Borr Drilling — Share Issue/Capital Change 2024

Mar 1, 2024

Borr Drilling Limited - Adjustment conversion price convertible bonds

Borr Drilling Limited - Adjustment conversion price convertible bonds

Hamilton, Bermuda, March 1, 2024

Reference is made to Borr Drilling Limited's ("Borr Drilling" or the "Company")

(NYSE and OSE: "BORR") stock exchange releases related to the declaration of

dividend of paid-in capital of $0.05 per share as announced on February 22, 2024

(the "Dividend").

In accordance with the loan agreement for the Company's USD 250,000,000 5%

Senior Unsecured Convertible Bonds 2023/2028, ISIN NO0012828187, the Dividend

has triggered an adjustment to the conversion price from USD 7.3471 to USD

7.2384 per depository receipt listed on Oslo Stock Exchange.

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