Form 6-K Borr Drilling Ltd For: Aug 11

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Exhibit 99.1

Borr Drilling Limited – Grant of Share Options and Performance Stock Units - Correction

Bermuda, August 11, 2022: The Board of Directors of Borr Drilling Limited (the "Company") (OSE and NYSE "BORR") has resolved to grant 4,000,000 options under the Company’s approved share option scheme to certain of its employees, including two persons discharging managerial responsibilities (“PDMRs”) as defined by the Market Abuse Regulation. The grant is to become effective on September 1, 2022, following a planned SGM and increase in the approved share capital.

Each share option gives the right to subscribe for one share in the Company. The options will vest over a three-and-a-half-year period and have strike prices as follows:

The options will expire after 1 September 2027.

The following PDMRs have been granted options:

In addition, Patrick Schorn has been awarded 500,000 Performance Stock Units (PSUs) that will all cliff vest on 01 September 2025 depending certain performance criteria linked to the closing share price. Full pay out of the award is subject to reaching $ 10.00 per share on 75% of the days in the third quarter of 2025, prior to the 1 September 2025.

Through this option grant and award of PSUs the board of directors aims to enhance the existing incentive rewards that create the optimum long-term alignment between the Company’s shareholders and management.

Please see the attached form of notification and public disclosure by primary insiders.

This information is subject to the disclosure requirements in article 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.

Exhibit 99.2

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Patrick Schorn
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3	Details of issuer
a)	Name	Borr Drilling Limited
b)	LEI	213800J2JPCTXLHQ5R78
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument   Identification code	Derivative, options for shares in Borr Drilling Limited (ISIN: BMG1466R1732)
b)	Nature of the transaction	Granting/acceptance of share options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		0.00	1,000,000
d)	Aggregated information —          Aggregated volume —          Price	1,000,000 options awarded for a price of $0.00, 1/3 with strike price $4.00, 1/3 with a strike price of $4.75 and 1/3 with a strike price of $5.50.
e)	Date of the transaction	11/8/2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Patrick Schorn
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3	Details of issuer
a)	Name	Borr Drilling Limited
b)	LEI	213800J2JPCTXLHQ5R78
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument   Identification code	Derivative, Performance Stock Units linked to the shares in Borr Drilling Limited (ISIN: BMG1466R1732)
b)	Nature of the transaction	Granting/acceptance of Performance Stock Units
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		0.00	500,000
d)	Aggregated information —          Aggregated volume —          Price	500,000 Performance Stock Units for a total of $0
e)	Date of the transaction	11/8/2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Magnus Vaaler
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3	Details of issuer
a)	Name	Borr Drilling Limited
b)	LEI	213800J2JPCTXLHQ5R78
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument   Identification code	Derivative, options for shares in Borr Drilling Limited (ISIN: BMG1466R1732)
b)	Nature of the transaction	Granting/acceptance of share options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		0.00	400,000
d)	Aggregated information —          Aggregated volume —          Price	400,000 options awarded for a price of $0.00, 1/3 with strike price $4.00, 1/3 with a strike price of $4.75 and 1/3 with a strike price of $5.50.
e)	Date of the transaction	11/08/2022
f)	Place of the transaction	Outside a trading venue