BORR DRILLING LIMITED ENTERS INTO LETTER OF INTENT FOR THE SALE OF THREE JACK-UPS
Hamilton, Bermuda, June 27, 2022: Borr Drilling Limited (the “Company”) (NYSE and OSE: “BORR”) has signed a binding letter of intent with an undisclosed third party for the sale of 3 high-specification units under construction with Keppel FELS shipyard – namely "Tivar", "Huldra" and "Heidrun" (the “Transaction Rigs”). The sale transaction is subject to customary closing conditions and procedures and is expected conclude within 30 days. The Transaction Rigs are expected to be employed by the prospective owner in a captive market and represent limited competition to Borr Drilling’s fleet.