Borr Drilling — Capital/Financing Update 2026

Jan 28, 2026

Borr Drilling Completes Acquisition of Five Premium Jack-Up Rigs

Borr Drilling Completes Acquisition of Five Premium Jack-Up Rigs

Hamilton, Bermuda, January 28, 2026 - Borr Drilling Limited (NYSE and Euronext

Growth Oslo: BORR) ("Borr Drilling" or the "Company") today announced that it

has completed its previously announced acquisition of five premium jack-up rigs

from Noble Corporation for a total purchase price of $360 million.

This acquisition increases Borr Drilling's fleet to 29 rigs, strengthens our

ability to serve customers across key offshore basins, and solidifies our

position as the leading pure-play owner of premium jack-up rigs. Following this

transaction, Borr Drilling continues to own the youngest jack-up rig fleet with

an international footprint.

Borr Drilling's Chief Executive Officer Bruno Morand commented, "We are pleased

to have expanded our premium fleet at an opportune point in this market cycle.

These five jack-up rigs are highly compatible with our existing portfolio and

provide well-suited capacity for near-term opportunities. The Borr Drilling

platform-built on operational excellence, customer centricity, and our premium

jack-up rig fleet-remains our defining competitive advantage, and we believe

this expansion will deepen customer relationships and drive attractive long-term

value for shareholders."

Rig Renaming

In connection with the acquisition, the five jack-up rigs are to be renamed as

follows:

Legacy Rig Name New Rig Name

Noble Regina Allen Sif

Noble Tom Prosser Freyja

Noble Mick O'Brien Forseti

Noble Resolute Bestla

Noble Resilient Joro

Enclosed with this press release is an updated Fleet Status Report that

incorporates the five acquired rigs and reflects other recent contracting

developments.

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 potential opportunities, the suitability of our rigs for potential

opportunities, potential value creation for certain stakeholders, 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 our ability to

secure contract commitments, the performance of our rigs under contracts, 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