Borr Drilling Limited · NYSE:BORR
Borr Drilling — Q3 2025 Earnings Presentation
11 slides from Borr Drilling's earnings presentation, Nov 6, 2025
Slide 1: Q3 2025 Presentation
Q3 2025 PRESENTATION November 06, 2025
Slide 2: Forward Looking Statement
Forward Looking Statement This announcement and related discussions include forward looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements do not reflect historical facts and may be identified by words such
Slide 3: Q3 2025 Company Overview and Highlights
Q3 2025 Company Overview and Highlights Highlights International Footprint and Diversified Portfolio Fleet Currently Youngest Fleet with Global Footprint 24 23 Modern Rigs Active Rigs 1 Adj. EBITDA Adj. EBITDA Margin1 Sustaining healthy North adjusted EBITDA $135.6M 48.9% Sea Asia 7 5 3 6 Mexico Afr
Slide 4: Key Financials Q3 2025
Key Financials Q3 2025 Quarterly Revenue progression ($M) 350 Related Party and BBC Revenue Management contract revenue Dayrate Revenues 300 271.9 277.1 263.1 267.7 20.3 26.7 250 234.0 37.2 241.6 25.5 8.9 9.4 220.6 11.7 27.4 12.8 216.6 35.7 200 35.8 12.1 6.8 7.6 Change Change In $ million Q3 2025 Q2
Slide 5: Fleet Overview
Fleet Overview 2025 YTD Contracting Statistics1 22 New Commitments 4,820+ Backlog Days $625M Added Backlog Revenue $130k Avg Dayrate2 1 New mutual contracts, LOIs and LOAs including mobilization and demobilization revenues (includes bareboat charter contracts adjusted to a gross dayrate-equivalent b
Slide 6: Delivering strong coverage at healthy rates
Delivering strong coverage at healthy rates Contract Coverage1 (%) 100% First half of 2026 nearly 80% covered 85% coverage 90% @ 145k/d 79% coverage Premium fleet and strong customer @ 139k/d relationships driving robust utilization 80% 70% 62% coverage Line of sight for additional H1 coverage @ 140
Slide 7: Utilization steady, upside catalyst forming
Utilization steady, upside catalyst forming Marketed Utilization Modern jack-up demand proving resilient 100% Utilization has held near 90% despite considerable headwinds 95% 93% 90% Middle East demand materializing 86% Aramco suspended units resuming activity; incremental 85% demand visible in the
Slide 8: In Conclusion
In Conclusion 1 Successfully navigating near term volatility; full year 2025 Adj. EBITDA between $455m - $470m 2 Modern jack-up demand has remained resilient; demand inflection materializing in key markets 3 Borr Drilling platform well positioned to benefit from market inflection 8
Slide 9: Appendix
oe Pea oa Borr “24 Drilling Appendix
Slide 10: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION (in US$ millions) Q3 2025 Q2 2025 Net income / (loss) 27.8 35.1 Depreciation of non-current assets 37.6 36.7 Loss from equity method investments 0.3 0.2 Total financial expense, net 58.6 56.4 Income tax expense 11.3 4.8 Adjusted EBITDA 135.6 133.2 Non-GAAP Financial Me
Slide 11: Built to Make a Difference
BUILT TO MAKE A DIFFERENCE Borr ” Drilling