Funds managed by Orbis Investment Management Limited ("OIML") have participated
in the allocation of the Equity Offering by Borr Drilling Ltd ("Borr"), as
described in the statement published by Borr on the Oslo Stock Exchange on 22
January 2021 (the "Statement"). OIML is wholly-owned by Orbis Holdings Limited,
which is in turn majority-owned by Orbis Allan Gray Limited. Orbis Allan Gray
Limited is wholly-owned by Allan & Gill Gray Foundation.  

Based on the confirmation of allocation received on 22 January 2021
("Allocation"), the funds managed by OIML have subscribed for and been allocated
5,978,824 Offer Shares, as defined in the Statement. 

Before the Allocation, the funds managed by OIML and Allan Gray Australia Pty
Limited ("AGA", a manager indirectly controlled by Orbis Allan Gray Limited)
owned in aggregate 34,075,629 shares in Borr (including also convertible bonds
(ISIN: NO0010822935) counted on "as converted" basis) which constituted 15.47%
of total shares and votes in Borr based on 220,318,704 issued shares.

Following the Allocation and completion of the Equity Offering as further
described in the Statement, the funds managed by OIML and AGA will own in
aggregate 40,054,453 shares and votes in Borr which constitutes 14,59% of total
shares and votes in Borr. The foregoing calculations are based on 274,436,351
shares which will be Borr's outstanding and issued share capital following
completion of the Equity Offering. 

This information is subject to the disclosure requirements set out in section
4-3 of the Norwegian Securities Trading Act.

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