Company: NE-WTA
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001628280-25-015025
Chunk: 49

Company: Noble Corp plc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 49
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 or percentiles of the Benchmark Peer Group, but instead endeavors to be competitive within the Benchmark Peer Group with respect to the various components and the aggregate level of compensation of officers in comparable positions. The Compensation Committee believes that this approach gives the committee the flexibility to respond to individual circumstances and offer competitive compensation packages to our executives.

#### TSR Peer Group
We use the TSR Peer Group to measure our relative total shareholder return (“TSR”) performance for the vesting of performance-based long-term equity incentives. Our TSR Peer Group is comprised of global offshore drilling companies with whom we most directly compete for customers and investor capital as well as the PHLX Oil Service Sector Index. The three listed companies are also in our Benchmark Peer Group except for Seadrill, who is a key direct competitor whose executive compensation data is not publicly available for benchmarking purposes. The Compensation Committee believes that the TSR Peer Group is an appropriate benchmark against which to measure the Company’s stock price performance in the complex and cyclical offshore drilling industry. The Compensation Committee removed ChampionX Corporation, Helmerich & Payne, Inc., Oceaneering International Inc., TechnipFMC plc and Weatherford International plc from the TSR Peer Group for fiscal year 2024 as part of its efforts to refine the group to consist of those companies we consider to be our primary direct competitors and added the PHLX Oil Service Sector Index to provide an appropriate balance given our limited number of

#### 362025 Proxy Statement |Noble Corporation plc

#### Compensation Discussion and Analysis
publicly traded primary direct competitors. The Compensation Committee will continue to review and assess the composition of the TSR Peer Group for future performance-based awards.

| 2024 TSR Peer Group                                                                                  
 The following were used as the peer group for relative TSR calculations under our 2024 PVRSU awards: |     |                               |
| Seadrill Limited                                                                                     |     | Valaris plc                   |
| Transocean Ltd.                                                                                      |     | PHLX Oil Service Sector Index |
| Diamond Offshore Drilling, Inc.*                                                                     |     |                               |
| * Will be excluded from calculation due to our acquisition of the company in 2024.                   |     |                               |

#### How Compensation Components are Determined
Our Compensation Committee seeks to provide total compensation opportunities that are competitive with energy and general industry companies of roughly comparable size and are generally targeted at the middle range of the competitive market. Individual NEO compensation pay is determined based on a combination of factors, including:

#### •

#### our compensation philosophy;