Title of each class of securities to which the transaction contemplated by the Business Combination Agreement, dated as of February 9, 2026, between Valaris Limited and Transaction Ltd., applies: Valaris Limited common shares, par value $0.01 per share.
(2)
Equals the Maximum Aggregate Value of Transaction as described in the Joint Proxy Statement on Schedule 14A, file number 001-38373 and file number 001-08097, filed by Transocean Ltd. and Valaris Limited with the Securities and Exchange Commission on May 19, 2026.
(3)
Offset pursuant to Rule 0-11 of the Securities Exchange Act of 1934, as amended.