Hamilton, Bermuda, September, 15, 2026 - Borr Drilling Limited (NYSE and OSE:
BORR) ("Borr Drilling" or the "Company") today announced that it has entered
into definitive agreements to divest its 51% equity interest in the Mexican
joint ventures Perforaciones Estratégicas e Integrales Mexicana S.A. de C.V. and
Perforaciones Estratégicas e Integrales Mexicana II, S.A. de C.V. (together,
"Perfomex") to its long-standing local partner in Mexico (the "Transaction").

Upon completion of the Transaction, Borr Drilling will have fully divested
Perfomex, while its local partner will become the sole owner of Perfomex and
assume responsibility for the management and operation of the Company's jack-up
rigs Galar, Gersemi and Njord, which are currently operating with PEMEX. The
Company will retain ownership of the three rigs and continue participating in
the underlying contracts through bareboat charter agreements, with economics
expected to be largely unchanged from the existing arrangement. Njord is
currently contracted through April 2028, with extension options thereafter,
while Galar and Gersemi are contracted through May 2030.

The Transaction follows Borr Drilling's recent expansion in Mexico with the
acquisition of five premium jack-up rigs, which the Company jointly owns through
BC Ventures Limited, a 50/50 joint venture with its local partner. Following
completion of the Transaction, Perfomex will continue its operations related to
integrated well services and PEMEX, while Borr Drilling will independently
operate and market its fleet to other operators in the region through its
affiliated companies.

The Transaction is expected to simplify Borr Drilling's corporate and operating
structure in Mexico. The Company believes the streamlined structure strengthens
its local partnership, creates a more efficient platform for future growth in
Mexico and supports the deployment of additional Borr rigs as demand develops in
this well-established shallow-water market.

Under the terms of the definitive agreements, a post-closing transition period
is expected to facilitate the orderly transfer of operational responsibilities
to Borr Drilling's local partner.

The sale consideration for the Transaction is based on the estimated net book
value of the Company's equity interest in Perfomex as of July 31, 2026.

The Transaction is expected to close in September 2026, subject to customary
closing conditions.

About Borr Drilling Limited
Borr Drilling Limited is an international drilling contractor incorporated in
Bermuda in 2016 and listed on the New York Stock Exchange since July 31, 2019
and on Euronext Oslo Børs since May 21, 2026 under the ticker "BORR." The
Company owns and operates jack-up rigs of modern and high specification designs
and provides services focused on the shallow-water segment to the offshore oil
and gas industry worldwide. Please visit our website at www.borrdrilling.com.

Forward-Looking Statements
This press release and related discussions include forward-looking statements
made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements do not reflect
historical facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intend", "may", "should", "will", "likely",
"aim", "plan", "guidance" and similar expressions and include, but are not
limited to, statements regarding the proposed divestment of the joint ventures,
the expected timing and completion of the transaction, the anticipated benefits
of the divestment, the future management and operating structure for the rigs in
Mexico, the resource requirements related to our operations including any
transitional services, the expected economics of the related bareboat charter
arrangements, expectations about future growth in Mexico and opportunities with
PEMEX, contract coverage and extension opportunities, expectations about
marketing and operations with international and independent oil companies and
other operators in Mexico, expectations about the simplification of our
corporate and operating structure and strengthening our local partnership in
Mexico including the benefits thereof, expectations about a gain or loss
associated with the divestment, other statements relating to the divestment
described herein, ownership of rigs through BC Ventures Limited, and other non
-historical statements. Such forward-looking statements are subject to risks,
uncertainties, contingencies and other factors that could cause actual events to
differ materially from the expectations expressed or implied by the forward
-looking statements included herein, including the risks relating to our
business and industry, including relating to industry conditions, risks relating
to completion of the divestment, including on anticipated terms or within the
expected timeframe, or at all, risks that the expected benefits of the
divestment or simplified operating structure are not realized, risks relating to
customer demand, contracting activity and market conditions, the risk that our
customers or counterparties fail to make required payments to us or otherwise
comply with their contractual obligations, risks relating to contracting,
including our ability to secure future opportunities in Mexico with PEMEX,
international and independent oil companies, or otherwise, risks related to the
operating structure of the rigs in Mexico following the divestment, risks
relating to the operations of our rigs and their associated contract terms,
dayrates, and bareboat charter rates, including bareboat charter agreements,
risks relating to joint venture partners and counterparties under bareboat
charter arrangements, risks relating to contracting our most recently acquired
rigs and other available rigs including the five rigs acquired from Fontis
Finance Ltd. through a joint venture, risks relating to suspension or
termination of operations, and other risks and uncertainties, including those
described in our annual report on Form 20-F for the year ended December 31, 2025
and our other filings with and submissions to the Securities and Exchange
Commission. Such risks, uncertainties, contingencies and other factors could
cause actual events to differ materially from the expectations expressed or
implied by the forward-looking statements included herein. 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.

Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208,
ir@borrdrilling.com
king statements\, whether as a result of new\
information\, future events or otherwise.\
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Questions should be directed to: Magnus Vaaler\, CFO\, +44 1224 289208\,\
ir@borrdrilling.com\