Borr Drilling - Remuneration Information 2019

Borr Drilling Limited (BDRILL) - Share option awards

The Board of Borr Drilling Limited (the "Company") has granted 2,300,000 options

to acquire shares in the Company to certain employees and directors of the

Company. The award has been granted under the existing approved share option

scheme. The options have a strike price of USD 3.50 per share, which compares to

the Company's share's closing price of USD 2.84 on 8 March 2019.

The options will expire after five years and have a four-year vesting period. In

total 20 people are included in these new options awards. Total number of

options authorised by the Board is 17.47 million, and 15.375 million have been

awarded as of this date.

Two primary insiders were awarded options; Alexandra Kate Blankenship, Director

of the Company and primary insider, was awarded 150,000 options. Her total

exposure to the Company's shares after the award is 150,000 options. Georgina

Sousa, Company Secretary and Director of the Company, was awarded 50,000

options. Her total exposure to the Company's shares after the award is 50,000

options.

The Board is of the opinion that the issuance of options with a four-year

vesting period creates solid long-term incentive and commitment to the Company

by its employees. It will, contrary to higher fixed salary or cash bonuses, not

have any direct cash cost and will create better alignment with the Company's

shareholders.

The total number of shares issued as of today is 532,640,327 out of which

7,298,572 are held as Treasury Shares by the Company. Total authorised share

capital is USD 6,250,000.00 comprised of 625,000,000 shares of par value USD

0.01 each.

11 March 2019

The Board of Directors

Borr Drilling Limited

Hamilton, Bermuda

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