four rigs in continuing operations – three jackups in U.S. Gulf of Mexico and ENSCO 8502 – with limited near-term contracting opportunities

• Reducing offshore discretionary compensation and onshore support costs

– 9% unit labor cost decrease beginning 2Q15 for offshore compensation

– 15% Reduction in Force for onshore personnel including corporate staff

o $27 million annualized savings beginning in 2Q14

o $5 million up-front severance costs in 1Q14 to achieve savings

• Negotiating with vendors and suppliers to lower costs

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Market Environment

• Sharp drop in commodity prices accelerated beginning late fourth quarter 2014

• New lows/increased volatility for oil prices during customers’ budget season

• Capital expenditures will decline in 2015 as customers re-evaluate programs in light of lower commodity prices

• Customers shortening contracts where permitted and requesting concessions

• Uncontracted newbuilds and customer sublets creating additional supply

• Aging of current global fleet should lead to more retirements and stacking, especially as rigs approach 30/35 year surveys

• Some newbuilds being cancelled and others being delayed

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Declining Commodity Pricesand Increasing Volatility

Source: Thomson One; commodity prices indexed to 31 December 2013 close prices; data through 23 February 2015

-60%

-50%

-40%

-30%

-20%

-10%

0%

10%

20%

Brent WTI

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Current Market

Newbuilds

Floaters JackupsContracted 238 338Uncontracted 28 33Stacked Marketed Rigs 20 38Total 286 409

% Contracted 83% 83%

Under Construction 58 101On Order / Planned 25 17Total 83 118

Contracted 55% 8%

Uncontracted 45% 92%

ActiveFleet

Source: IHS-ODS Petrodata as of February 2015; competitive marketed floaters and jackups; jackups are independent leg cantilever rigs

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Newbuild Jackup Order Book

Source: IHS-ODS Petrodata as of February 2015; marketed competitive jackups

118 Total

67Uncontracted,

Non-EstablishedDrillers

42Uncontracted, Established

Drillers

9Contracted, Established

Drillers

35%

8%

57%

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Jackup Supply

352 394 399 355

57 77 121 172

Feb. 2015 Feb. 2016 Feb. 2017 Feb. 2018< 35 years old >= 35 years old

45% CAGR

Source: IHS-ODS Petrodata as of February 2015; marketed competitive independent leg cantilever jackups

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Newbuild Floater Order Book

Source: IHS-ODS Petrodata as of February 2015; marketed competitive floaters

83 Total

37Uncontracted

46Contracted55% 45%

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Floater Supply

238 266 285 291

48 50

53 65

Feb. 2015 Feb. 2016 Feb. 2017 Feb. 2018< 35 years old >= 35 years old

7% CAGR

Source: IHS-ODS Petrodata as of February 2015; marketed competitive floaters

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Newbuild Deferrals and Cancellations

Atwood

• Delivery dates for 2 drillships with 2015 expected deliveries delayed by six months each

Transocean

• Delivery dates for 5 jackups with 2016 and 2017 expected deliveries delayed by ten months on average

Other

• Reports suggest up to 12 floaters under construction for SETE Brasil program may be cancelled

• 6 jackups ordered by non-established drillers were cancelled in 2H14

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Increase in Rig Retirements and Cold Stacking

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512

10

3

0

5

10

15

20

25

30

1Q14 2Q14 3Q14 4Q14 YTD15

Retired Cold Stacked

Floaters

Source: IHS-ODS Petrodata; includes announced retirements

21 11

14

67

0

2

4

6

8

10

12

1Q14 2Q14 3Q14 4Q14 YTD15

Retired Cold Stacked

Jackups

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Ensco’s Proactive Fleet Management

2Q14

• Moved five floaters to held for sale to proactively reduce expenses; one sold for scrap value

3Q14

• Sold four jackups for more than $200 million

4Q14

• Moved three rigs to held for sale and cold stacking rigs to quickly reduce operating expenses

YTD15

• Cold stacking four rigs in continuing operations

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Well Positioned toManage Through Downturn

• Fleet highgrading

– 7 newbuild rigs with differentiated designs under construction

– major upgrade investments expected to benefit 2015

– mooring capability to be added to select ENSCO 8500 Series rigs

– 7 held-for-sale rigs as of 4Q14; 19 rigs sold since beginning of 2010

– 2015 results to benefit from newbuilds and prior upgrades

• Expense management discipline

• Leading net income margins among major competitors

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Well Positioned toManage Through Downturn

• Capital management flexibility

• Global presence and diverse customer base

– operations across six continents

– extensive customer relationships: NOCs, Majors, IOCs

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Organic Growth:Newbuild Contracts/Deliveries

2012.75 2013.75 2014.75 2015.75 2016.75 2017.75 2018.75 2019.75

ENSCO DS-7

ENSCO 120

ENSCO 121

ENSCO 122

ENSCO DS-8

ENSCO DS-9

ENSCO 110

ENSCO DS-10

ENSCO 123

ENSCO 140

ENSCO 141

Drillships Premium jackups

2013 2016 20172014 2015 20202018 2019

5 yrs with Total5 yrs with Total

3 yrs with ConocoPhillips3 yrs with ConocoPhillips

2 yrs w/ Wintershall2 yrs w/ Wintershall

2 yrs with NAM2 yrs with NAM

2+ yrs with Nexen2+ yrs with Nexen

3 yrs with Total3 yrs with Total

Contracted

19

9 11

PREMIUMJACKUPS

ULTRA & DEEP WATER DRILLSHIPS

MOOREDSEMISUBMERSIBLES

DYNAMICALLY POSITIONED SEMISUBMERSIBLES

Note: Includes rigs under construction and excludes managed rigs and rigs in discontinued operations

High Quality Fleet

63 Rig Fleet

3 40

20

U.S. Gulf of Mexico

Ships 3

Semis 6

Jackups 7

Africa

Ships 3

Jackups 1

Europe & Mediterranean

Semi 1

Jackups 11

Middle East

Jackups 9

Asia Pacific

Semi 3

Jackups 8Brazil

Semis 4Under Construction

Ships 3

Jackups 4

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Global Platform

Held for Sale

Ships 1

Semis 4

Jackups 2

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Backlog Diversification

Drillships

40%

30% 30%

North & South

America

Africa

Brazil

27%

13%24%

15%

Europe &Med

AsiaPacific

11%

NationalOil

Companies

Majors

Independents

25% 29%

46%

MiddleEast 10%

PremiumJackupsSemis

Note: Contract revenue backlog as of 31 December 2014 plus drilling contracts signed and shortened through 23 February 2015

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Uptime = Net Inc. Margin = Customer Satisfaction

Source: Thomson One. Thomson One's data is based on aggregation of information collected from industry equity research analysts, and may not be based on GAAP reported financial data. For our reported net income and revenue, please see our Annual Report on Form 10-K filed on March 2, 2015.

ESV SDRL DO NE RIG RDC

30%28%

19% 18% 18%15%

Net Income Margin

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Rated #1• Total Satisfaction

• Health, Safety & Environment

• Technology

• Special Applications

• Deepwater Drilling

• Shelf Wells

• Non-Vertical Wells

• Harsh Environment Wells

• North Sea

• Latin America & Mexico

Industry Leader in Customer Satisfaction

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• Leading-edge safety management systems

• Major competitive advantage; especially versus non-established drillers

Safety, Health & Environment

0.0

0.2

0.4

0.6

0.8

1.0

1.2

2008 2009 2010 2011 2012 2013 2014

Ensco Industry

Total RecordableIncident Rate

Note: 2014 TRIR for Industry is as of 4Q14

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Capital Management and Financial Position

• Reduced quarterly dividend to $0.15 from $0.75

• Investment-grade credit ratings from Moody’s/S&P

• $9.7 billion of contracted revenue backlog

• 42% total debt-to-capital ratio

• $1.4 billion of cash and short-term investments

• $2.25 billion available revolving credit facility

Note: as of 31 December 2014

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Contracted Revenue Backlog

2015 2016 2017 2018+

$3.9

$2.8

$1.7 $1.3

$ billions

Note: Contract revenue backlog as of 31 December 2014 plus drilling contracts signed and shortened through 23 February 2015

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Capital Expenditures

2015 2016 2017

1.60

0.40

0.25

TBD

TBD

0.25

TBD

TBD

Newbuild construction Rig enhancements Sustaining

$ billions

Note: Final rig enhancement and sustaining project capital expenditure budgets for 2016 and 2017 TBD once budgets are completed. Zero capital expenditures for newbuild construction in 2017.

~$2.1B

<$1.0B

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$35

$1,020

$5 $5

$505

$905

$1,500

$625

$2,250

$0

$300

$600

$900

$1,200

$1,500

$1,800

$2,100

$2,400

$2,700

$3,000

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Debt Maturity Profile

2027 2040

$150$300

2044

$625

Note: As of 31 December 2014

Raised $1.25B in September 2014

Upsized RCF to $2.25B in September 2014$ millions

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• Leader in customer satisfaction – five consecutive years

• Highest net income margins among major competitors

• Best ever total recordable incident rate in 2014

• High-quality fleet of floaters and jackups

– 10 year average age for go-forward floater fleet

o 4 year average age for ultra-deepwater fleet

• Technology advantages, e.g. ENSCO 120 Series jackups and Samsung GF 12,000 drillships

• $9.7 billion of contracted revenue backlog

• Disciplined expense management

• Capital management flexibility

Ensco’s Strengths

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