PROSPECTUS SUPPLEMENT SUMMARY
This summary highlights key aspects of this offering and certain information contained elsewhere in this prospectus supplement and the accompanying prospectus and the documents incorporated by reference. This summary is not complete and does not contain all of the information that may be important to you or that you should consider before investing in our common shares. You should read carefully the other information included and incorporated by reference in this prospectus supplement and the accompanying prospectus before investing in our common shares. You should pay special attention to the risks and uncertainties identified under the captions “Risk Factors,” “Special Note Regarding Forward-Looking Statements” and elsewhere in this prospectus supplement, the accompanying prospectus and any documents incorporated by reference herein or therein, including our 2024 Form 20-F, our financial statements and the exhibits to the registration statement of which this prospectus supplement is a component, when determining whether an investment in our common shares is appropriate for you.
Borr Drilling Limited
Our Company
We are an offshore shallow-water drilling contractor providing worldwide offshore drilling services to the oil and gas industry. Our primary business is the ownership, contracting and operation of jack-up rigs for operations in shallow-water areas (i.e., in water depths up to approximately 400 feet), including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production customers. We own 24 premium jack-up rigs all of which were delivered from the yard in 2000 or later, of which two were delivered in 2024.
Further details concerning our business, including information with respect to our rigs, operations and history, are provided in our 2024 Form 20-F and the other documents incorporated by reference into this prospectus supplement and accompanying prospectus. See “Incorporation of Documents by Reference.” You are encouraged to thoroughly review the documents incorporated by reference into this prospectus supplement as they contain important information concerning our business and our prospects.
Our Corporate Information
Borr Drilling Limited was incorporated in Bermuda on August 8, 2016, pursuant to the Companies Act 1981 of Bermuda, as an exempted company limited by shares. On December 19, 2016, our common shares were introduced to the Norwegian OTC market and on August 30, 2017, our common shares were listed on the Oslo Stock Exchange. On July 31, 2019, our common shares were listed on the New York Stock Exchange under the symbol “BORR.”
On December 30, 2024, we delisted our common shares from the Oslo Stock Exchange and as such, we currently maintain a listing of our common shares only on the New York Stock Exchange.
Our principal executive offices are located at S. E. Pearman Building, 2nd Floor, 9 Par-la-Ville Road, Hamilton HM11, Bermuda and our telephone number is +1 (441) 542-9234. Our corporate website address is www.borrdrilling.com. Information contained on, or accessible through, our website is not a part of this prospectus. We have included our website address in this prospectus solely as an inactive textual reference.
Recent Developments
Management and Board Updates
On July 2, 2025, the Company announced that pursuant to a multi-year succession planning process, the Company’s Board of Directors has reached a unanimous decision to appoint Chief Commercial Officer Bruno Morand as successor to Chief Executive Officer Patrick Schorn, effective September 1, 2025.
At the time of the transition, Mr. Schorn will become Executive Chair of the Company’s Board of Directors, while current Chairman Tor Olav Trøim will continue to serve as a Director of the Board. Additionally, current Director Dan Rabun will become Lead Independent Director, ensuring the continuity of independent and objective leadership on behalf of Borr Drilling’s shareholders.
Mr. Morand, who has served as Chief Commercial Officer at the Company since 2023, is a near-20-year veteran of the offshore drilling industry, having held management positions with international rig contractors in the areas of operational management, project management, marketing and customer relationship management. He originally joined Borr in 2017 and throughout his time at the Company has played an active role with the Company’s global portfolio of clients and strategic partners.