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Borr Drilling Limited – Fleet Status Report

Borr Drilling Limited (the “Company”) (NYSE: “BORR”, OSE: “BDRILL”) is pleased to announce in its fleet status report today that it has entered into a new contract and LOIs for three of its currently warm stacked rigs, adding USD 21 million to the total backlog, with good prospects for additional backlog on these units. The recent awards will bring the total number of committed and contracted rigs up to 14. The tender activity in the jack-up market troughed in March / April this year caused by the negative development in the oil price. There are now clear signs of increased activity levels, supported by an oil price of around USD 40/bbl.

Borr has currently three additional warm stacked rigs which can be brought into operation without significant activation capex.

The updated Fleet Status Report can be found on the Company’s website and attached to this release.

August 3, 2020

Hamilton, Bermuda

Fleet Status Report – August 2020

Registered office

Borr Drilling Limited

S.E. Pearman Building, 2nd Fl,
9 Par-la-Ville Road,
Hamilton HM11,
Bermuda

London office

Borr Drilling Management (UK) Ltd.
70 Victoria Street
6th Floor, The Zig Zag Building
London SW1E 6SQ
United Kingdom

Aberdeen office

Regional office

Pavilion 4
Westpoint Business Park
Prospect Road, Westhill
Aberdeen AB32 6FE
United Kingdom

+44 (0) 1224 289200

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