Borr Drilling Limited Operational and Contracting Updates

Borr Drilling Limited provided an update on its fleet's operations, noting the resumption of the Arabia III in Saudi Arabia and expected recommencement of operations for the Groa and Arabia II in April 2026. The Forseti is also preparing to resume operations in Qatar. In the Gulf of America, the Odin is expected to commence operations in April 2026 after maintenance delays. In Southeast Asia, the Skald has received a letter of award for a six-month campaign expected to start in Q2 2026. The company's contract coverage for full-year 2026 is 70% at an average dayrate of $134,000, with 78% coverage for H1 2026 and 62% for H2 2026. The CEO highlighted the teams' efforts in managing Middle East disruptions and expressed optimism about accelerated rig activity due to energy security focus and elevated commodity prices.