Borr Drilling — Major Shareholding Notification 2019

Oct 28, 2019

Frenklin Resources, Inc. One Franklin Parkway San Mateo, CA 94403-1906

tel 6501312.2000 franklintempleton.com

28 October 2019

To: Oslo Bers

Attention: Market Administration Box 460 Sentrum 0105 Oslo, Norway ma~oslobors.no

Cc: Borr Drilling Ltd

S.E. Pearman Building, 2nd Fl. 9 Par-la-Ville Road Hamilton BM post a,bondrilling com

Dear Sir/Madam:

We are acting on behalf of Franklin Resources, Inc. and its affiliates. Franklin Resources, Inc., a diversified financial services company, and its affiliates perform investment management, advisory and related services for clients on a global basis.

Franklin Resources, Inc. itself does not own any shares of the company; rather the shareholdings are beneficially held by a group of funds and managed accounts that are managed by investment advisers directly or indirectly owned by Franklin Resources, Inc.

Franklin Resources, Inc., on behalf of Franklin Templeton Institutional, LLC ("FTILLC"), acting in the capacity as discretionary investment manager to underlying funds and managed accounts hereby gives notice that due to disposal of shares, FTILLC's shareholdings in Borr Drilling Ltd, as of 25 October, 2019, has increased above the 5% threshold to 5.19% of issued shares and votes, which totals to 5,828,189 shares. For purposes of this Notification, an outstanding share figure of 112,278,065 shares was used to calculate the percentage.

FTILLC will monitor the performance of the shares in Borr Drilling and may determine either to acquire or dispose of, shares in Borr Drilling or otherwise maintain its position on behalf of its discretionary investment management clients (being both funds and individually managed account clients) in the foreseeable future in accordance with the best interests of those clients. The underlying funds and managed accounts managed by FTILLC do not hold any rights to shares in Borr Drilling Ltd.

As the shares are publicly traded, they are sold in the secondary market at the then prevailing market price.

Should you require additional information regarding this notification, please contact me via email at subsshholder cr,franlclintempleton.com.

Be t Regards,

L ri A. eber

Assistant Secretary Franklin Resources, Inc.