Borr Drilling Limited – Announcement of Letter of Award for jack-up drilling rig

Borr Drilling Limited (NYSE and OSE: “BORR”) is pleased to announce it has secured a Letter of Award (“LOA”) for the premium jack-up drilling rig “Gunnlod” from an undisclosed operator in Malaysia. The program is expected to commence in Q4 2021 in direct continuation of the rig's current contract with an approximate duration of 105 days. This LOA, which is expected to be converted into a contract shortly, will maintain the rig contracted over the monsoon season in South East Asia and into Q1 2022, when additional employment opportunities should be available for the rig.

Hamilton, Bermuda

11 August 2021

Forward looking statements: 

This press release includes forward looking statements, which do not reflect historical facts and may be identified by words such as “expected”, “will”, “should” and similar expressions and include statements relating to the commencement of contracts of rigs, expected backlog and other non-historical matters. Such forward-looking statements are subject to risks, uncertainties and other factors could cause actual events to differ materially from the expectations expressed or implied by the forward-looking statements included herein and other factors described in the section entitled “Risk Factors” in our prospectuses and filings with the Securities and Exchange Commission. 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.