Borr Drilling Limited - Contracting Updates

06 Jan 2026 08:59 CET

Hamilton, Bermuda, January 6, 2026 - Borr Drilling Limited (NYSE and Euronext
Growth Oslo: "BORR") (the "Company") is pleased to announce new contract
commitments for two of its premium jack-up rigs.

In the Americas, the Ran has received a one-well extension with ENI in Mexico.
The well has an anticipated duration of 75 days, keeping the rig on firm
contract through March 2026. The remaining options under the contract allow for
240 days of extension beyond the end of the new committed term.

Additionally, the Odin has secured a contract for two wells plus an optional
well with an undisclosed operator in the United States of America. The campaign
is expected to commence mid-2026, with an estimated duration of 60 days per
well.

As a result of the Odin's new firm commitment, an option mechanism in the rig's
previously announced contract for work in the Gulf of America has been activated
that provides the customer Cantium with six months of optional period commencing
in January 2027.

Forward-Looking Statements

This press release and related discussions include forward-looking statements
made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements do not reflect
historical facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will", "likely",
"aim", "plan", "guidance" and similar expressions and include statements
regarding new contract commitments, including the commencement and duration
thereof, and other non-historical statements. Such forward-looking statements
are subject to risks, uncertainties, contingencies and other factors that could
cause actual events to differ materially from the expectations expressed or
implied by the forward-looking statements included herein, including risks
related to new contract commitments described herein, the commencement and
duration of such contracts, the potential revenues from such contracts, the
performance of our rigs under such contracts, whether contractual options are
exercised and the commencement and duration thereof, and other risks and
uncertainties, including those described in our annual report on Form 20-F for
the year ended December 31, 2024 and our other filings with and submissions to
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

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