Borr Drilling : Fleet Status Report – January 2019

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Borr Drilling

Fleet Status Report - 2nd January 2019

New Contracts / Extensions / Ammendments

Odin:

• • New contract: March 2019 to November 2019, Operator Undisclosed, Mexico

Frigg:

• • Exercised Option: January 2019 to October 2019, Total, Nigeria

• • Assignment: April 2019 to October 2019, Shell, Nigeria

C20051:

• • Exercised Option: January 2019 to February 2019, Total, Netherlands

MSS1:

• • Contract Extension: March 2019 to April 2019, TAQA, UK (slot in the current contract)

Letters of Intent / Negotiations

Prospector 5:

• • Advanced Negotiations: late 1Q2019 to 1Q2020, North Sea

C20051:

• • Advanced Negotiations: 2Q2019 to 4Q2019, North Sea

This summary is provided as a courtesy and is not intended to replace a detailed review of the Fleet Status Report. This summary contains information on letters of intent/award and advanced negotiations. Letters of intent/award or advanced negotiations may not result in an actual drilling contract.

illing contract.

Forward Looking Statements:

The statements described in this status report that are not historical facts are "Forward Looking Statements".

Forward Looking Statements reflect management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. No assurance can be given that the expectations expressed in these Forward-Looking Statements will prove to be correct. Actual results could differ materially from expectations expressed in, or implied by, the Forward-Looking Statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is unrealised. These include, but are not limited to, changes to commencement dates, contract duration, earned day rates, locations and other contractual terms; risks relating to the delivery of drilling rigs under construction; sale and purchase of drilling units; oil and gas prices; and risks associated with international operations generally.

tements will pro ntractual terms;

No Forward-Looking Statement contained in herein or expressed elsewhere should be relied upon as predicting future events.

We undertake no obligation to update or revise any Forward-Looking Statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.

Borr Drilling - Fleet Status Report - January 2019

Fleet Status Report - 2nd January 2019

Rig Name

Rig Design

Rig Water Depth (ft)Year Built

Customer / Status

Contract Start

Contract End

Location

Comments

Premium Jack-Ups

Galar

Gersemi

Grid

Gunnlod

Gyme

Idun

Saga

Skald

Mist

OdinFrigg 1

Prospector 5 1

Prospector 1 1

PPL Pacific Class 400

PPL Pacific Class 400

PPL Pacific Class 400

PPL Pacific Class 400

PPL Pacific Class 400

KFELS Super B Bigfoot Class

KFELS Super B Bigfoot Class

KFELS Super B Bigfoot Class

KFELS Super B Bigfoot Class

KFELS Super B Bigfoot Class

KFELS Super A

F&G, JU2000E

F&G, JU2000E

Gerd

PPL Pacific Class 400

Groa

PPL Pacific Class 400

Ran 1

400 ft

2017

400 ft

2018

400 ft

2018

400 ft

2018

400 ft

2018

350 ft

2013

400 ft

2018

400 ft

2018

350 ft

2013

350 ft

2013

400 ft

400 ft

400 ft

2013 2014 2013

400 ft

400 ft

2018

2018

KFELS Super A

400 ft

2013

Natt

PPL Pacific Class 400

Available

Available

Available

Available

Available

Available

Available

Available

KrisEnergy

Available

Undisclosed

Total

Shell (via Assignment)

Nexen

Tulip

Available

Exxon

Available

Exxon

Available

Spirit EnergyNovember - 2018

December - 2018

March - 2019

January - 2019

April - 2019

August - 2018

December - 2018

September - 2018

March - 2019

September - 2018

April / May - 2019

September - 2018

April - 2019

February - 2019

February - 2019

November - 2019

March - 2019

October - 2019

February - 2019

May - 2019

March - 2019

March - 2021

April - 2019

April / May - 2021

April - 2019

March - 2020

Perenco

RoyalGate Energy

BW Energy Dussafu

September - 2018

May - 2019

July -2019

Singapore

Singapore

Singapore

Singapore

Singapore

Singapore

Singapore

Singapore

Thailand

Singapore

Mexico

Nigeria

Nigeria

United Kingdom

Netherlands

Singapore

Nigeria

Singapore

Nigeria

Netherlands

United Kingdom

April - 2019

June -2019

April - 2020

Available

400 ft

2018

First E&P

October - 2018

March / April - 2019

March - 2019

March / April - 2021

Gabon

Equatorial Guinea

Gabon

SingaporeNigeriaWarm Stacked

Warm Stacked

Warm Stacked

Warm Stacked

Warm Stacked

Warm Stacked

Warm Stacked

Warm Stacked

Operating

Activation and Mobilization

Committed

Commited

Committed with option to extend

Operating

Operating with option to extend

Activation and Mobilization

Committed with option to extend

Activation and Mobilization

Committed with option to extend

Activation and Mobilization

Committed

Operating

Committed

Committed

Activation and MobilizationCommitted with option to extend

Standard Jack-Ups

C20051	CFEM T-2005-C	360 ft	1982	Total	September - 2018	February - 2019	Netherlands	Operating
Dhabi II	Baker Marine BMC-150 ILC	150 ft	1981	NDC (ADOC)	April - 2017	July - 2019	United Arab Emirates	Operating
B152	Baker Marine BMC-150 ILC	150 ft	1982	NDC (ADOC)	April - 2017	November - 2019	United Arab Emirates	Operating
B391	Baker Marine Europe Class	250 ft	1981	Spirit Energy	March - 2018	December - 2019	United Kingdom	Operating with option to extend

Semi-Submersible

MSS1

Offshore Company (IDC) SCP III M2

1500 ft

1979

TAQA

March - 2018

November - 2019

United Kingdom

Operating with option to extend

Fleet Status Report - 2nd January 2019

Rig Name

Rig Design

Rig Water Depth (ft)Year Built

Customer / Status

Contract Start

Contract End

Location

Comments

Jack-Ups Under Construction

Njord

Hild

Heimdal

Hermod

Huldra

Tivar

HeidrunPPL Pacific Class 400

KFELS Super B Bigfoot Class

KFELS Mod V

KFELS Mod V

KFELS Mod V

KFELS Super B Bigfoot Class

KFELS Mod V

Vale

KFELS Super B Bigfoot Class

Var

KFELS Super B Bigfoot Class

400 ft

Under Construction

PPL shipyard, Singapore

400 ft

Under Construction

KFELS shipyard, Singapore

400 ft

Under Construction

400 ft

Under Construction

KFELS shipyard, Singapore

KFELS shipyard, Singapore

400 ft

Under Construction

400 ft

Under Construction

KFELS shipyard, Singapore

KFELS shipyard, Singapore

400 ft

Under Construction

400 ft

Under Construction

KFELS shipyard, Singapore

KFELS shipyard, Singapore

400 ft

Under Construction

KFELS shipyard, SingaporeRig Delivery in January - 2019

Rig Delivery in October - 2019

Rig Delivery in January - 2020

Rig Delivery in April - 2020

Rig Delivery in July - 2020

Rig Delivery in July - 2020

Rig Delivery in October - 2020

Rig Delivery in October - 2020

Rig Delivery in December - 2020

Cold Stacked Jack-Ups

Atla

Balder

Baug 1

Eir 1

F&G, JU 2000

F&G, JU 2000

F&G, Mod VI Universe Class

F&G, Mod VI Universe Class

400 ft

394 ft

400 ft

394 ft

2003 2003 1991 1999

United Arab Emirates

Cameroon

United Kingdom

United KingdomNot Marketed

Not Marketed

1 - HD/HE Capability.

Forward Looking Statements:The statements described in this status report that are not historical facts are "Forward Looking Statements".

Forward Looking Statements reflect management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. No assurance can be given that the expectations expressed in these Forward-Looking Statements will prove to be correct. Actual results could differ materially from expectations expressed in, or implied by, the Forward-Looking Statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is unrealised. These include, but are not limited to, changes to commencement dates, contract duration, earned day rates, locations and other contractual terms; risks relating to the delivery of drilling rigs under construction; sale and purchase of drilling units; oil and gas prices; and risks associated with international operations generally.

No Forward-Looking Statement contained in herein or expressed elsewhere should be relied upon as predicting future events.

We undertake no obligation to update or revise any Forward-Looking Statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.

Operating / Committed

Available

Cold Stack

Under Construction

9

Premium Jack-Ups	29	10	8	2
Standard Jack-Ups	6	4	2
Total Jack-Ups	35
Semi - Submersible	1	1	9
Total Fleet	36	15	8	4

Gersemi

Borr Drilling

Fleet Status Report - 2nd January 2019

Grid

Gunnlod

Gyme

Idun

Saga

Skald

Mist

Odin

Frigg 1

Prospector 5 1

Prospector 1 1

Singapore

Singapore

Singapore

Singapore

Singapore

SingaporeAvailable - Warm StackedAvailable - Warm StackedAvailable - Warm Stacked

Available - Warm Stacked

Available - Warm StackedAvailable - Warm Stacked

Gerd

Activation & Mobilization

Singapore / Nigeria

UnderExxon

2 x 1 Year Optional Period

Borr Drilling - Fleet Status Report - January 2019