OSLO, Norway, Dec. 17, 2021 - Borr Drilling Limited (NYSE and OSE: "BORR") is pleased to announce it has secured a contract for the premium jack-up drilling rig "Norve" with BW Energy for work in Gabon. The contract is expected to commence in the second half of 2022 after the completion of the rigs current contract. The work will cover 4 firm wells with an anticipated duration of 240 days plus options.

Additionally, the Company has secured a binding Letter of Award ("LOA") for the premium jack-up drilling rig "Thor" from an undisclosed operator in Southeast Asia. The program is expected to commence in June 2022 for a duration of one year plus options.

Hamilton, Bermuda

17 December 2021

This press release includes forward looking statements, which do not reflect historical facts and may be identified by words such as "expected", "will", "anticipated" and similar expressions and include statements relating to the commencement and duration of contracts for rigs and other non-historical matters. Such forward-looking statements are subject to risks, uncertainties and other factors could cause actual events to differ materially from the expectations expressed or implied by the forward-looking statements included herein and other factors described in the section entitled "Risk Factors" in our prospectuses and 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.

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SOURCE Borr Drilling Limited