Borr Drilling Limited – Announcement of contract extension

Borr Drilling Limited (NYSE and OSE: “BORR”) is pleased to announce it has secured a contract extension for its premium jack-up drilling rig “Mist” from Valeura Energy in Thailand. The contract extension covers a firm term of 9 months starting in direct continuation to the current contract and will maintain the rig contracted through August 2024.  The estimated total contract value of this extension is $41 million, excluding unpriced options.

Hamilton, Bermuda

23 June 2023

Forward looking statements

This press release includes forward looking statements, which do not reflect historical facts and may be identified by words such as “will”, “estimate” and similar expressions and include statements relating to rig contracting including the duration and value of such contracts and backlog, and other non-historical statements. Such forward looking statements are subject to risks, uncertainties, contingencies and other factors could cause actual events to differ materially from the expectations expressed or implied by the forward-looking statements included herein, including risks related to actual performance under drilling contracts, the risk that backlog may not be realized, the number of rigs that will be in operation and rates that are achieved, and other risks and uncertainties described in the section entitled “Risk Factors” in our most recent annual report on Form 20-F and other filings with the Securities and Exchange Commission. Such risks, uncertainties, contingencies and other factors could cause actual events to differ materially from the expectations expressed or implied by the forward -looking statements included herein. These forward-looking statements are made only as of the date of this release. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208