Noble : Notice of Redemption

NOTICE OF REDEMPTION

NOBLE NEW ASSET CO LIMITED ("ISSUER")

14 July 2023
US$43,043,814 Tranche A2 Senior Secured PIK	Regulation S ISIN: XS1912616585
Notes due 2024	Rule 144A ISIN: XS1912616668
(the "Notes")	IAI: XS1912617120

NOTICE IS HEREBY GIVEN in accordance with Condition 8.3 (Redemption at the Option of the Issuer) of Schedule 3 of the trust deed dated 20 December 2018 between the Issuer, the guarantors thereto, DB Trustees (Hong Kong) Limited as trustee (the "Trustee") for holders of the Notes and Madison Pacific Trust Limited as security trustee (the "Security Trustee"), as supplemented by the first supplemental trust deed dated 5 May 2020 between the Issuer, the Trustee and the Security Trustee, as further supplemented by the second supplemental trust deed dated 17 June 2022 between the Issuer and the Trustee, as further supplemented by a third supplemental trust deed dated 13 April 2023 and as further modified and/or supplemented and/or amended from time to time, (the "Notes Trust Deed") governing the obligations of the Notes, to the holders of the Notes that in accordance with Condition 8.3 (Redemption at the Option of the Issuer) of Schedule 3 of the Notes Trust Deed, the Issuer has exercised its right to redeem, and does hereby call for redemption and will redeem on 24 July 2023 (the "Redemption Date"), all the remaining Notes at a redemption price of 100% of the principal amount of such Notes, plus accrued and unpaid interest thereon, to the Redemption Date.

The terms and conditions of the redemption are as follows:

1. The redemption payments will be made on the same day as the Redemption Date.
2. The redemption price of the Notes is 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest from 20 June 2023, up to the Redemption Date (the "Redemption Price"). The Redemption Price comprises US$43,043,814 in principal amount and US$406,525 of accrued and unpaid interest and will become due and payable upon each Note to be redeemed.
3. Unless the Issuer defaults in making the redemption payment, the Notes will become due and payable on the Redemption Date and interest and additional amounts, if any, on the Notes will cease to accrue on and after the Redemption Date, and the only right of the holders of the Notes is to receive payment of the Redemption Price, upon surrender to the Trustee of the Notes to be redeemed.
4. The ISIN numbers in relation to the Notes being redeemed are as set forth above. No representation is made as to, and the Issuer, the Trustee and the Security Trustee are not responsible for, the correctness or accuracy of such numbers listed in this Notice of Redemption or printed on the Notes.

All capitalized terms used and not otherwise defined in this Notice of Redemption have the meaning given to them in the Notes Trust Deed.

This Notice is given by:

NOBLE NEW ASSET CO LIMITED, the Issuer.

Enquiries about the above notice should be directed to the Issuer as setout below:

NOBLE NEW ASSET CO LIMITED

Commerce House

Wickhams Cay 1

P.O. Box 3140

Road Town, Tortola

British Virgin Islands

VG1110