Borr Drilling Limited Divests Mexican Joint Ventures

Borr Drilling Limited has entered into definitive agreements to divest its 51% equity interest in the Mexican joint ventures, Perfomex, to its local partner. This transaction will result in Borr Drilling fully divesting Perfomex, with the local partner becoming the sole owner. Borr Drilling will retain ownership of the three jack-up rigs (Galar, Gersemi, and Njord) currently operating with PEMEX and will continue participating in the underlying contracts through bareboat charter agreements, with largely unchanged economics. The company expects this divestment to simplify its corporate and operating structure in Mexico, strengthen its local partnership, and create a more efficient platform for future growth. The transaction is expected to close in September 2026, subject to customary closing conditions. Borr Drilling also noted its recent expansion in Mexico with the acquisition of five premium jack-up rigs through a 50/50 joint venture with the same local partner.