Borr Drilling Limited - Grant of Restricted Share Units and Performance Share Units

Bermuda, May 30, 2024: The Board of Directors of Borr Drilling Limited (the "Company") (OSE and NYSE "BORR") has today granted in total 1,000,000 time based restricted share units ("RSUs") and performance based restricted share units ("PSUs"), to Patrick Schorn (CEO and Director), who is a person discharging managerial responsibilities (PDMR) as defined by the Market Abuse Regulation. The RSUs and PSUs will vest as follows: · 500,000 RSUs will vest December 31, 2025 · 250,000 RSUs will vest December 31, 2026 · 250,000 PSUs will vest December 31, 2026 Each RSU and PSU represents one share in the Company, and will, once vested, as resolved by the Company, be settled by shares. The award is conditional on remaining as an executive with the Company at the date of vesting. The PSU award will in addition be contingent on the total shareholder return performance of the Company versus a certain set of industry peers. Through this award, the Board of Directors aims to enhance the existing incentive rewards to create the optimum long-term alignment between the Company's shareholders and management. PDMR notification form attached hereto. This information is subject to the disclosure requirements in article 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act. Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208