Borr Drilling - Share Issue/Capital Change 2019

Borr Drilling Limited (BDRILL) - Reverse share split

Borr Drilling Limited (the "Company") announces that its Board of Directors has

approved a 5-to-1 reverse share split of the Company's shares (the "Reverse

Split").

Upon effectiveness of the Reverse Split, every five shares of the Company's

issued and outstanding ordinary shares, par value USD 0.01 per share will be

automatically combined into one issued and outstanding ordinary share, par value

USD 0.05 per share.

The current issued and outstanding shares of 532,640,327 will be consolidated

into approximately 106.5 million shares (subject to adjustment for fractional

shares).

Last trading day before the effective date (last day including right) will be on

25 June 2019. Trading on a reverse split adjusted basis (ex-date) will be on 26

June 2019. The record date will be 27 June. The new ISIN number for the ordinary

shares after the Reverse Split is BMG1466R207.

Shareholders who would otherwise hold a fractional share of the Company's

ordinary shares in connection with the Reverse Split will receive cash payment

equal to the closing price per share for the Company's shares on the OSE at the

last trading day prior to the ex-date for the Reverse Split. The cash payment is

expected to be made to eligible shareholders at the latest during the week

starting 1 July 2019.

The Company's Senior Unsecured Convertible Notes 2018/2023 conversion price will

change from USD 6. 6963 per share to USD 33.4815 per share in connection with

the Reverse Split.

21 June 2019

The Board of Directors

Borr Drilling Limited

Hamilton, Bermuda

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

-12 of the Norwegian Securities Trading Act.

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