Borr Drilling — Major Shareholding Notification 2023

May 25, 2023

Disclosure of shareholding

Disclosure of shareholding

Orbis SICAV Balanced Fund and Orbis OEIC Balanced Fund (together, the Funds) held Senior Unsecured Convertible Notes 2018/2023 (ISIN: NO0010822935) of Borr Drilling (Borr) which matured on 23 May 2023. The Funds are managed by Orbis Investment Management Limited (OIML), a company wholly-owned by Orbis Holdings Limited, which is in turn majority-owned by Orbis Allan Gray Limited. Orbis Allan Gray Limited is wholly-owned by Allan & Gill Gray Foundation.

As a result of the maturity of the convertible notes, the total shares and votes in Borr owned by the funds managed by OIML (including the Funds) has fallen below the 10% threshold, at 9.995%. This figure includes also convertible bonds (ISIN: NO0012828187) in Borr counted on “as converted” basis. The foregoing calculations are based on 254,263,598 outstanding shares in Borr.

This information is subject to the disclosure requirements set out in section 4-2 and 4-3 of the Norwegian Securities Trading Act.