Exhibit 99.1
Q3 2021 Presentation 05 November 2021 cover
Forward looking statements This announcement 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", "likely" and similar
expressions and include expectations regarding industry trends and market outlook, including expected trends and activity levels in the jack-up rig and oil industry, expected utilization levels and tendering activity, demand, statements
with respect to fully contracting our fleet, contract backlog, LOIs and LOAs, tendering and contracting activity, market opportunities and contract terms including estimated duration of contracts and activity of rigs on particular
contracts, expected number of rigs required, expected E&P capex, statements about our ability to improve financial performance and our financial obligations and maturities, statements as to market sentiment including statements made
under “Market” above, statements about our liquidity and our debt and discussions with our creditors, risks and uncertainties relating to the COVID-19 pandemic 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. Such risks, uncertainties, contingencies and other factors could cause actual events to differ materially from the expectations expressed or implied by the forward-looking
statements included herein. 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 payments from our JVs to us, the risk that our customers do
not comply with their contractual obligations, risks relating to industry conditions and tendering activity, risks relating to contracting, including our ability to convert LOIs and LOAs into contracts, the risk that options will not be
exercised, risks relating to our ability to secure contracts for our rigs and the rates that we will be able to achieve, risks relating to market trends, tender activity and rates, risks relating to the agreements we have reached with
lenders, risks relating to our liquidity, that our available liquidity is not sufficient to meet our liquidity requirements and other risks relating to our available liquidity and 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 including debt service obligations and maturities and new-build contract payments in 2023 and our other
obligations and other risks described in our working capital statement included in our most recent audited financial statements, 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.
Modern Fleet & Strong Operational Team … Modern Fleet & Global Presence Financial Results
Source: Company dataRigs in Mexico operated through a joint venture Contracted Available UnderConstruction 28 Total Rig
count 6 17 5 5 5 3 1 3 1 5 5 +36M 68.9 32.4 +16M 20.1 3.7 4% 45.6 47.4 33% 73 54.8 Revenue Opex EBITDA Cash Q2 Q3 3
KEY FINANCIALS Q3 2021 Revenues increased by $18.2 million or 33% in comparison to the prior quarter
primarily as a result of an increase in related party revenues and number of rig operating daysRig operating and maintenance expenses decreased by $1.8 million in comparison to the prior quarterTotal financial expenses reflects the
relatively low capital cost of the Company’s debt, at an average interest rate of 4.7% YTDAdjusted EBITDA increased by $16.3 million quarter on quarterCash increased by $36.5 million in comparison to the prior quarter and is driven by:Cash
used in operations of $7.0 million which includes interest payments of $11.2 millionCash from investing activities was $43.5 million, consisting of repayments from equity method investments (the Mexico JVs) of $38.7 million, and disposal of
equity method investments of $10.6 million, offset by additions to jack-up rigs of $5.8 million. INCOME STATEMENT BALANCE SHEET USDm YTD 2021 Q3 2021 Q2 2021 Q1 2021 Operating revenues 176.2 73.0 54.8 48.4 Rig operating
and maintenance expenses (141.8) (45.6) (47.4) (48.8) G&A (27.2) (7.7) (7.8) (11.7) Total operating expenses (252.2) (81.7) (81.6) (88.9) Operating loss (75.3) (8.7) (26.0) (40.6) Income/(loss) from equity
method investments 14.1 3.8 (5.7) 16.0 Other non-operating income 3.6 3.6 - - Total financial expenses net (83.3) (26.6) (29.2) (27.5) Net loss (146.9) (32.6) (59.9) (54.4) Adjusted EBITDA 13.0 20.0
3.7 (10.7) Balance sheet (USDm) Q3 2021 Q2 2021 Q1 2021 Total assets 3,108 3,142 3,173 Total liabilities 2,173 2,174 2,145 Total equity 936 968 1,028 Cash and cash equivalents 69 32 49
FLEET STATUS NOVEMBER 2021 Source: Company’s Fleet Status Report 5
POSITIVE MARKET FUNDAMENTALS OIL PRICE AT 5 YEAR HIGH OIL INVENTORIES AT 5 YEAR LOW Source:
Bloomberg, Brent Crude (CO1)Source: IEA, OECD total industry crude stock US$/bbl OECD Crude Stock (mbbl) 6
DELIVERING CONTRACTS BORR’S ACTIVE FLEET REACHING PRE-COVID LEVELS BACKLOG INCREASING Source:
IHS Petrodata, Company data # of contracted rigs 42% increase 2079 days 6330 days Backlog Days (Firm Term) 173 days per contracted rig 372 days per contracted rig 7
WELL POSITIONED TO CAPTURE THE UPSIDE UTILIZATION IS UP … TIGHTENING MODERN FLEET
AVAILABILITY Source: IHS Petrodata, Company dataModern rigs represented as rigs built after year 2000 Utilization % Borr - ~20% of the preferred rig supply Borr - 5 Borr - 6 Rigs # 8
IN CONCLUSION First milestone reached with regards to extending the 2023 debt maturities and
commitments Borr Drilling is increasingly well positioned to capitalise on the upturn The Company had ten rigs available in Q2 – now reduced to six Activating Ran, Gerd, Groa and Mist for contracts – 17 rigs currently committed Cash
balance doubled from Q2 to Q3
