NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, INAUSTRALIA ,CANADA ,JAPAN ,HONG KONG ,THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, SELL OR
SUBSCRIBE FOR ANY SECURITIES DESCRIBED HEREIN.Hamilton, Bermuda ,25 November 2020
Reference is made toBorr Drilling Limited ("Borr" or the "Company") (NYSE:
"BORR", OSE: "BDRILL") stock exchange notice as of23 November 2020 relating to
the results in the conditional subsequent offering of up to 10,000,000 new
shares on theOslo Stock Exchange (the "Offer Shares " and the "Subsequent
Offering"), each at a subscription price atUS$0.53 per Offer Share.
The subscription period in the Subsequent Offering expired on23 November 2020
at16:30 CET . The board of directors of Borr (the "Board") has now resolved
completion of the Subsequent Offering and the allocation of 10,000,000 Offer
Shares in accordance with the allocation criteria presented in the prospectus
dated13 November 2020 section 5.8.
Allocation letters will be distributed on25 November 2020 to shareholders who
have been allocatedOffer Shares . Payment date for the Offer Shares will be on26 November 2020 , and delivery of the Offer Shares will be on or about 27November 2020 .Clarksons Platou Securities AS is Sole Manager, and Ro Sommernes advokatfirma DA
is legal advisor, to Borr in connection with the Subsequent Offering.
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act. Important note: This announcement
is not being made in or intothe United States ,Canada ,Australia ,Japan , Hong
Kong or in any other jurisdiction where it would be prohibited by applicable
law, or require preparation of any prospectuses or similar documents. This
distribution does not constitute or form part of an offer or solicitation of an
offer to purchase or subscribe for securities inthe United States . The shares
referred to herein have not been registered under theUnited States Securities
Act of 1933, as amended, and may not be offered or sold inthe United States ,
except pursuant to an applicable exemption from registration.
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