Exor group discloses 3.48% Valaris (VAL) stake via Lingotto unit

Rhea-AI Filing Summary

Valaris Limited received an updated ownership report from a group led by Giovanni Agnelli B.V., Exor N.V., Lingotto Investment Management (UK) Limited and Lingotto Investment Management LLP. Lingotto Investment Management LLP acquired the common shares and is 99.7% owned by Lingotto Investment Management (UK) Limited, which is wholly owned by Exor N.V., itself controlled by Giovanni Agnelli B.V.

The group reports beneficial ownership of 2,411,493 Valaris common shares, representing 3.48% of the class, with sole voting and dispositive power over all reported shares and no shared power. The percentage is based on 69,251,773 common shares outstanding. The filing confirms ownership of five percent or less of Valaris’s common shares.

Key Figures

Shares beneficially owned: 2,411,493 shares Percent of class owned: 3.48% Shares outstanding: 69,251,773 shares +1 more

4 metrics

Shares beneficially owned 2,411,493 shares Valaris common shares beneficially owned by the reporting group

Percent of class owned 3.48% Percentage of Valaris common shares outstanding held by reporting persons

Shares outstanding 69,251,773 shares Valaris common shares outstanding referenced for percentage calculation

Ownership of LLP by UK entity 99.7% Lingotto Investment Management LLP ownership by Lingotto Investment Management (UK) Limited

Key Terms

beneficially owned, sole voting power, sole dispositive power, parent holding company, +1 more

5 terms

beneficially owned financial

"Amount beneficially owned: See the responses to Item 9 on the attached cover pages."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"5 | Sole Voting Power 2,411,493.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"7 | Sole Dispositive Power 2,411,493.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

parent holding company financial

"If a parent holding company has filed this schedule, pursuant to (ii)(G)"

Amendment No. 1 regulatory

"This Amendment No. 1 to is being filed by Lingotto Investment Management LLP"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What stake in Valaris Limited (VAL) is reported in this Schedule 13G/A?

The reporting group discloses beneficial ownership of 2,411,493 Valaris common shares, representing 3.48% of the outstanding class, with sole voting and dispositive power over all reported shares.

Who are the reporting persons in the Valaris (VAL) Schedule 13G/A amendment?

The filing lists Giovanni Agnelli B.V., Exor N.V., Lingotto Investment Management (UK) Limited and Lingotto Investment Management LLP, with Lingotto Investment Management LLP as the entity that acquired the securities.

How is Lingotto Investment Management LLP related to Exor N.V. in the Valaris (VAL) filing?

Lingotto Investment Management LLP is 99.7% owned by Lingotto Investment Management (UK) Limited, which is a wholly owned subsidiary of Exor N.V., itself controlled by Giovanni Agnelli B.V..

Does the Exor group own more than 5% of Valaris (VAL) common shares?

No. The filing states beneficial ownership of 3.48% of Valaris’s common shares and indicates ownership of five percent or less of the class, based on 69,251,773 shares outstanding.

What voting and dispositive powers are reported over Valaris (VAL) shares?

The reporting persons indicate sole voting power and sole dispositive power over all 2,411,493 Valaris common shares reported, with no shared voting or dispositive power disclosed.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Valaris Limited

(Name of Issuer)

Common Shares, $0.01 par value share

(Title of Class of Securities)

G9460G101

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G9460G101

1

Names of Reporting Persons

Giovanni Agnelli B.V.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NETHERLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,411,493.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,411,493.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,411,493.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.48 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP Number(s): G9460G101

1

Names of Reporting Persons

Exor N.V.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NETHERLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,411,493.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,411,493.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,411,493.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.48 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP Number(s): G9460G101

1

Names of Reporting Persons

Lingotto Investment Management (UK) Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,411,493.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,411,493.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,411,493.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.48 %

12

Type of Reporting Person (See Instructions)

CO, FI

SCHEDULE 13G

CUSIP Number(s): G9460G101

1

Names of Reporting Persons

Lingotto Investment Management LLP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,411,493.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,411,493.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,411,493.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.48 %

12

Type of Reporting Person (See Instructions)

PN, FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Valaris Limited
(b)	Address of issuer's principal executive offices: Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda
Item 2.
(a)	Name of person filing: Giovanni Agnelli B.V. Exor N.V. Lingotto Investment Management (UK) Limited Lingotto Investment Management LLP Lingotto Investment Management LLP, which acquired the securities being reported on, is 99.7% owned by Lingotto Investment Management (UK) Limited. Lingotto Investment Management (UK) Limited is a wholly owned subsidiary of Exor N.V., which in turn is controlled by Giovanni Agnelli B.V.
(b)	Address or principal business office or, if none, residence: Giovanni Agnelli B.V. Symphony Building Gustav Mahlerplein 25 Amsterdam, 1082 MS The Netherlands Exor N.V. Symphony Building Gustav Mahlerplein 25 Amsterdam, 1082 MS The Netherlands Lingotto Investment Management (UK) Limited 7 Seymour Street London, W1H 7JW United Kingdom Lingotto Investment Management LLP 7 Seymour Street London, W1H 7JW United Kingdom
(c)	Citizenship: Giovanni Agnelli B.V. - the Netherlands Exor N.V. - the Netherlands Lingotto Investment Management (UK) Limited- United Kingdom Lingotto Investment Management LLP - United Kingdom
(d)	Title of class of securities: Common Shares, $0.01 par value share
(e)	CUSIP No.: G9460G101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the responses to Item 9 on the attached cover pages.
(b)	Percent of class: See the responses to Item 11 on the attached cover pages.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the responses to Item 5 on the attached cover pages.
	(ii) Shared power to vote or to direct the vote: See the responses to Item 6 on the attached cover pages.
	(iii) Sole power to dispose or to direct the disposition of: See the responses to Item 7 on the attached cover pages.
	(iv) Shared power to dispose or to direct the disposition of: See the responses to Item 8 on the attached cover pages.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Item 2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Giovanni Agnelli B.V.

Signature:	/s/ Guido de Boer
Name/Title:	Guido de Boer | Authorized Signatory
Date:	08/10/2026

Exor N.V.

Signature:	/s/ Guido de Boer
Name/Title:	Guido de Boer | Chief Financial Officer
Date:	08/10/2026

Lingotto Investment Management (UK) Limited

Signature:	/s/ Enrico Vellano
Name/Title:	Enrico Vellano | CEO
Date:	08/10/2026

Lingotto Investment Management LLP

Signature:	/s/ Enrico Vellano
Name/Title:	Enrico Vellano | CEO
Date:	08/10/2026

Exhibit Information

This Amendment No. 1 to Schedule 13G is being filed by Lingotto Investment Management LLP as an amendment to the Schedule 13G previously filed by Exor N.V. (CIK: 0001589122) on January 13, 2025 pursuant to the Joint Filing Agreement filed as Exhibit 99.1 thereto. Percent of class based on 69,251,773 common shares outstanding, as reported in the Issuer's Form 8-K filed with the Securities and Exchange Commission on 10 June 2026.