VALARIS PLC

Ticker: VALPQ CUSIP: G9402V109 Class: SHS CLASS A

Ruffer LLP's Holding History (CIK: 0001426859)

Note: Option positions (PUT/CALL) are excluded.

Q1 2020

Shares 176,868 Value ($000) $80 Avg Close — Range —

Q4 2019

Shares 9,812,973 Value ($000) $64,303 Avg Close — Range —

Q3 2019

Shares 7,796,630 Value ($000) $37,383 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	176,868	$80	—	—
Q4 2019	9,812,973	$64,303	—	—
Q3 2019	7,796,630	$37,383	—	—