Slide 1: Q3 2021 Presentation
Q3 2021 PRESENTATION 05 November 2021
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This announcement includes forward looking statements. Forward looking statements are, typically, statements that do not reflect historical facts and may be identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "intends", "may", "should", "
Slide 3: Modern Fleet & Strong Operational Team
Modern Fleet & Strong Operational Team … Modern Fleet & Global Presence Financial Results 17 6 5 28 Total Rig count Q2 Q3 Under Contracted Available Construction Revenue 54.8 73 33% Opex 47.4 45.6 4% 3 5 1 EBITDA 3.7 20.1 +16M 5 5 3 1 5 Cash 32.4 68.9 +36M Source: Company data Rigs in Mexico operate
Slide 4: Key Financials Q3 2021
KEY FINANCIALS Q3 2021 INCOME STATEMENT • Revenues increased by $18.2 million or 33% in comparison to the prior quarter primarily as a USDm YTD 2021 Q3 2021 Q2 2021 Q1 2021 result of an increase in related party revenues and number of rig operating days Operating revenues 176.2 73.0 54.8 48.4 • Rig
Slide 5: Fleet Status November 2021
FLEET STATUS NOVEMBER 2021 2021 2022 2023 2024 Rig Name Location Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Premium Jack-Ups Gunnlod Malaysia PTTEP IPC Idun Malaysia Vestigo Petronas LOA Option Mist Malaysia ROC Oil Warm Stacked PTTEP Option Saga Malaysia JX Nippon PTTEP Hess Skald Thailand PTT
Slide 6: Positive Market Fundamentals
POSITIVE MARKET FUNDAMENTALS OIL PRICE AT 5 YEAR HIGH OIL INVENTORIES AT 5 YEAR LOW US$/bbl OECD Crude Stock (mbbl) 100 1,400 5 year range 5 year avg 90 1,350 2019 2020 80 2021 1,300 70 1,250 60 1,200 50 1,150 40 1,100 30 1,050 20 1,000 10 950 0 900 Source: Bloomberg, Brent Crude (CO1) Source: IEA,
Slide 7: Delivering Contracts
DELIVERING CONTRACTS BORR’S ACTIVE FLEET REACHING PRE-COVID LEVELS BACKLOG INCREASING # of contracted rigs Backlog Days (Firm Term) 20 7,000 18 42% increase 6330 days 18 17 6,000 16 14 5,000 12 12 4,000 10 3,000 8 2079 days 6 2,000 4 1,000 2 173 days per 372 days per contracted rig contracted rig 0
Slide 8: Well Positioned to Capture the Upside
WELL POSITIONED TO CAPTURE THE UPSIDE UTILIZATION IS UP … TIGHTENING MODERN FLEET AVAILABILITY Utilization % Rigs # 100% Marketed Util % Working Util % 95% Borr - ~20% of 90% 84% the preferred rig supply 85% 80% 77.5% 75.5% Borr - 5 75% 70% 65% Borr - 6 60% 55% 50% Source: IHS Petrodata, Company dat
Slide 9: In Conclusion
IN CONCLUSION Activating Ran, Gerd, Groa and Mist for contracts – 17 rigs currently committed The Company had ten rigs available in Q2 – now reduced to six Cash balance doubled from Q2 to Q3 First milestone reached with regards to extending the 2023 debt maturities and commitments Borr Drilling is i
Slide 10: Built to Make a Difference
BUILT TO MAKE A wt, Bo «Drilling DIFFERENCE — a veove