Borr Drilling Limited - Mandatory notification of trades

Reference is made to Borr Drilling Limited's ("Borr Drilling") (NYSE, OSE: “BORR”) stock exchange announcements of December 28, 2021, relating to the pricing of the equity offering through the subscription and allocation of a total of 13,333,333 in new depository receipts (the "Offer Shares"), representing the beneficial interests in the same number of the Company’s underlying common shares, each at a subscription price of USD 2.25 per Offer Share (equivalent to NOK 19.97 per Offer Share), raising gross proceeds of USD 30 million. The Offer Shares will be listed on Oslo Stock Exchange.

The following persons discharging managerial responsibilities (“PDMRs”) in Borr Drilling have subscribed for and been conditionally allocated the following Offer Shares at the Subscription Price:

Companies affiliated with Director and Vice Chairman Tor Olav Trøim: 1,333,333 Offer Shares. After delivery, Trøim and his affiliated parties will represent an ownership in Borr Drilling of 10,124,934 shares in the Company.

Patrick Schorn, Chief Executive Officer of Borr Drilling: 200,000 Offer Shares. After delivery, Mr. Schorn will own 1,000,000 shares in the Company. 

Magnus Vaaler, Chief Financial Officer of Borr Drilling: 10,000 Offer Shares. After delivery, Mr. Vaaler will own 65,000 shares in the Company. 

December 28, 2021

Hamilton, Bermuda

This information is subject to disclosure requirements pursuant to Sections 4-2 and 5-12 of the Norwegian Securities Trading Act and article 19 of the Regulation EU 596/2014 (Market Abuse Regulation).