Pay vs Performance Disclosure, Table


					Value of Initial Fixed $100 Investment Based On:
Year	Summary Compensation Table Total for CEO(1)($)	Compensation Actually Paid to CEO ($)(2)	Average Summary Compensation Table Total for Non-CEO NEOs(3)($)	Average Compensation Actually Paid to Non-CEO NEOs(4)($)	Total Shareholder Return(5)($)	Peer Group Total Shareholder Return (6)($)	Net Income ($M)	Company Selected Measure: Normalized Cash Generation (7) ($M)
2025	11,885,455	9,102,582	3,183,146	2,627,364	130.72	109.24	217	403
2024	12,036,504	4,090,517	2,752,954	1,251,463	135.06	108.16	448	232
2023	9,647,383	34,874,444	2,361,871	6,063,404	197.37	125.00	482	164
2022	7,436,048	33,884,450	2,041,762	7,066,846	152.36	124.90	169	13
2021	25,270,516	38,099,613	5,033,297	7,386,178	100.24	78.5	352	(127)

Company Selected Measure Name

(7)Normalized Cash Generation

Named Executive Officers, Footnote

The dollar amounts reported in this column are the amounts reported for our CEO for each of the corresponding years in the “Total” column of our Summary Compensation Table. The dollar amounts reported in this column represent the average of the amounts reported for the Company’s NEOs as a group (excluding Mr. Eifler) in the “Total” column of the Summary Compensation Table in each applicable year. The NEOs for each applicable year are as follows:

• 2025: Richard B. Barker, Joey M. Kawaja, Jennie P. Howard and Caroline M. Alting

• 2024: Richard B. Barker, Joey M. Kawaja, Blake A. Denton and Jennie P. Howard

• 2023: Richard B. Barker, Joey M. Kawaja, Blake A. Denton and Caroline M. Alting

• 2022: Richard B. Barker, William E. Turcotte, Joey M. Kawaja and Blake A. Denton

• 2021: Richard B. Barker, William E. Turcotte, Joey M. Kawaja and Blake A. Denton

Peer Group Issuers, Footnote

The peer group used for this purpose is the OSX index.

PEO Total Compensation Amount

$ 11,885,455

$ 12,036,504

$ 9,647,383

$ 7,436,048

$ 25,270,516

PEO Actually Paid Compensation Amount

$ 9,102,582

4,090,517

34,874,444

33,884,450

38,099,613

Adjustment To PEO Compensation, Footnote


Compensation Actually Paid to CEO
	2025
Total Compensation for CEO as reported in SCT for the year	$	11,885,455
Deduct pension values reported in SCT for the covered year	—
Deduct grant date fair value of equity awards reported in SCT for the year	(8,750,626)
Add pension value attributable to current year’s service and any change in pension value attributable to plan amendments made in the year	—
Add fair values as of the end of the year of all equity awards granted during the year that are outstanding and unvested as of the end of the year	7,839,241
Add fair value as of the vesting date of any awards granted in the year that vested during the year	—
Add dividends paid on unvested shares/share units and stock options	—
Add the change in fair value (whether positive or negative) as of the end of the year of any equity awards granted in any prior year that are outstanding and unvested as of the year	(2,060,825)
Add the change in fair value (whether positive or negative) as of the vesting date of any equity awards granted in any prior year for which all applicable vesting conditions were satisfied during the year	189,337
Subtract the fair value of any equity awards granted in a prior year that were forfeited in the year determined as of the end of the prior year	—
Compensation Actually Paid	$	9,102,582

Non-PEO NEO Average Total Compensation Amount

$ 3,183,146

2,752,954

2,361,871

2,041,762

5,033,297

Non-PEO NEO Average Compensation Actually Paid Amount

$ 2,627,364

1,251,463

6,063,404

7,066,846

7,386,178

Adjustment to Non-PEO NEO Compensation Footnote


Average Compensation Actually Paid to Other NEOs
	2025
Total Compensation for Other NEOs as reported in SCT for the year	$	3,183,146
Deduct average pension values reported in SCT for the year	(5,847)
Deduct average grant date fair value of equity awards reported in SCT for the year	(1,979,531)
Add average pension value attributable to current year’s service and any change in pension value attributable to plan amendments made in the year	—
Add average fair values as of the end of the year of all equity awards granted during the year that are outstanding and unvested as of the end of the year	1,787,690
Add average fair value as of the vesting date of any awards granted in the year that vested during the year	—
Add average dividends paid on unvested shares/share units and stock options	—
Add the average change in fair value (whether positive or negative) as of the end of the year of any equity awards granted in any prior year that are outstanding and unvested as of the end of the year	(387,049)
Add the average change in fair value (whether positive or negative) as of the vesting date of any equity awards granted in any prior year for which all applicable vesting conditions were satisfied during the year	28,956
Subtract the average fair value of any equity awards granted in a prior year that were forfeited in the year determined as of the end of the prior year	—
Average Compensation Actually Paid to Other NEOs	$	2,627,364

Compensation Actually Paid vs. Total Shareholder Return

The charts below reflect the CAP to our CEO and other NEOs over the five-year period ended December 31, 2025 compared to our TSR, the TSR of our peer group, net income (loss) and Normalized Cash Generation, respectively.



CAP vs Total Shareholder Return

CEO CAP

Avg. NEO CAP

—

Noble TSR

—

OSX Index TSR

Compensation Actually Paid vs. Net Income



CAP vs Net Income

CEO CAP

Avg. NEO CAP

—

Net Income

Compensation Actually Paid vs. Company Selected Measure



CAP vs Normalized Cash Generation

CEO CAP

Avg. NEO CAP

—

Normalized Cash Generation

Total Shareholder Return Vs Peer Group



CAP vs Total Shareholder Return

CEO CAP

Avg. NEO CAP

—

Noble TSR

—

OSX Index TSR

Tabular List, Table


Normalized Cash Generation Return on Invested Capital Absolute TSR Relative TSR

Total Shareholder Return Amount

$ 130.72

135.06

197.37

152.36

100.24

Peer Group Total Shareholder Return Amount

109.24

108.16

125.00

124.90

78.5

Net Income (Loss)

$ 217,000,000

$ 448,000,000

$ 482,000,000

$ 169,000,000

$ 352,000,000

Company Selected Measure Amount

403,000,000

232,000,000

164,000,000

13,000,000

(127,000,000)

Additional 402(v) Disclosure

The dollar amounts reported in this column represent the amount of “compensation actually paid” to our CEO, as calculated in accordance with Item 402(v) of Regulation S-K and do not reflect the total compensation actually realized or received by the CEO. In accordance with these rules, these amounts reflect “Total Compensation” as set forth in the Summary Compensation Table, adjusted as shown below for 2025. Equity values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.The dollar amounts reported in this column represent the amount of “compensation actually paid” to our NEOs, as calculated in accordance with Item 402(v) of Regulation S-K and do not reflect the total compensation actually realized or received by the NEOs. In accordance with these rules, these amounts reflect “Total Compensation” as set forth in the Summary Compensation Table, adjusted as shown below for 2025. Equity values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.TSR is determined by dividing (a) the sum of (i) the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and (ii) the difference between the Company’s share price at the end of each fiscal year shown and June 9, 2021, the date of our relisting on the NYSE following our emergence from bankruptcy by (b) the Company’s share price on June 9, 2021.

Measure:: 1

Non-GAAP Measure Description

Normalized Cash Generation

Normalized Cash Generation is defined as adjusted EBITDA minus capital expenditures, net interest expense, cash taxes, cost to achieve synergies, adjusted for any non-recurring items. We replaced the Adjusted Free Cash Flow metric in our STIP with Normalized Cash Generation, beginning in 2025. As such, we have changed our company selected measure to Normalized Cash Generation, as it was the most important performance measure used to link compensation actually paid to our NEOs to Company performance in 2025.

Measure:: 2

Return on Invested Capital

Measure:: 3

Absolute TSR

Measure:: 4

PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table

Relative TSR

PEO | Pension Adjustments Service Cost

$ 0

PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

(8,750,626)

PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

7,839,241

PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

(2,060,825)

PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

189,337

PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year

Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table

Non-PEO NEO | Pension Adjustments Service Cost

(5,847)

Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

(1,979,531)

Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

1,787,690

Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

(387,049)

Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

28,956

Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year