Borr Drilling Limited - Grant of Share Options

Bermuda, September 2, 2024: The Board of Directors of Borr Drilling Limited (the "Company") (OSE and NYSE "BORR") has resolved to grant 2,990,000 share options (each, an "Option") under the Company's approved share option scheme to certain of its employees. Each Option gives the right to subscribe for one share in the Company. The Options will have a strike price of $6.68 and will vest equally over a three year period commencing on August 15, 2025. The Options will expire five years from the date of grant. Magnus Vaaler, Chief Financial Officer, a person discharging managerial responsibilities ("PDMR"), as defined by the (EU) Market Abuse Regulation, has been granted and accepted 225,000 Options. Please see the attached form of notification and public disclosure by the PDMR. This information is subject to the disclosure requirements in article 19 of the Regulation (EU) 596/2014 (the Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act. Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208