Borr Drilling Limited - Mandatory notification of trade and significant holding

24 Feb 2023 10:15 CET

Drew Holdings Ltd. ("Drew") had on 25 January 2023 entered into a share lending
agreement ("SLA") with Borr Drilling Limited (the "Company") (NYSE and
OSE:"BORR") and DNB Markets, a part of DNB Bank ASA ("DNB"), for the purpose of
facilitating investors' hedging activities in connection with the Company's
Convertible Bond issue announced on 24 January 2023. Please refer to the stock
exchange notice published by the Company on 24 January 2023 and from Drew on 30
January 2023 for further details of the SLA.

In accordance with the SLA, the Company has now delivered shares to Drew to
compensate Drew for its lending, in the Company's interest, of an equal number
of shares to DNB. Following the Company's delivery of shares to Drew, Drew again
holds 15,792,857 shares, representing approximately 6.2 % and consequently more
than 5 % of the shares and votes of the Company.

Drew is represented on the Board of Directors of the Company by Mr. Tor Olav
Trøim, being Chairman and Director, defined by the Market Abuse Regulation as a
person discharging managerial responsibilities ("PDMR").

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

More information:
Access the news on Oslo Bors NewsWeb site

583487_PDMR_Notice_Drew_Holdings_redelivery_under_the_SLA.pdf