Borr Drilling : Substantial shareholder disclosure

Substantial shareholder disclosure

We are acting on behalf of Franklin Resources, Inc. and its affiliates. Franklin Resources, Inc., a diversified financial services company, and its affiliates perform investment management, advisory and related services for clients on a global basis. Franklin Resources, Inc. itself does not own any shares of the company; rather the shareholdings are beneficially held by a group of funds and managed accounts that are managed by investment advisers directly or indirectly owned by Franklin Resources, Inc. Franklin Resources, Inc., on behalf of Franklin Templeton Institutional, LLC ('FTILLC'), acting in the capacity as discretionary investment manager to underlying funds and managed accounts hereby gives notice that due to disposal of shares, FTILLC's shareholdings in Borr Drilling Ltd, as of 04 December, 2019, has fallen below the 5% threshold to 4.96% of issued shares and votes, which totals to 5,567,759 shares. For purposes of this Notification,an outstanding share figure of 112,278,065 shares was used to calculate the percentage. The underlying funds and managed accounts managed by FTILLC do not hold any rights to shares in Borr Drilling Ltd. As the shares are publicly traded, they are sold in the secondary market at the then prevailing market price.