Forward looking statements 2 This presentation includes forward looking statements. Forward looking
statements are, typically, statements that do not reflect historical facts and may be identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "intends", "may", "should", "will" and similar expressions and
include regarding industry trends including market conditions and activity levels in the jack-up rig and oil industry, expectations as to global jack-up rig count including expected retirements from global fleet and expected tenders and
demand levels, e statements with respect to day rates, delivery of newbuilds including expected delivery timing, strategy and plans with respect to investments in joint ventures, breakeven, opportunities to improve capital structure and
liquidity in 2021, expectation to use factoring facility relating to JV in Mexico, expected contracting and operation of our jack-up rigs and contract terms including estimated commencement and duration of contracts, statements relating to
our liquidity improvement plan completed in January 2021 and that company is positioned well for upturn in market expectations with respect to contracting strategy, expected business environment including statements made under “Market” and
“Outlook” above, statements with respect payments from Pemex, , statements with respect to tender activity, global jack-up rig count, , expected industry trends including with respect to demand for and expected utilization of rigs,
expectations as to the role of Borr Drilling in any industry consolidation, and other non-historical statements. The forward-looking statements in this announcement are based upon various assumptions, many of which are based, in turn, upon
further assumptions, which are, by their nature, uncertain and subject to significant known and unknown risks, contingencies and other factors which are difficult or impossible to predict and which are beyond our control. There are important
factors that could cause our actual results, level of activity, performance, liquidity or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by these forward-looking
statements including risks relating to our industry and business and liquidity, the risk of delays in payments to our Mexican JVs and consequent payments to us, the risk that our customers do not comply with their contractual obligations,
including payment or approval of invoices for factoring, risks relating to industry conditions and tendering activity, risks relating to the agreements we have reached with lenders, risks relating to our liquidity, risks that the expected
liquidity improvements do not materialize or are not sufficient to meet our liquidity requirements and other risks relating to our liquidity requirements, risks relating to cash flows from operations, the risk that we may be unable to raise
necessary funds through issuance of additional debt or equity or sale of assets; risks relating to our loan agreements and other debt instruments including risks relating to our ability to comply with covenants and obtain any necessary
waivers and the risk of cross defaults, risks relating to our ability to meet our debt obligations and obligations under rig purchase contracts and our other obligations as they fall due and other risks described in our working capital
statement, risks relating to future financings including the risk that future financings may not be completed when required and future equity financings will dilute shareholders and the risk that the foregoing would result in insufficient
liquidity to continue our operations or to operate as a going concern and other risks factors set forth under “Risk Factors” in our filings with the U.S. Securities and Exchange Commission and prospectuses filed with the Norwegian NSA.Given
these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Any forward-looking statements that we make in this presentation speak only as of the date of such statements
and we caution readers of this presentation not to place undue reliance on these forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-looking statement or statements to reflect
events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. The equity raise referenced in this presentation has not been registered under the US Securities Act of 1933, and may
not be offered or sold in the US absent registration or an exception from registration or in a transaction not subject to registration under the Securities Act.