Borr Drilling Limited Announces Early Tender Results for Consent Solicitation and Tender Offer

Borr Drilling Limited, through its wholly-owned subsidiary Borr IHC Limited, has announced the early tender results for its previously announced offer to purchase for cash its outstanding 10.000% Senior Secured Notes due 2028 and 10.375% Senior Secured Notes Due 2030. The company also announced the results of a related solicitation of consents to proposed amendments to the existing indenture. As of the early tender deadline, a significant portion of both note series was tendered, with 95.92% of the 2028 Notes and 90.56% of the 2030 Notes validly tendered. Due to the high participation, Borr Drilling intends to redeem all remaining outstanding notes of each series. Supplemental indentures have been executed to implement the proposed amendments, which include removing covenants and releasing liens on collateral. These amendments will become effective upon the Early Settlement Date, expected on June 10, 2026, provided settlement conditions are met. Holders who tendered early are eligible for specific consideration amounts, with a final settlement date to follow the expiration of the offer period on June 24, 2026.