Borr Drilling Limited - Operational and Contracting Updates

13 Apr 2026 08:00 CEST

Hamilton, Bermuda, April 13, 2026 - Borr Drilling Limited (NYSE and Euronext
Growth Oslo: BORR) ("Borr Drilling" or the "Company") today provided operational
updates on its fleet, including developments related to the ongoing situation in
the Middle East, and announced a new contract commitment.

With reference to the Company's update on March 9, 2026 about its four rigs
deployed in the Middle East, the Arabia III resumed operations offshore Saudi
Arabia in late March 2026. Additionally, the Company has received resumptions
notices for the Groa in Qatar and the Arabia II in the UAE and expects these
rigs to recommence operations during April 2026. The Company's fourth rig in the
region, the Forseti, which is operated by a third party under a bareboat
charter, is also undergoing preparations to resume operations in Qatar.

In the Gulf of America, the Odin, which originally was to start operating
earlier in the year, experienced delays due to additional maintenance work
required in advance of commencing its contract with Cantium. The rig is now
expected to commence operations in April 2026.

In Southeast Asia, the Skald has received a binding letter of award from an
undisclosed operator. The campaign is expected to commence in the second quarter
of 2026 and has an estimated duration of six months.

Reflecting these updates and other developments across the fleet since the
Company's preceding earnings report on February 18, 2026, our contract coverage
for full-year 2026 is 70% at an average dayrate of approximately $134,000, while
the coverage for the first and second half of 2026 stands at 78% and 62%,
respectively.

Borr Drilling CEO Bruno Morand said, "I would like to thank our onshore and
offshore teams for their efforts in safely and effectively managing the
disruptions experienced due to the geopolitical events in the Middle East."

"Meanwhile, we have continued to execute our contracting strategy, securing
important near-term coverage for our fleet, which now stands at 70% for full
-year 2026. The recent events continue to create an environment where elevated
commodity prices and renewed focus on energy security are expected to accelerate
rig activity. Recent discussions with our customers confirm the early signs of
this trend as we observe an increased sense of urgency in awarding existing
tenders and bringing forward certain drilling programs. Our young and expanded
fleet positions us well to service our customers as this trend further
develops."

About Borr Drilling
Borr Drilling Limited is an international drilling contractor incorporated in
Bermuda in 2016 and listed on the New York Stock Exchange since July 31, 2019
and on Euronext Growth Oslo since December 19, 2025 under the ticker "BORR". The
Company owns and operates jack-up rigs of modern and high specification designs
and provides services focused on the shallow-water segment to the offshore oil
and gas industry worldwide. Please visit our website at www.borrdrilling.com.

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 the commencement or recommencement of operations of rigs and expected
timing thereof, new contract commitments, including any associated contract
commencement and duration, demand for drilling rig services and expected
acceleration of rig activity, tendering activity, drilling programs, contract
coverage, including associated average dayrates, 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 expected recommencement
of operations of rigs and new contract commitments described herein, including
any associated contract or operational commencement and duration, contract
coverage and dayrates, the performance of our rigs under contracts, risks
related to the commencement or recommencement of operations described herein
including  risks related to our ability to commence or recommence such
operations consistent with the timeframes described herein, the risk that tender
activity and demand for drilling rig services and programs do not materialize as
expected, the risk that backlog does not materialize as expected, the risk that
contracts do not materialize as expected, risks relating to market trends, and
other risks and uncertainties, including those described in our annual report on
Form 20-F for the year ended December 31, 2025 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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