Borr Drilling Limited · NYSE:BORR
Borr Drilling — Q2 2026 Earnings Presentation
11 slides from Borr Drilling's earnings presentation, Aug 12, 2026
Slide 1: Q2 2026 Presentation
Q2 2026 PRESENTATION August 12, 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements These presentational materials 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
Slide 3: Q2 2026 Company Overview and Highlights
Q2 2026 Company Overview and Highlights Highlights Global Footprint and Diversified Portfolio Wholly Owned Fleet Currently Modern Fleet Remains the Youngest in Industry 29 24 Modern Rigs Active Rigs 2 Adj. EBITDA Adj. EBITDA Margin1 1 Q2 2026 Adjusted EBITDA $43.8M 22.4% Europe MENA 4 7 1 1 5 New De
Slide 4: Key Financials Q2 2026
Key Financials Q2 2026 Quarterly Revenue progression ($M) Related Party and BBC Revenue Dayrate Revenues Management contract revenue 277.1 263.1 267.7 259.4 241.6 20.3 26.7 247.0 25.5 8.9 9.4 23.6 232.3 27.4 12.8 216.6 10.8 26.6 10.9 32.9 In $ million Q2 2026 Q1 2026 Change ($) Change (%) 12.1 6.8 7
Slide 5: Refinancing of Substantially All Existing Debt
Refinancing of Substantially All Existing Debt YE25 Maturity Profile1 ($M) Current Maturity Profile2 ($M) 1,259 B 1049 A C 622 631 A C No significant maturity until 2032 347 D 144 144 150 146 72 102 102 102 43 51 B 2026 2027 2028 2029 2030 2031 2032 2033 2034 2026 2027 2028 2029 2030 2031 2032 2033
Slide 6: Fleet Overview
Fleet Overview 2026 YTD Contracting Statistics1 21 New Commitments 4,350+ Added Backlog Days $541M Added Backlog Revenue $123k Average Dayrate2 1 Contracting statistics based on the Company’s definition of “Dayrate Equivalent Backlog” included in the appendix; Contracting statistics exclude backlog
Slide 7: Contract Coverage and Market
Contract Coverage and Market Contract Coverage1 (%) Regional Markets Global modern utilization resilient at ~ 90% Middle East conflict impacting near-term utilization Suspended rigs returning to work Sizable tenders outstanding – delayed, but progressing Asia with incremental demand materializing Co
Slide 8: In Conclusion
In Conclusion 11 Profitability expected to recover as fleet transitions are largely completed Middle East reduces visibility – but cycle 2 fundamentals remain intact Well positioned to leverage expanded 3 premium jack-up fleet to drive earnings 8
Slide 9: Appendix
oe Pea oa Borr “24 Drilling Appendix
Slide 10: Adjusted EBITDA Reconciliation and Definitions
Adjusted EBITDA Reconciliation and Definitions (in US$ millions) Q2 2026 Q1 2026 Net income / (loss) (241.4) (29.0) Depreciation of non-current assets 43.5 42.5 Loss from equity method investments 0.3 1.2 Total financial expense, net 236.5 62.7 Income tax expense 10.9 11.1 Other non-operating income
Slide 11: Built to Make a Difference
BUILT TO MAKE A DIFFERENCE Borr ” Drilling