Valaris Ltd — Director's Dealing 2021

May 10, 2021

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Valaris Ltd (VAL)
CIK: 0000314808
Period of Report: 2021-04-30

Reporting Person: OAK HILL ADVISORS LP (10% Owner)
Reporting Person: Oak Hill Advisors GenPar, L.P. (10% Owner)
Reporting Person: Oak Hill Advisors MGP, Inc. (10% Owner)
Reporting Person: AUGUST GLENN R (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares, $0.01 par value per share	8979806	Indirect

Footnotes

F1: Oak Hill Advisors, L.P. ("OHA") is an advisor to certain client accounts (directly or indirectly through an affiliate) which hold the securities reported herein. Oak Hill Advisors GenPar, L.P. is the general partner of OHA. Oak Hill Advisors MGP, Inc. is the managing general partner of Oak Hill Advisors GenPar, L.P. Mr. Glenn R. August controls OHA.

F2: Pursuant to Rule 16a-1 under the Exchange Act of 1934, as amended (the "Act"), the Reporting Persons may be deemed to be the indirect beneficial owners of the securities held by the OHA client accounts only to the extent of their respective pecuniary interest therein, if any. Pursuant to Rule 16a-1(a)(4) under the Act, this filing shall not be deemed an admission that the Reporting Persons are, for purposes of Section 16 of the Act or otherwise, the beneficial owners of any securities held by the OHA client accounts, in each case except to the extent of such pecuniary interest, if any.