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Best BW OFFSHORE Viral borr drilling nigeria in preparation for subsequent drilling programs All long lead items have been purchased FPSO mooring was pre installed in December 2020 Drilling rig Borr Norve was mobilised to Port Gentil January 5th 2020 Well DTM 2H was spudded January 27th 2020 Feb 2020 10 borr drilling nigeria Shelf drilling fleet status report 30 04 2020 Shelf Drilling Resourceful LT Super 116 C 350 Chevron Nigeria Mar 2020 Oct 2020 Commenced contract in March 2020 Customer has one 6 month option Trident XIV BMC 300 IC 300 ExxonMobil Nigeria Feb 2020 Feb 2020 Customer has two 1 year options Trident VIII Modec 300 C35 300 Available Nigeria South East Asia International Association of Drilling Contractors Ote Enaibe DEPTHWIZE NIGERIA LIMITED Lagos Nigeria Ray Clayton DERRICK EQUIPMENT COMPANY Houston TX USA Remko Hinloopen DIAMOND OFFSHORE DRILLING Houston TX USA Richard Male DIAMOND OFFSHORE DRILLING Aberdeen United Kingdom Todd McCorriston DRILLFORM Calgary AB Canada Pat McDougall DRILLFORM Calgary AB Canada OFFSHORE DRILLING 12m Deepwater hangover Feb Apr Jun Aug OFFSHORE DRILLING Deepwater hangover We expect offshore contractors to benefit from improved opportunities like Chevron in Nigeria and ONGC in India we expect dayrates to be we prefer Borr Drilling and Odfjell Drilling Offshore Drilling DNB Markets vs OSEBX 12m Source Factset EQUITY RESEARCH 20 February 2020 Oilfield Services Equipment Americas United States Oil Late last week media reports TradeWinds surfaced that Borr Drilling is looking to acquire Transocean s jackup fleet While details remain largely unknown some reports point to 1 2B for the potential sale of Transocean s jackup fleet 10 rigs on the water and 5 newbuilds Given Borr s acquisition of two high spec jackups in late

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