Anton Dibowitz

President and Chief Executive Officer at Valaris

Board

Since December 2021

Age

53 years

Education

Holds a Bachelor's degree in Business Administration and Master's degrees in Professional Accounting (MPA) and Business Administration (MBA) from the University of Texas at Austin and is a Certified Public Accountant.

Tenure

Joined the board in July 2021, served as interim CEO starting in September 2021, and was appointed permanent President and CEO in December 2021.

Also at Valaris

Christopher Weber

Senior Vice President and Chief Financial Officer (CFO)

Darin Gibbins

Vice President – Investor Relations and Treasurer

Davor Vukadin

Senior Vice President, General Counsel, and Secretary

About

Anton Dibowitz, aged 53 as of February 20, 2025, is an experienced executive with over 20 years of expertise in the drilling industry. Beginning his career in roles related to tax, process reengineering, and marketing at companies such as Transocean Ltd. and Ernst & Young LLP, he developed a strong foundation in business management and financial oversight.

Before joining Valaris Limited, he held several key positions at Seadrill Ltd., including Chief Commercial Officer, Executive Vice President, and ultimately serving as CEO during a challenging period that included a bankruptcy filing in September 2017. His progression through these roles demonstrates a consistent record of leadership and strategic acumen in a complex industry.

At Valaris, after joining the Board of Directors in July 2021 and serving as interim CEO from September 2021, he was appointed as the permanent President and CEO in December 2021. His tenure at the company has been marked by the application of his extensive managerial experience and industry knowledge to drive strategic initiatives and operational improvements.

$VAL Performance Under Anton Dibowitz

Past Roles

Organization	Role	Date Range	Details
Valaris Limited (VAL)	Interim President and Chief Executive Officer	Sep 2021 - Dec 2021	Served as interim CEO before being appointed permanently
Valaris Limited (VAL)	Board of Directors	Joined in July 2021	Served on the Board prior to his permanent CEO appointment
Seadrill Ltd.	Advisor	Nov 2020 - Mar 2021	Served as an advisor following his tenure as CEO
Seadrill Ltd.	Chief Executive Officer	Jul 2017 - Oct 2020	Notable event: Filing for bankruptcy in Sep 2017
Seadrill Ltd.	Executive Vice President of Seadrill Management	Jun 2016 - Jul 2017	N/A
Seadrill Ltd.	Chief Commercial Officer	Jan 2013 - Jun 2016	N/A
Transocean Ltd.	Various roles in tax, process reengineering, and marketing	N/A	Held multiple positions
Ernst & Young LLP	Tax-related roles	N/A	Worked in tax functions

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$950,000	Annual (as of Dec 31, 2023)	Fixed annual salary
Defined Contribution Savings Plan	$16,500	Per plan contributions during 2023	Company matching contributions under Valaris Savings Plan
Group Term Life Insurance	$1,890	Annual premium payment in 2023	Company-paid group term life coverage

Performance Compensation

Data from FY 2023

Non-Equity Incentive Plan Compensation

Metric	Value
Target Opportunity	$1,092,500
Final Payout	$1,005,100
Payout Threshold	50% payout
Payout Target	100% payout
Payout Maximum	200% payout
Evaluation Metrics	Safety (Personal & Process), Spill Prevention, Downtime, EBITDA, Operating Free Cash Flow, Strategic Team Goals
Vesting Schedule	No vesting; annual performance-based payout

Share Price PSUs

Metric	Value
Threshold Hurdle	$45 closing price for 90 consecutive trading days (50% target units earned)
Target Hurdle	$55 closing price for 90 consecutive trading days (100% target units earned)
Maximum Hurdle	$75 closing price for 90 consecutive trading days (uneared as of 2023)
Grant Date	December 8, 2021
Grant Date Fair Value	$14.07 per unit
Grant Date Stock Price	$32.01
Earned Units (2023)	170,433 units
Market Value	$11,686,591
Vesting	Three-year service period until June 30, 2024
Remaining Unearned Units	170,433 units

Year 2 Strategic PSUs

Metric	Value
Performance Period	July 1, 2022 - June 30, 2023
Achievement	102%
Target Units	16,232 units
Earned Units	16,557 units
Grant Date	July 19, 2022
Grant Date Fair Value	$42.66 per unit
Vesting	Time-based vesting until June 30, 2024

Year 3 Strategic PSU Goals

Metric	Value
Threshold	8,116 units
Target	16,232 units
Maximum	24,348 units
Grant Date	July 18, 2023
Grant Date Fair Value	$1,162,698
Grant Date Stock Price	$71.63 per share
Vesting	Vest after June 30, 2024
Performance Metrics	Operational & safety compliance, strategic milestones, backlog growth, corporate development opportunities, capital structure optimization
Payout Range	0% to 150% of target PSUs