Further Extension of Application Period for the Equity Offering

Reference is made to Borr Drilling Limited’s announcement dated 22 September relating to the contemplated equity offering of USD 40-50 million in new depository receipts (the “Equity Offering”) and the subsequent notice on 25 September 2020 announcing an extension of the application period of the Equity Offering.

Borr Drilling is making good progress with its discussions with its lenders to improve the concessions previously announced and has therefore decided to further extend the application period for the Equity Offering to 08:00 CET/2:00 am EST on 30 September 2020. The Board is confident that concessions from lenders will be in place prior to Wednesday morning. The Company may, in its own discretion, extend or shorten the application period at any time and for any reason.