Borr Drilling — Investor Presentation 2021

Aug 31, 2021

Fleet Status Report

31st August 2021

Borr Drilling Limited S.E Pearman Building, 2nd Fl, 9 Par-la-Ville Road, Hamilton HM11, Bermuda

+971 4 4487501

Prospector 1

Bo Dr illi rr ng st A Fle Sta Re 31 t 2 02 1 et tus rt - po ug us
Ne w C / E nsi s / Am end tra cts xte nts on on me
No rve • S Co ct ( fro OI) Ga ign ed ntra m L : D mb er 2 021 to Ap ril 2 022 Va alc bon ece o, ,
Gu lod nn • O tion s E cis ed: Se ber 20 21 to O ber 20 21, PT TE P, Ma lay sia tem cto p xer p
Sa ga • S ign ed Co ntra ct ( fro m L OA ): Se tem ber 20 21 to A st 2 022 He Ma lay sia p ugu ss, ,
Rig TB C • S ign ed Co ct ( fro m L OI) : Ju ly 202 2 to No ber 20 22, W inte rsh all, Me xic o. R ig s ele ctio be nfir d in Q4 20 21. ntra n to vem co me
Let f A rd / L of Int / N tiat ion ter ett ent s o wa ers ego s
Gu lod nn • LO A: Oc tob er 2 021 Feb 202 2, Un dis clo sed Ma lay sia to rua ry ,
Fri gg • LO I: D mb er 2 021 / J 20 22 to D mb er 2 022 Un dis clo sed We st A fric ece anu ary ece a , ,
Na tt • LO to O fric A: No ber 20 21 cto ber 20 22, Un dis clo sed We st A vem a ,
Oth De vel nts er op me
Pro cto r 1 spe • C lud ed rati wi th N tun nd d w ith Kis tos in Jul 202 1. T he rig wil l re ctiv itie ith Ne tun leti Kis tos rks onc ope ons ep e a com me nce y sum e a s w p e u pon co mp ng wo cop e
Idu n • C lud ed rati wi th V igo in late Ma 202 1 a nd d o atio wit h P (a ssi ) in J 20 21 est etro ent onc ope ons y com me nce per ns nas gnm une
Sa ga • C lud ed rati wi th J X N ipp (as sig ent ) an d re ont t w ith PT TE P M ala ia i n M 202 1. onc ope ons on nm sum e c rac ys ay

Saga

This summary is provided as a courtesy and is not intended to replace a detailed review of the Fleet Status Report. This summary contains information on letters of intent/award and advanced negotiations. Letters of intent/award or advanced negotiations may not result in an actual drilling contract.

Rig Na me	Rig De sig n	Rig ter Dep Wa th ( ft)	Yea r B uilt	Cus / St tom atu er s	Co ct S ntra tart	Co ntra ct E nd	Loc atio n	Co ent mm s
Pre miu m J ack -Up s
				PTT EP	Sep tem ber - 20 20	Oct obe r - 2 021	Mal ia ays	Ope ratin g
Gun nlod	cific Cla PPL Pa ss 4 00	ft 400	201 8	Und iscl d ose	Oct obe r - 2 021	Feb 202 2 rua ry -	Mal ia ays	LOA
Idun	KFE LS Sup er B Big foot Cla ss	350 ft	201 3	Pet rona s	Jun 202 1 e -	Jan - 2 022 uary	Mal ia ays	Ope ratin g
				PTT EP	Sep tem ber- 202 0	Sep tem ber - 20 21	Mal ia ays	Ope ratin g
Sag a	LS Sup foot Cla KFE er B Big ss	ft 400	201 8	Hes s	Sep tem ber - 20 21	Aug ust - 20 22	Mal ia ays	Com mitt ed
Ska ld	KFE LS Sup er B Big foot Cla ss	400 ft	201 8	PTT EP	Jun 202 1 e -	Jun 202 4 e -	Tha ilan d	Ope ratin ith o ptio n to ext end g w
				Ava ilab le			Cam ero on	Wa Sta cke d rm
1 Frig g	LS Sup KFE er A	ft 400	201 3	Und iscl d ose	Dec ber - 20 21 / em Jan - 2 022	Dec ber - 20 22 em	We st A frica	LOI
				Orie ntal	May - 2 021	Oct obe r - 2 021	Nig eria	Ope ratin ith o ptio n to ext end g w
Nat t	cific Cla PPL Pa ss 4 00	ft 400	201 8	Und iscl d ose	Nov ber - 20 21 em	Oct obe r - 2 022	We st A frica	LOA
				BW E	Apr il - 2 021	Sep ber - 20 21 tem	Gab on	Ope ratin g
Nor ve	PPL Pa cific Cla ss 4 00	400 ft	201 1	Vaa lco	Dec ber - 20 21 em	Apr il - 2 022	Gab on	Com mitt ed w ith o ptio end n to ext
1	F&G , JU 200 0E	400 ft		Kist os	July - 2 021	Nov ber - 20 21 em	Net her land s	Ope ratin g
Pro ctor 1 spe			201 3	Nep tune	Dec ber - 20 21 em	Mar ch - 202 2	Net her land s	Com mite d w ith o ptio end n to ext
1 Pro ctor 5 spe	F&G , JU 200 0E	400 ft	201 4	CN OO C	Nov ber - 20 20 em	Feb 202 2 rua ry -	Uni ted King dom	Ope ratin ith o ptio end n to ext g w
Gal ar	PPL Pa cific Cla ss 4 00	400 ft	201 7	PEM EX	Apr il - 2 020	Dec ber - 20 22 em	Mex ico	Ope ratin g
Ger i sem	PPL Pa cific Cla ss 4 00	400 ft	201 8	PEM EX	Aug - 20 19 ust	Dec ber - 20 22 em	Mex ico	Ope ratin g
Grid	cific Cla 00 PPL Pa ss 4	400 ft	201 8	PEM EX	- 20 19 Aug ust	- 20 22 Dec ber em	Mex ico	Ope ratin g
Njo rd	cific Cla PPL Pa ss 4 00	ft 400	201 9	PEM EX	Jun 202 0 e -	Dec ber - 20 22 em	Mex ico	Ope ratin g
Odi n	LS Sup foot Cla KFE er B Big ss	ft 350	201 3	PEM EX	Mar ch - 202 0	Dec ber - 20 22 em	Mex ico	Ope ratin g
Mis t	LS Sup foot Cla KFE er B Big ss	ft 350	201 3	Ava ilab le			Mal ia ays	Sta Wa cke d rm
Gym e	PPL Pa cific Cla ss 4 00	400 ft	201 8	Ava ilab le			Sin gap ore	Wa Sta cke d rm
Her mod	KFE LS B C lass	400 ft	201 9	Ava ilab le			Sin gap ore	Wa Sta cke d rm
Hei mda l	KFE LS B C lass	400 ft	202 0	Ava ilab le			Sin gap ore	Wa Sta cke d rm
Hil d	KFE LS Sup er B Cla ss	400 ft	202 0	Ava ilab le			Sin gap ore	Wa Sta cke d rm
Tho r	KFE LS Sup er B Big foot Cla ss	400 ft	201 9	Ava ilab le			Sin gap ore	Wa Sta cke d rm
Ger d	PPL Pa cific Cla ss 4 00	400 ft	201 8	Ava ilab le			Cam ero on	Wa Sta cke d rm
Gro a	PPL Pa cific Cla ss 4 00	400 ft	201 8	Ava ilab le			Cam ero on	Wa Sta cke d rm
1 Ran	KFE LS Sup er A	400 ft	201 3	Ava ilab le			Uni ted King dom	Wa Sta cke d rm

Borr Drilling

Fleet Status Report - 31st August 2021

Borr Drilling

Fleet Status Report - 31st August 2021

Rig Na me	Rig De sig n	Rig ter Dep Wa th ( ft)	Yea r B uilt	Cus tom / St atu er s	Co ntra ct S tart	Co ntra ct E nd	Loc atio n	Co ent mm s
				Jac k-U Und er C ps	tru ctio ons n
Tiva r	KFE LS Sup er B Big foot Cla ss	400 ft		Und er C tion truc ons			KFE LS ship yard , Si nga pore	Rig De live ry in Ma y - 2 023
Val e	LS Sup foot Cla KFE er B Big ss	400 ft		er C Und truc tion ons			LS , Si KFE ship yard nga pore	y - 2 023 Rig De live ry in Jul
Var	LS Sup foot Cla KFE er B Big ss	ft 400		er C Und truc tion ons			LS , Si KFE ship yard nga pore	Se Rig De live ry in ptem ber - 20 23
Hul dra	LS Bigf B C KFE oot lass	ft 400		er C Und truc tion ons			LS , Si KFE ship yard nga pore	Oc Rig De live ry in tobe r - 2 023
Hei dru n	LS Bigf B C KFE oot lass	ft 400		er C Und truc tion ons			LS , Si KFE ship yard nga pore	Rig De live ry in De ber - 20 23 cem
1 - H D/HE Cap abilit y.

Operating / Committed Cold Stack Under Construction ^{28 14 0 5 28 14 0 5} AvailablePremium Jack-UpsTotal Fleet 99

ocation	Comments
pyard, Singapore	Rig Delivery in May - 2023
pyard, Singapore	Rig Delivery in July - 2023
pyard, Singapore	Rig Delivery in September - 2023
pyard, Singapore	Rig Delivery in October - 2023
pyard, Singapore	Rig Delivery in December - 2023

Id Stack	Under Construction

Na	atio		202	1			202	2				202 3			202	4
Rig me	Loc n	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
						Pre	miu m J ack -Up	s
Gun nlod	Ma lays ia	PTT EP			LOA
Idu n	Ma lays ia	Ves	tigo Pet	ron as
Sag a	Ma lays ia	JX Nip pon	PTT	EP	Hes s
Ska ld	Tha ilan d		PTT	EP
1 Frig g	We st A fric a	Wa Sta cke rm	d		LO	I			LO	I Op tion
Nat t	Nig eria	Firs t E& P	Orie l nta		LOA				LOA Op	tion
Nor ve	Gab on		BW E		Vaa	lco	Opt ion
1 Pro r 1 cto spe	Net her land s	One -Dy as	Nep tun	eKi stos	Nep	tun e	Opt ion
1 Pro cto r 5 spe	Uni ted Kin gdo m	CN OO C				Opt	ion
Gal ar	Mex ico	PEM EX
Ger i sem	Mex ico	PEM EX
Grid	Mex ico	PEM EX
Njo rd	Mex ico	PEM EX
Od in	Mex ico	PEM EX
Mis t	Ma lays ia	RO C O il	Wa	Sta cke d rm
Gym e	Sin gap ore	Wa Sta cke rm	d
Hei mda l	Sin gap ore	Wa Sta cke rm	d
Her mod	Sin gap ore	Wa Sta cke rm	d
Hild	Sin gap ore	Wa Sta cke rm	d
Tho r	Sin gap ore	Sta Wa cke rm	d
Ger d	Cam ero on	Sta Wa cke rm	d
Gro a	Cam ero on	Sta Wa cke rm	d
1 Ran	Uni ted Kin gdo m	Sta Wa cke rm	d
						Jac k-U	Un der Co nst ps	tio ruc n
Tiva r	KFE LS ship d, S inga yar por e	Rig Del iver y in	Ma y - 2 023
Val e	KFE LS ship d, S inga yar por e	Rig Del iver y in	Jul y - 2 023
Var	KFE LS ship d, S inga yar por e	Rig Del iver y in	Se ptem ber	- 20 23
Hul dra	LS d, S KFE ship inga yar por e	Rig Del iver y in	Oc tobe r -	202 3
Hei dru n	KFE LS ship d, S inga yar por e	Rig Del iver y in	De ber cem	- 20 23
		Firm					Opt ion			Ava	ilab le			Und er C	tion truc ons

Borr Drilling

Fleet Status Report - 31st August 2021

1 - HD/HE Capability

	202	4
Q4

Forward Looking Statements:

The statements described in this status report that are not historical facts are "Forward Looking Statements".

Forward Looking Statements reflect management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. No assurance can be given that the expectations expressed in these Forward-Looking Statements will prove to be correct. Actual results could differ materially from expectations expressed in, or implied by, the Forward-Looking Statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is unrealised. These include, but are not limited to, changes to commencement dates, contract duration, earned day rates, locations and other contractual terms; risks relating to the delivery of drilling rigs under construction; sale and purchase of drilling units; oil and gas prices; and risks associated with international operations generally.

No Forward-Looking Statement contained in herein or expressed elsewhere should be relied upon as predicting future events. We undertake no obligation to update or revise any Forward-Looking Statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.

This summary contains information on letters of intent/award and advanced negotiations. Letters of intent/award or advanced negotiations may not result in an actual drilling contract.

Borr Drilling

Fleet Status Report - 31st August 2021

Additional information regarding this Fleet Status Report