Borr Drilling Limited - Approval of listing prospectus

18 Apr 2023 16:32 CEST

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG, UNITED STATES OR ANY OTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER FOR ANY SECURITIES
DESCRIBED HEREIN.

Hamilton, Bermuda, 18 April 2023:

Reference is made to Borr Drilling Limited's (the "Company") (NYSE and OSE:
BORR) announcements on 1 February and 24 February 2023, in which the issuance of
25 million new shares to be used in a share lending program established to
support the Company's USD 250 million convertible bonds (the "Convertible
Bonds") was announced.

The Company has now prepared a listing prospectus (the "Prospectus") for the
listing of the new shares on the Oslo Stock Exchange. This has been approved by
the Norwegian Financial Supervisory Authority (Nw. Finanstilsynet) today, 18
April 2023, and has, consequentially, been published on the Company's website at
https://borrdrilling.com/investor-relations/.

As a result of the Prospectus having been approved and published, the new shares
have been given the same ISIN as the rest of the Company's shares
(BMG1466R1732). The new shares are expected to be tradable on Oslo Stock
Exchange on 19 April 2023.

The new shares are held in treasury and will be made available to DNB Markets
for onwards lending in accordance with the share lending program.

Upon re-delivery of the shares to the Company by the borrower, the shares will
be cancelled.

For further information please refer to the Company's announcements of 24 and 26
January and 1 and 24 February 2023.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Important note: This announcement is not being made in or into the United States
of America, Canada, Australia, Japan, Hong Kong or in any other jurisdiction
where it would be prohibited by applicable law. This distribution does not
constitute or form part of an offer or solicitation of an offer to purchase or
subscribe for securities in the United States. The shares referred to herein
have not been and will not be registered under the United States Securities Act
of 1933, and may not be offered or sold in the United States or to U.S. persons
(other than distributors) unless the securities are registered under the Act, or
an exemption from the registration requirements of the Act is available.

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

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