Borr Drilling - M&A Activity 2020

Borr Drilling Limited - Sale of rig

Borr Drilling Limited (the "Company") (NYSE: "BORR", OSE: "BDRILL") is pleased

to inform to have entered into an agreement to sell its cold stacked 2003 built

jack-up drilling rig "Balder" to BW Energy. The completion of the sale is

expected in the fourth quarter 2020, and the Company will receive USD 4.5

million sale proceeds. This sale follows the previously announced sale of the

2003 built jack up rig "Atla" announced 28 October 2020, which was also sold to

BW Energy. Together, the two sales will provide the Company with gross cash

proceeds of USD 14.5 million. The buyer plans to convert these rigs to Offshore

Installations (OI) equipped with production facilities, meaning the rigs will

cease to trade in the drilling rig market. Following these rig sales, Borr

Drilling will have 28 modern assets built after 2011.

2 November 2020

Hamilton, Bermuda

Questions should be directed to:

Magnus Vaaler, VP Investor Relations and Treasury

+47 22 48 30 00

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

Forward looking statements:

This press release includes forward looking statements, which do not reflect

historical facts and may be identified by words such as "expected", "plans" and

"will" and similar expressions and include statements relating to the completion

of the sale of rigs, total cash proceeds and other non-historical matters. Such

forward-looking statements are subject to risks, uncertainties and other factors

could cause actual events to differ materially from the expectations expressed

or implied by the forward-looking statements included herein and other factors

described in the section entitled "Risk Factors" or otherwise stated in our

regulatory filings and periodical reporting. 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.

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