Borr Drilling - Share Issue/Capital Change 2023

Borr Drilling Limited - Approval of Share Repurchase Program

The board of directors in Borr Drilling Limited (the "Company") has today

approved a share repurchase program for the Company's shares, to be purchased in

the open market and limited to a total amount of USD 100,000,000.

The timing and amount of any shares repurchased will be determined by the

company based on its evaluation of market conditions and other factors and as

permitted by securities laws and other legal requirements. The authorization

does not have a fixed expiration and the repurchase program may be suspended or

discontinued at any time.

8 December 2023

Hamilton, Bermuda

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 include statements with respect the share repurchase

program announced herein. Such forward looking statements are subject to risks,

uncertainties, contingencies and other factors could cause actual events to

differ materially from the expectations expressed or implied by such forward

-looking statements, including risks related to the actual amount of shares

ultimately repurchased under the share repurchase program and the prices and

timing thereof, risks relating to available liquidity, limits under debt

instruments and other limits on our ability to repurchase shares and other risks

and uncertainties described in the section entitled "Risk Factors" in our most

recent annual report on Form 20-F and other filings with the Securities and

Exchange Commission. 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.

Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208

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