Borr Drilling — Earnings Release 2017

Aug 31, 2017

(BDRILL) - Borr Drilling Limited Announces Second Quarter 2017 Results

(BDRILL) - Borr Drilling Limited Announces Second Quarter 2017 Results

Hamilton, Bermuda, August 31, 2017, Borr Drilling Limited ("Borr

Drilling" or the "Company") today announces its second quarter

unaudited results for the period ended June 30, 2017.

Highlights

- Completion of the acquisition of 10 high-specification

jack-up rigs and 5 newbuilds from Transocean on May 31, 2017

- Amended the terms of the newbuilding contracts with Keppel

Fels with respect to price and delivery dates

Subsequent events

- Letter of commitment received from Total E&P Nigeria

Limited for work in Nigeria

- Simon Johnson appointed the new CEO

- On August 21, 2017, the Company acquired more than 5% of

the outstanding shares in Atwood Oceanics Inc.taking its total

holding to 9,7% of the company

- Completed the listing on Oslo Stock Exchange August 30,

2017

- Changes to the Board of Directors

Please see attachments for further information

Visit our website at: www.borrdrilling.com

August 31, 2017

The Board of Directors

Borr Drilling Limited

Hamilton, Bermuda

Questions should be directed to:

Simon Johnson: Chief Executive Officer, Borr Drilling Management

DMCC

+ 971 4 448 7501

Rune Magnus Lundetræ: Deputy CEO and Chief Financial Officer, Borr

Drillling Management AS

+47 23 48 30 00

Forward looking statements

This announcement includes forward looking statements. Forward

looking statements are, typically, statements that do not reflect

historical facts and may be identified by words such

as "anticipate", "believe", "continue", "estimate", "expect", "int

ends", "may", "should", "will" and similar expressions.

The forward looking statements in this announcement are based upon

various assumptions, many of which are based, in turn, upon

further assumptions. Although Borr Drilling Limited believes that

these assumptions are reasonable, they are, by their nature,

uncertain and subject to significant known and unknown risks,

contingencies and other factors which are difficult or impossible

to predict and which are beyond our control. 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.

The information, opinions and forward looking statements contained

in this announcement speak only as of the date hereof and are

subject to change without notice."