VALARIS LTD

Ticker: VAL CUSIP: G9460G101 Class: Common Stock

Graham Capital Management, L.P.'s Holding History (CIK: 0001315421)

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

Q4 2025

Shares 5,078 Value ($000) $256 Avg Close $53.67 Range $46.70 - $61.70

Q3 2025

Shares 4,304 Value ($000) $210 Avg Close $48.77 Range $41.88 - $53.98

Q2 2025

Shares 41,342 Value ($000) $1,741 Avg Close $37.62 Range $27.15 - $47.36

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	5,078	$256	$53.67	$46.70 - $61.70
Q3 2025	4,304	$210	$48.77	$41.88 - $53.98
Q2 2025	41,342	$1,741	$37.62	$27.15 - $47.36