<SEC-DOCUMENT>0001140361-22-030003.txt : 20220817
<SEC-HEADER>0001140361-22-030003.hdr.sgml : 20220817
<ACCEPTANCE-DATETIME>20220817122040
ACCESSION NUMBER:		0001140361-22-030003
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20220817
FILED AS OF DATE:		20220817
DATE AS OF CHANGE:		20220817

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Borr Drilling Ltd
		CENTRAL INDEX KEY:			0001715497
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39007
		FILM NUMBER:		221172761

	BUSINESS ADDRESS:	
		STREET 1:		THISTLE HOUSE
		STREET 2:		4 BURNABY STREET
		CITY:			HAMILTON HM 11
		STATE:			D0
		ZIP:			0000
		BUSINESS PHONE:		4722483000

	MAIL ADDRESS:	
		STREET 1:		THISTLE HOUSE
		STREET 2:		4 BURNABY STREET
		CITY:			HAMILTON HM 11
		STATE:			D0
		ZIP:			0000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ny20004983x4_6k.htm
<DESCRIPTION>6-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Finanicial Soultions, Inc.
         Document created using Broadridge PROfile 22.7.2.5062
         Copyright 1995 - 2022 Broadridge -->
  </head>
<body style="font: 10pt Times New Roman, Times, Serif">
  <p style="margin: 0">&#160;</p>
  <p style="margin: 0"></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>
  <!-- Field: Rule-Page -->
  <div style="margin-top: 3pt; margin-bottom: 0pt" align="CENTER">
    <div style="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; width: 100%">&#160;</div>
  </div>
  <!-- Field: /Rule-Page -->
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>UNITED
        STATES</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SECURITIES
        AND EXCHANGE COMMISSION</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>WASHINGTON,
        D.C. 20549</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>
  <!-- Field: Rule-Page -->
  <div style="margin-top: 3pt; margin-bottom: 3pt" align="CENTER">
    <div style="font-size: 1pt; border-top: Black 1pt solid; width: 30%">&#160;</div>
  </div>
  <!-- Field: /Rule-Page -->
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>FORM
        6-K</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE</font> <font style="font: 10pt Times New Roman, Times, Serif"></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">SECURITIES EXCHANGE ACT OF 1934</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>August
        17, 2022</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>
  <!-- Field: Rule-Page -->
  <div style="margin-top: 3pt; margin-bottom: 3pt" align="CENTER">
    <div style="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&#160;</div>
  </div>
  <!-- Field: /Rule-Page -->
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commission
        File Number: 001-39007</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>
  <!-- Field: Rule-Page -->
  <div style="margin-top: 3pt; margin-bottom: 3pt" align="CENTER">
    <div style="font-size: 1pt; border-top: Black 1pt solid; width: 30%">&#160;</div>
  </div>
  <!-- Field: /Rule-Page -->
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Borr
        Drilling Limited</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>
  <!-- Field: Rule-Page -->
  <div style="margin-top: 3pt; margin-bottom: 3pt" align="CENTER">
    <div style="font-size: 1pt; border-top: Black 1pt solid; width: 30%">&#160;</div>
  </div>
  <!-- Field: /Rule-Page -->
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>S.E.
        Pearman Building</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">nd
        </sup>Floor 9 Par-la-Ville Road</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Hamilton
        HM11 Bermuda</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Address
        of principal executive offices)</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <table style="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif" border="0" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top">
        <td style="text-align: justify; width: 87%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate by check mark whether the registrant files or will file
            annual reports under cover of Form 20-F or Form 40-F</font></td>
        <td style="text-align: right; width: 13%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> Yes &#9746; No &#9744;</font></td>
      </tr>

  </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <table style="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif" border="0" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top">
        <td style="text-align: justify; width: 87%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate by check mark if the registrant is submitting the Form
            6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</font></td>
        <td style="text-align: right; width: 13%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> Yes &#9744; No &#9746;</font></td>
      </tr>

  </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <table style="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif" border="0" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top">
        <td style="text-align: justify; width: 87%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate by check mark if the registrant is submitting the Form
            6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</font></td>
        <td style="text-align: right; width: 13%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> Yes &#9744; No &#9746;</font></td>
      </tr>

  </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></font></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal"></font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
    </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INCORPORATION
        BY REFERENCE</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
      Form 6-K is hereby incorporated by reference into the registration statements of Borr Drilling Limited (the &#8220;Company&#8221;)
      on Form F-3 (Registration Number <a href="http://www.sec.gov/Archives/edgar/data/1715497/000114036121009361/nt10021886x1_f3.htm">333-254525</a> and Registration Number <a href="http://www.sec.gov/Archives/edgar/data/1715497/000114036122026959/ny20004585x1_f3asr.htm">333-266328)</a> and into each prospectus outstanding under the
      foregoing registration statements, to the extent not superseded by documents or reports subsequently filed or furnished by the
      Company under the Securities Act of 1933, or the Securities Exchange Act of 1934.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><u>Exhibits</u>&#160;</font></p>
  <table style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" cellpadding="0" cellspacing="0">

      <tr>
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td colspan="2" style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
      </tr>
      <tr>
        <td style="white-space: nowrap; vertical-align: top; width: 5%">
          <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><a href="ny20004983x4_ex1-1.htm"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</font></a></p>
          <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
        </td>
        <td style="vertical-align: bottom; width: 1%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="vertical-align: top">
          <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><a href="ny20004983x4_ex1-1.htm"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting Agreement, dated August 10, 2022,
                between the Company and DNB Securities, Inc.</font></a></p>
          <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; vertical-align: top; font-size: 10pt"><a href="ny20004983x4_ex5-1.htm"><font style="font-family: Times New Roman, Times, Serif;">5.1</font></a></td>
        <td style="vertical-align: bottom; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="vertical-align: top">
          <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><a href="ny20004983x4_ex5-1.htm"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal Opinion of MJM Limited</font></a></p>
          <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; vertical-align: top; font-size: 10pt"><a href="ny20004983x4_ex99-1.htm"><font style="font-family: Times New Roman, Times, Serif;">99.1</font></a></td>
        <td style="vertical-align: bottom; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="vertical-align: top; font-size: 10pt"><a href="ny20004983x4_ex99-1.htm"><font style="font-family: Times New Roman, Times, Serif;">Press release, dated August 17, 2022</font></a></td>
      </tr>

  </table>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal"></font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
    </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SIGNATURES
      </b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
      by the undersigned, thereunto duly authorized.&#160;</font></p>
  <table style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 41%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 8%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 5%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 46%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td colspan="2" style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;"><b>BORR DRILLING LIMITED</b></font></td>
      </tr>
      <tr>
        <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="font-size: 10pt; padding-left: 0.375in; padding-bottom: 2px;"><font style="font-family: Times New Roman, Times, Serif;">Date: August 17, 2022</font></td>
        <td style="font-size: 10pt; padding-bottom: 2px;"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="font-size: 10pt; padding-bottom: 2px;"><font style="font-family: Times New Roman, Times, Serif;">By:</font></td>
        <td style="border-bottom: 1px solid #000000;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Mi Hong Yoon</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="font-size: 10pt; padding-left: 0.375in;"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="font-size: 10pt;"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="font-size: 10pt;"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">Name:</font></td>
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;Mi Hong Yoon</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;</font></td>
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">Title:</font></td>
        <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif;">&#160;Director</font></td>
      </tr>

  </table>
  <p style="margin-top: 0; margin-bottom: 0">&#160;</p>
  <p style="margin-top: 0; margin-bottom: 0"></p>
  <!-- Field: Rule-Page -->
  <div style="margin-top: 3pt; margin-bottom: 3pt" align="LEFT">
    <div style="font-size: 1pt; border-top: Black 2pt solid; width: 100%">&#160;</div>
  </div>
  <!-- Field: /Rule-Page -->
  <p style="margin-top: 0; margin-bottom: 0">&#160;</p>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>ny20004983x4_ex1-1.htm
<DESCRIPTION>EX-1.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Finanicial Soultions, Inc.
         Document created using Broadridge PROfile 22.7.2.5062
         Copyright 1995 - 2022 Broadridge -->
  </head>
<body style="font: 10pt Times New Roman, Times, Serif">
  <p style="margin-top: 0; margin-bottom: 0">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></p>
  <!-- Field: Rule-Page -->
  <div style="margin-top: 3pt; margin-bottom: 3pt" align="CENTER">
    <div style="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&#160;</div>
  </div>
  <!-- Field: /Rule-Page -->
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Exhibit 1.1</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>
  <p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 18pt"><b>Borr Drilling Limited</b></font></p>
  <p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 14pt"><b>Common Shares, par value $0.10 per Share</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif"></font></p>
  <!-- Field: Rule-Page -->
  <div style="margin-top: 3pt; margin-bottom: 3pt" align="CENTER">
    <div style="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&#160;</div>
  </div>
  <!-- Field: /Rule-Page -->
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif"></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b><u>Underwriting Agreement</u></b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">August 10, 2022</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">DNB Markets, Inc.&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">As representative (the &#8220;Representative&#8221;) of the several Underwriters</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">named in Schedule I hereto</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <table style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top; text-align: justify">
        <td style="width: 0.5in; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">c/o</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">DNB Markets, Inc.,</font></td>
      </tr>

  </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">30 Hudson Yards, 81st Floor</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">New York, New York 10001</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Ladies and Gentlemen:</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Borr Drilling Limited, an exempted company limited by shares and
      registered in Bermuda (the &#8220;Company&#8221;), proposes, subject to the terms and conditions stated in this agreement (this &#8220;Agreement&#8221;), to issue and sell to the Underwriters named in Schedule I hereto (the &#8220;Underwriters&#8221;) an aggregate of 69,444,444 Common
      Shares, par value $0.10 per share (the &#8220;Common Shares&#8221;), of the Company (the &#8220;Firm Shares&#8221;) and, at the election of the Underwriters, up to 6,944,444 additional Common Shares (the &#8220;Optional Shares&#8221;). The Firm Shares and the Optional Shares that the
      Underwriters elect to purchase pursuant to Section 2 hereof are herein collectively called the &#8220;Shares&#8221;. The Company and its direct and indirect subsidiaries are herein called the &#8220;Company Entities&#8221; and each, a &#8220;Company Entity.&#8221;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company represents and warrants to, and agrees with, each
      of the Underwriters that:</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;An &#8220;automatic shelf registration statement&#8221; as defined
      under Rule 405 under the Securities Act of 1933, as amended (the &#8220;Act&#8221;) on Form F-3 (File No. 333-266328) (the &#8220;Initial Registration Statement&#8221;) in respect of the Shares and other securities has been filed with the Securities and Exchange Commission
      (the &#8220;Commission&#8221;) not earlier than three years prior to the date hereof; such Initial Registration Statement, and any post-effective amendment thereto, and, excluding exhibits to the Initial Registration Statement, but including all documents
      incorporated by reference in the prospectus included therein, have become effective with the Commission in such form; no other document with respect to the Initial Registration Statement or any document incorporated by reference therein has
      heretofore been filed, or transmitted for filing, with the Commission (other than prospectuses filed pursuant to Rule 424(b) under the Act, each in the form heretofore delivered to the Representative); and no stop order suspending the effectiveness
      of the Initial Registration Statement, any post-effective amendment thereto or any part thereof, has been issued and no proceeding for that purpose or pursuant to Section 8A of the Act has been initiated or, to the Company&#8217;s knowledge, threatened by
      the Commission, and no notice of objection of the Commission to the use of such registration statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Act has been received by the Company (the base prospectus filed as
      part of the Initial Registration Statement, in the form in which it has most recently been filed with the Commission on or prior to the date of this Agreement relating to the Shares, is hereinafter called the &#8220;Base Prospectus&#8221;; any preliminary
      prospectus (including any preliminary prospectus supplement) relating to the Shares filed with the Commission pursuant to Rule 424(b) under the Act is hereinafter called a &#8220;Preliminary Prospectus&#8221;; the various parts of the Initial Registration
      Statement, including all exhibits thereto and including any prospectus supplement relating to the Shares that is filed with the Commission and deemed by virtue of Rule 430B under the Act to be part of the Initial Registration Statement, each as
      amended at the time such part of the Initial Registration Statement became effective became or hereafter becomes effective, are hereinafter collectively called the &#8220;Registration Statement&#8221;; the Base Prospectus, as amended and supplemented immediately
      prior to the Applicable Time (as defined in Section 1(c) of this Agreement), is hereinafter called the &#8220;Pricing Prospectus&#8221;; the form of the final prospectus relating to the Shares filed with the Commission pursuant to Rule 424(b) under the Act in
      accordance with Section 5(a) hereof is hereinafter called the &#8220;Prospectus&#8221;; any reference herein to the Base Prospectus, the Pricing Prospectus, any Preliminary Prospectus or the Prospectus shall be deemed to refer to and include the documents
      incorporated by reference therein pursuant to Item 6 of Form F-3 under the Act, as of the date of such prospectus; any reference to any amendment or supplement to the Base Prospectus, any Preliminary Prospectus or the Prospectus shall be deemed to
      refer to and include any post-effective amendment to the Registration Statement, any prospectus supplement relating to the Shares filed with the Commission pursuant to Rule 424(b) under the Act and any documents filed under the Securities Exchange
      Act of 1934, as amended (the &#8220;Exchange Act&#8221;), and incorporated therein, in each case after the date of the Base Prospectus, such Preliminary Prospectus or the Prospectus, as the case may be; any reference to any amendment to the Registration
      Statement shall be deemed to refer to and include any annual report of the Company filed pursuant to Section 13(a) or 15(d) of the Exchange Act after the effective date of the Registration Statement that is incorporated by reference in the
      Registration Statement; any oral or written communication with potential investors undertaken in reliance on Rule 163B under the Act Section 5(d) of the Act by a Company Entity is hereinafter called a &#8220;Rule 163B Communication&#8221;; and any Rule 163B
      Communication that is a written communication within the meaning of Rule 405 under the Act is hereinafter called a &#8220;Rule 163B Writing&#8221;; and any bona fide roadshow presentation that is a written communication within the meaning of Rule 405 under the
      Act, or &#8220;issuer free writing prospectus&#8221; as defined in Rule 433 under the Act relating to the Shares is hereinafter called an &#8220;Issuer Free Writing Prospectus&#8221;);&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal"></font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;No order preventing or suspending the use of any
      Preliminary Prospectus or any Issuer Free Writing Prospectus has been issued by the Commission, and each Preliminary Prospectus, at the time of filing thereof, conformed in all material respects to the requirements of the Act and the rules and
      regulations of the Commission thereunder, and did not contain an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not
      misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with the Underwriter Information (as defined in Section 9(b) of this Agreement);</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;For the purposes of this Agreement, the &#8220;Applicable
      Time&#8221; is 2:30 a.m. (New York City time) on the date of this Agreement. The Pricing Prospectus, as supplemented by the information listed in Schedule II(c) hereto (as so supplemented, the &#8220;Pricing Disclosure Package&#8221;), as of the Applicable Time, did
      not, and as of each Time of Delivery (as defined in Section 4(a) of this Agreement) will not, include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the
      circumstances under which they were made, not misleading; and each Issuer Free Writing Prospectus and each Rule 163B Writing does not conflict with the information contained in the Registration Statement, the Pricing Prospectus or the Prospectus and
      each Issuer Free Writing Prospectus and each Rule 163B Writing, as supplemented by and taken together with the Pricing Disclosure Package as of the Applicable Time, did not, and as of each Time of Delivery will not, include any untrue statement of a
      material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply
      to statements or omissions made in reliance upon and in conformity with the Underwriter Information;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">2</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;[Reserved].</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Registration Statement, the Pricing Prospectus and
      the Prospectus conform, and any further amendments or supplements to the Registration Statement and any such prospectus will conform, in all material respects to the requirements of the Act and the rules and regulations of the Commission thereunder
      and do not and will not, as of the applicable effective date as to each part of the Registration Statement and as of the applicable filing date as to the Pricing Prospectus, Prospectus and any amendment or supplement thereto, and as of each Time of
      Delivery, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein (in the case of the Registration Statement) or necessary to make the statements therein, in light of the circumstances under which
      they were made, not misleading; the documents incorporated by reference in the Pricing Prospectus and the Prospectus, when they became effective or were filed with the Commission, as the case may be, conformed in all material respects to the
      requirements of the Act or the Exchange Act, as applicable, and the rules and regulations of the Commission thereunder, and none of such documents taken together with the Pricing Prospectus and the Prospectus contained an untrue statement of a
      material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and any further documents so filed and incorporated by reference in the Pricing Prospectus and the Prospectus
      or any further amendment or supplement thereto, when such documents are filed with the Commission will conform in all material respects to the requirements of the Act or the Exchange Act, as applicable, and the rules and regulations of the Commission
      thereunder and taken together with the Pricing Prospectus and the Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
      misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with the Underwriter Information;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(f)&#160;&#160;&#160;&#160; &#160;&#160;&#160;(A) (i) At the time of filing of the Initial
      Registration Statement, (ii) at the time of the most recent amendment thereto for the purposes of complying with Section 10(a)(3) of the Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Section 13 or
      15(d) of the Exchange Act or form of prospectus), (iii) at the time the Company or any person acting on its behalf (within the meaning, for this clause only, of Rule 163(c) under the Act) made any offer relating to the Shares in reliance on the
      exemption of Rule 163 under the Act, and (iv) and at the date hereof, the Company was and is a &#8220;well-known seasoned issuer&#8221; as defined in Rule 405 under the Act; and (B) at the time of filing the Registration Statement and any post-effective
      amendment thereto, at the earliest time thereafter that the Company or any offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) under the Act) of the Shares, and at the date hereof, the Company was not and is not an
      &#8220;ineligible issuer,&#8221; as defined in Rule 405 under the Act;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">3</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company has been since the time of the initial
      listing of its Common Shares on the New York Stock Exchange (the &#8220;Exchange&#8221;) and is an &#8220;emerging growth company&#8221; as defined in Section 2(a)(19) of the Act (an &#8220;Emerging Growth Company&#8221;);</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as described in the Pricing Prospectus and the
      Prospectus, there are no (i)&#160;preemptive rights or other rights to subscribe for or to purchase, nor any restriction upon the voting or transfer of, any equity interests in the Company Entities which give any party other than a Company Entity the
      right to acquire such equity interests or (ii)&#160;outstanding options or warrants to purchase any securities of the Company Entities. Neither the filing of the Registration Statement nor the offering or sale of the Shares as contemplated by this
      Agreement gives rise to any rights for or relating to the registration of any Common Shares or other securities of the Company; no holder of securities of the Company has rights to the registration of such securities under the Registration Statement;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(i)&#160;&#160;&#160;&#160; &#160;&#160;&#160;Each of the Company Entities has been (i) duly
      organized and is validly existing and in good standing under the laws of its jurisdiction of organization, with power and authority (corporate and other) to own, lease and operate its properties and conduct its business as described in the Pricing
      Prospectus and the Prospectus, and (ii) duly qualified as a foreign corporation for the transaction of business and is in good standing under the laws of each other jurisdiction in which it owns or leases properties or conducts any business so as to
      require such qualification, except, in the case of this clause (ii), where the failure to be so qualified or in good standing would not, individually or in the aggregate, have a Material Adverse Effect (as defined in Section 1(l) of this Agreement);
      and each material subsidiary of the Company has been listed in Exhibit 8.1 of the Annual Report on Form 20-F which is incorporated by reference into the Registration Statement, the Pricing Prospectus and the Prospectus;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(j)&#160;&#160; &#160;&#160;&#160;&#160;Except as disclosed in the Registration Statement, (i)
      the Company has all requisite power and authority to execute and deliver this Agreement and perform its obligations hereunder and (ii) the Company has all requisite corporate power and authority to issue, sell and deliver the Shares, in accordance
      with and upon the terms and conditions set forth in this Agreement and upon the terms set forth in the Pricing Disclosure Package and the Prospectus. At any Time of Delivery, all corporate actions required to be taken by the Company for the
      authorization, issuance, sale and delivery of the Shares and the consummation of the transactions contemplated by this Agreement to take place as of or prior to such Time of Delivery, shall have been validly taken;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;This Agreement has been duly authorized, executed and
      delivered by the Company;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(l)&#160;&#160;&#160;&#160;&#160; &#160;&#160;Except as disclosed in the Registration Statement,
      none of (i) the offering, issuance and sale by the Company of the Shares pursuant to the terms of this Agreement, (ii)&#160;the consummation of the transactions contemplated hereby or (iii) the application of the proceeds from the sale of the Shares as
      described under &#8220;Use of Proceeds&#8221; in the Pricing Disclosure Package and the Prospectus (A)&#160;conflicts or will conflict with or constitutes or will constitute a violation of the memorandum of association, bye-laws, certificate of incorporation or other
      organizational documents of the Company Entities (the &#8220;Organizational Documents&#8221;), (B)&#160;conflicts or will conflict with or constitutes or will constitute a breach or violation of, or a default (or an event that, with notice or lapse of time or both,
      would constitute such a default) under any indenture, contract, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which any of the Company Entities is a party or by which any of them or any of their respective
      properties may be bound, (C)&#160;violates or will violate any statute, law or regulation or any order, judgment, decree or injunction of any court, regulatory body (including the Oslo B&#248;rs), administrative agency, governmental body or arbitrator having
      jurisdiction over any of the Company Entities or any of their properties or assets in a proceeding to which any of them or their property is a party or (D)&#160;resulted, results or will result in the creation or imposition of any Lien upon any property
      or assets of any of the Company Entities, except, in the case of clauses (B), (C) and (D), that would not, individually or in the aggregate, have a Material Adverse Effect. As used in this Agreement, &#8220;Material Adverse Effect&#8221; shall mean any material
      adverse change or effect, or any development involving a prospective material adverse change or effect, in or affecting (i) the business, properties, general affairs, management, financial position, shareholders&#8217; equity or results of operations of
      the Company Entities, taken as a whole or (ii) the ability of the Company to perform its obligations under this Agreement, including the issuance and sale of the Shares, or to consummate the transactions contemplated in the Pricing Prospectus and the
      Prospectus.&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">4</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;No permit, consent, approval, authorization, order,
      registration, filing or qualification of or with any court, regulatory body, administrative agency, governmental body or arbitrator having jurisdiction over any of the Company Entities or any of their properties or assets is required in connection
      with (i)&#160;the offering or sale by the Company of the Shares, (ii)&#160;the execution, delivery and performance of this Agreement or the fulfillment of the terms hereof or thereof by the Company hereto or thereto or (iii)&#160;the consummation of any other
      transactions contemplated by this Agreement, except in each case (A) such as have been obtained under the Act, the approval by the Financial Industry Regulatory Authority (&#8220;FINRA&#8221;) of the underwriting terms and arrangements and such consents,
      approvals, authorizations, orders, registrations or qualifications as may be required under state securities or Blue Sky laws in connection with the purchase and distribution of the Shares by the Underwriters or (B) such consents that have been, or
      prior to the Closing Date will be, obtained;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;None of the Company Entities is (i) in violation of
      any of its Organizational Documents, (ii)&#160;in violation of any statute, law, rule or regulation or any order, judgment, decree or injunction of any court, regulatory body, administrative agency, governmental body or arbitrator having jurisdiction over
      it or any of its properties or assets or (iii) in breach, default (or an event that, with notice or lapse of time or both, would constitute such a default) or violation in the performance of any obligation, agreement or condition contained in any
      indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a party or by which it or any of its properties may be bound, except, in the case of clauses (ii) and (iii), for such violations, breaches or
      defaults that would not, individually or in the aggregate, have a Material Adverse Effect;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;On August 5, 2022, the Company issued a notice to
      convene a special general meeting of the shareholders of the Common Shares, to be held on August 16, 2022 (the &#8220;First Special Meeting&#8221;), in order to approve an increase in the Company&#8217;s authorized share capital from 180,000,000 to 220,000,000 Common
      Shares and on August 9, 2022 the Company announced the dates to convene a second special general meeting of the shareholders to be held on August 25, 2022 (the &#8220;Second Special Meeting&#8221; and together with the First Special Meeting, the &#8220;Special
      Meetings&#8221;) in order to approve an increase in the Company&#8217;s authorized share capital to 255,000,000 Common Shares. Upon approval of such increases at the Special Meetings, the Shares will be duly and validly authorized; at each Time of Delivery, the
      Shares will be duly and validly authorized and, when issued and delivered against payment therefor as provided herein, will be duly and validly issued and fully paid and non-assessable and will conform in all material respects to the description of
      the Common Shares contained in the Pricing Disclosure Package and the Prospectus;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">5</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(p)&#160;&#160;&#160;&#160;&#160;&#160;&#160;At the First Time of Delivery (as defined in Section
      4(a) of this Agreement), assuming no exercise of the option provided in Section 2, the issued and outstanding share capital of the Company will consist of 194,161,842 Common Shares. At the Second Time of Delivery (as defined in Section 4(a) of this
      Agreement), assuming no exercise of the option provided in Section 2, the issued and outstanding share capital of the Company will consist of 221,939,619 Common Shares. The Company has an authorized capitalization as set forth in the Pricing
      Prospectus and all of the issued Common Shares, have been duly and validly authorized and issued and are fully paid and non-assessable and conform to the description of the Common Shares contained in the Pricing Disclosure Package and the Prospectus;
      and all of the issued shares of capital stock of each subsidiary of the Company have been duly and validly authorized and issued, are fully paid and non-assessable and (except, in the case of any non-U.S. subsidiary, for directors&#8217; qualifying shares)
      are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims (&#8220;Liens&#8221;), except for such Liens or encumbrances described in the Pricing Prospectus and the Prospectus;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(q)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as set forth in the Pricing Disclosure Package
      and the Prospectus, no labor problem or dispute with the employees of any of the Company Entities exists, or, to the knowledge of the Company, is threatened or imminent, and the Company is not aware of any existing or imminent labor disturbance by
      the employees of any of the Company Entities&#8217; principal suppliers, contractors or customers except as would not, individually or in the aggregate, have a Material Adverse Effect;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(r)&#160;&#160;&#160;&#160; &#160;&#160;&#160;None of the Company Entities has, since the date of
      the latest financial statements included or incorporated by reference in the Pricing Prospectus, (i) sustained any material loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or
      from any labor dispute or court or governmental action, order or decree or (ii) entered into any transaction or agreement (whether or not in the ordinary course of business) that is material to the Company Entities taken as a whole or incurred any
      liability or obligation, direct or contingent, that is material to the Company Entities taken as a whole, in each case otherwise than as set forth or contemplated in the Pricing Prospectus; and, since the respective dates as of which information is
      given in the Registration Statement and the Pricing Prospectus, there has not been (x) any change in the number of issued Common Shares or other equity securities (other than as a result of (i) the exercise, if any, of share options or the award, if
      any, of shares options or restricted shares in the ordinary course of business pursuant to the Company&#8217;s equity plans that are described in the Pricing Prospectus and the Prospectus or (ii) the issuance, if any, of shares or other equity securities
      upon conversion of Company securities as described in the Pricing Prospectus and the Prospectus) or long-term debt of any of the Company Entities or (y) any Material Adverse Effect;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">6</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(s)&#160;&#160;&#160;&#160;&#160;&#160;&#160;The historical financial statements of the Company
      included or incorporated by reference in the Pricing Prospectus, the Prospectus and the Registration Statement, together with the related schedules and notes, present fairly the financial condition, results of operations and cash flows of the
      entities purported to be shown thereby and on the basis stated therein, as of the dates and for the periods indicated; such financial statements comply as to form with the applicable accounting requirements of Regulation S-X under the Act and have
      been prepared in conformity with generally accepted accounting principles in the United States applied on a consistent basis throughout the periods involved (except as otherwise noted therein); all disclosures contained in the Registration Statement
      and the Prospectus regarding &#8220;non-GAAP financial measures&#8221; (as such term is defined by the rules and regulations of the Commission) comply with Regulation G of the Exchange Act and Item 10 of Regulation S-K of the Act, to the extent applicable; the
      interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement and the Prospectus fairly present the information called for in all material respects and have been prepared in accordance
      with the Commission&#8217;s rules and guidelines applicable thereto;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(t)&#160;&#160;&#160;&#160; &#160;&#160;&#160;PricewaterhouseCoopers LLP, who have audited certain
      financial statements included or incorporated by reference in the Registration Statement, the Pricing Prospectus and the Prospectus and delivered their reports with respect thereto, are an independent registered public accounting firm with respect to
      the Company within the meaning of the Act and the applicable published rules and regulations thereunder and the rules and regulations of the Public Company Accounting Oversight Board;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(u)&#160;&#160;&#160;&#160;&#160;&#160;&#160;There is no (i)&#160;action, suit or proceeding before or
      by any court, arbitrator or governmental agency, body or official, domestic or foreign, now pending or, to the knowledge of the Company, threatened, to which any of the Company Entities is or may be a party or to which property of any of the Company
      Entities is or may be subject or, to the Company&#8217;s knowledge, to which any affiliate or director of the Company is or may be subject or that would be required to be disclosed in the Registration Statement, which is not disclosed in the Pricing
      Disclosure Package and Prospectus as required, (ii)&#160;statute, rule, regulation or order that has been enacted, adopted or issued by any governmental agency with respect to any Company Entity or (iii)&#160;injunction, restraining order or order of any
      nature issued by a federal or state court or foreign court of competent jurisdiction, to which any of the Company Entities is or may be subject or, to the Company&#8217;s knowledge, to which any affiliate or director of the Company is or may be subject,
      that, in the case of clauses&#160;(i), (ii)&#160;and (iii) above, could, individually or in the aggregate, (A)&#160;have a Material Adverse Effect, (B) prevent or result in the suspension of the offering and sale of the Shares or (C) in any manner draw into
      question the validity of this Agreement;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;As of the date hereof, the Company Entities do not,
      and at each Time of Delivery will not, own, any real property. As of each Time of Delivery, the Company Entities will have good title to all personal property described in the Pricing Disclosure Package or the Prospectus as owned by the Company
      Entities, and each relevant subsidiary of the Company holds, directly or indirectly, the interest in the applicable drilling rig or vessel (&#8220;Rig&#8221;) set forth opposite its name on Exhibit A, in each case free and clear of all Liens except (i) as
      described, and subject to the limitations contained, in the Pricing Disclosure Package, (ii) as do not materially affect the value of such property, taken as a whole, and do not materially interfere with the use of such properties, taken as a whole,
      as they have been used in the past and are proposed to be used in the future, as described in the Pricing Disclosure Package and the Prospectus, and (iii) any ship repairer&#8217;s or outfitter&#8217;s possessory lien (unless such a lien is prohibited under the
      terms of a Company Entity&#8217;s financing), any lien or master&#8217;s, officer&#8217;s or crew&#8217;s wages outstanding in the ordinary course of its trading and in accordance with usual maritime practice; liens for salvage, or any other lien arising by operation of law
      in the ordinary course of trading (and not as a result of any default or omission by a Company Entity) (the Liens described in clauses (i), (ii) and (iii) above being &#8220;Permitted Liens&#8221;); with respect to any interest in real property and buildings
      held under lease by Company Entities, such real property and buildings are held under valid and subsisting and enforceable leases (except as may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws
      relating to or affecting creditors&#8217; rights generally and by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law));&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">7</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(w)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each Rig is duly registered under the laws of the
      jurisdiction set forth on Exhibit A in the name of the applicable entity identified on Exhibit A, free and clear of all defects of the title of record; and all past and current taxes, impositions, duties, levies and other similar charges (&#8220;Taxes&#8221;)
      due with respect to each such Rig have been paid, and each such Rig is in good standing with respect to the payment of past and current Taxes, fees and other amounts payable under the laws of the jurisdiction where it is registered as would affect
      its registry with the ship registry of such jurisdiction, except as would not, individually or in the aggregate, have a Material Adverse Effect. Each Rig has been operated in compliance in all material respects with the rules, codes of practice,
      conventions, protocols, guidelines or similar requirements or restrictions imposed, published or promulgated by any governmental authority, classification society or insurer applicable to the respective Rig (collectively, &#8220;Maritime Guidelines&#8221;) and
      all applicable international, national, state and local conventions, laws, regulations, orders, licenses and other requirements (including, without limitation, all Environmental Laws (as defined in Section 1(b)(b) of this Agreement)). The relevant
      Company Entities are qualified to own or lease, as the case may be, and operate such Rigs under all applicable international, national, state and local conventions, laws, regulations, orders, licenses and other requirements (including, without
      limitation, all Environmental Laws) and Maritime Guidelines, including the laws, regulations and orders of each such Rig&#8217;s flag state, except for such qualifications as are not material in nature;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(x)&#160;&#160;&#160; &#160;&#160;&#160;&#160;Each of the Company Entities has filed all foreign,
      federal, state and local Tax returns that are required to be filed or has requested extensions thereof (except in any case where the financial statements are pending and therefore not able to be filed or in which the failure so to file would not have
      a Material Adverse Effect) and has paid all Taxes required to be paid by it and any other assessment, fine or penalty levied against it, to the extent that any of the foregoing is due and payable, except for any such assessment, fine or penalty that
      is currently being contested in good faith, for which appropriate reserves are maintained in accordance with U.S. generally accepted accounting principles, or as would not have a Material Adverse Effect;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(y)&#160;&#160;&#160; &#160;&#160;&#160;The Company Entities carry or are entitled to the
      benefits of insurance, with financially sound and reputable insurers, in such amounts and covering such risks as are generally maintained by companies of established repute engaged in the same or similar business, and all such insurance is in full
      force and effect. The Company Entities have no reason to believe that they will not be able to (i) renew their existing insurance coverage as and when such policies expire or (ii) obtain comparable coverage from similar institutions as may be
      necessary or appropriate to conduct their business as now conducted and at a cost materially similar to the current cost of such coverage;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">8</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(z)&#160;&#160;&#160;&#160;&#160;&#160;&#160;No subsidiary of the Company is currently prohibited,
      directly or indirectly, from paying any distributions to the Company, from making any other distribution on such subsidiary&#8217;s equity interests, from repaying to the Company any loans or advances to such subsidiary from the Company or from
      transferring any of such subsidiary&#8217;s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated by the Pricing Prospectus and the Prospectus;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(aa) &#160;&#160;Except as described in or contemplated by the Pricing
      Disclosure Package and the Prospectus, the Company Entities possess such permits, licenses, approvals, consents and other authorizations (collectively, &#8220;Governmental Licenses&#8221;) issued by the appropriate federal, state, local or foreign regulatory
      agencies or bodies necessary to conduct their business, except as would not, individually or in the aggregate, have a Material Adverse Effect; except as described in the Pricing Prospectus and the Prospectus, the Company Entities are in compliance
      with the terms and conditions of all such Governmental Licenses, except as would not, individually or in the aggregate, have a Material Adverse Effect; all of the Governmental Licenses are valid and in full force and effect; and the Company Entities
      have not received any notice of proceedings relating to the revocation or modification of any such Governmental Licenses, except as would not, individually or in the aggregate, have a Material Adverse Effect;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(bb) &#160;&#160;Each Company Entity (i) is in compliance in all material
      respects with any and all applicable foreign, federal, state and local laws and regulations relating to pollution or the protection of the environment or imposing liability or standards of conduct concerning the use, handling, storage or management
      of any Hazardous Materials (as defined herein) (&#8220;Environmental Laws&#8221;), (ii) has received all material permits required of it under applicable Environmental Laws to conduct their respective businesses as presently conducted (&#8220;Environmental Permits&#8221;),
      (iii)&#160;is in compliance in all material respects with all terms and conditions of any such permits and (iv) does not have any material liability in connection with any known or threatened release into the environment of any Hazardous Material. The
      term &#8220;Hazardous Material&#8221; means (A) any &#8220;hazardous substance&#8221; as defined in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, (B) any &#8220;hazardous waste&#8221; as defined in the Resource Conservation and Recovery
      Act, as amended, (C) any petroleum or petroleum product, (D) any polychlorinated biphenyl and (E) any hazardous, toxic chemical, material, waste or substance regulated under or within the meaning of any applicable Environmental Law. In the ordinary
      course of business, the Company periodically reviews the effect of Environmental Laws on the Company Entities&#8217; business, operations and properties, in the course of which it identifies and evaluates costs and liabilities that it believes are
      reasonably likely to be incurred pursuant to such Environmental Laws (including, without limitation, any capital or operating expenditures required for clean-up, closure of properties or compliance with Environmental Laws, or any permit, license or
      approval, any related constraints on operating activities and any potential liabilities to third parties). On the basis of such review, the Company has reasonably concluded that such associated costs and liabilities relating to the Rigs would not,
      individually or in the aggregate, have a Material Adverse Effect;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(cc) &#160;&#160;Except as would not, individually or in the aggregate,
      have a Material Adverse Effect, the Company Entities (i) own or possess, or can acquire on reasonable terms, adequate patents, patent rights, licenses, inventions, copyrights, know how (including trade secrets and other unpatented and/or unpatentable
      proprietary or confidential information, systems or procedures), trademarks, service marks, trade names or other intellectual property (collectively, &#8220;Intellectual Property&#8221;) necessary to carry on each of their business, and (ii) have not received
      any notice and are not otherwise aware of any infringement of or conflict with asserted rights of others with respect to any Intellectual Property or of any facts or circumstances that would render any Intellectual Property invalid or inadequate to
      protect the interests in the Company Entities;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">9</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(dd) &#160;&#160;No relationship, direct or indirect, exists between or
      among any Company Entity, on the one hand, and the directors, officers, shareholders, affiliates, customers or suppliers of any Company Entity, on the other hand, that is required to be described under the Act and rules and regulations thereunder in
      the Pricing Prospectus or the Prospectus but is not so described;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ee) &#160;&#160;There are no agreements, contracts, indentures, leases or
      other instruments that are required under the Act and rules and regulations thereunder to be described in the Registration Statement, the Pricing Prospectus or the Prospectus or to be filed as an exhibit to the Registration Statement that are not
      described or filed as required by the Act. The statements included in the Registration Statement, the Prospectus and the Pricing Prospectus insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein,
      are accurate summaries of such legal matters, agreements, documents or proceedings in all material respects;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ff) &#160;&#160;&#160;The Company is in compliance with all applicable
      provisions of the Sarbanes-Oxley Act of 2002, the rules and regulations promulgated in connection therewith and the rules and regulations of the Exchange that are effective and applicable to the Company;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(gg) &#160;The Company is not, and after giving effect to the
      offering and sale of the Shares and the application of the proceeds thereof as described in the Pricing Disclosure Package and the Prospectus, the Company will not be, an &#8220;investment company&#8221; or a company &#8220;controlled by&#8221; an &#8220;investment company,&#8221; each
      as defined in the Investment Company Act of 1940, as amended (the &#8220;Investment Company Act&#8221;);</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(hh) &#160;The Company is not a Passive Foreign Investment Company
      (&#8220;PFIC&#8221;) within the meaning of Section 1297 of the United States Internal Revenue Code of 1986, as amended, and based on the Company&#8217;s current and expected assets, income and operations as described in the Pricing Disclosure Package and the
      Prospectus, the Company believes that it is not likely to become a PFIC;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ii)&#160;&#160;&#160;&#160;&#160;The statements set forth in the Pricing Prospectus and
      the Prospectus under the caption &#8220;Description of Common Shares&#8221;, insofar as they purport to constitute a summary of the terms of the Shares, or under the captions &#8220;Item 4.B. Business Overview&#8212;Regulation&#8221;, &#8220;Item 7.B. Major Shareholders and Related
      Party Transactions&#8212;Related Party Transactions&#8221; and &#8220;Item 10.E. Additional Information&#8212;Taxation&#8221; in the Company&#8217;s Annual Report on Form 20-F, each, insofar as they purport to describe the provisions of the laws and documents referred to therein, and
      under the caption &#8220;Underwriting&#8221;, insofar as they purport to describe the provisions of the laws and documents referred to therein, are , in each case, accurate, complete and fair in all material respects;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(jj) &#160;&#160;&#160;None of the Company Entities has taken, directly or
      indirectly, any action designed to or that would constitute or that might reasonably be expected to cause or result in, stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">10</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(kk) &#160;&#160;No Company Entity nor any director, officer, nor to the
      knowledge of the Company, any agent, employee, affiliate or other person associated with or acting on behalf of any Company Entity, is aware of or has taken any action, directly or indirectly, (i) that would result in a violation by such Persons of
      applicable anti-corruption laws, including the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (collectively, the &#8220;FCPA&#8221;) and the Bribery Act 2010 of the United Kingdom (the &#8220;UK Bribery Act&#8221;), or (ii) in
      furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any &#8220;foreign official&#8221; (as such term is defined in the
      FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in order to obtain or retain business or otherwise secure an improper business advantage. The Company Entities and, to the knowledge of the
      Company, their affiliates have conducted their businesses in compliance with the FCPA, the UK Bribery Act and other applicable anti-corruption laws and have instituted and maintain policies and procedures that are reasonably designed to ensure, and
      that are reasonably expected to continue to ensure, continued compliance therewith;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ll) &#160;&#160;The operations of the Company Entities are and have been
      conducted at all times in compliance with, in each case to the extent applicable, the anti-money laundering statutes of all applicable jurisdictions, including but not limited to the Bank Secrecy Act of 1970, as amended by the USA PATRIOT ACT of
      2001, and the rules and regulations thereunder and any related or similar rules or regulations, issued, administered or enforced by any governmental agency (collectively, the &#8220;Anti-Money Laundering Laws&#8221;) and no action, suit or proceeding by or
      before any court or governmental agency, authority or body or any arbitrator involving any of the Company Entities with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the Company, threatened;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(mm) None of the Company Entities, nor, to the knowledge of the
      Company, any director, officer, agent, employee or affiliate of the Company Entities is currently the subject or the target of or engaged in any activities in violation of any applicable sanctions administered or enforced by the U.S. Government,
      including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury (&#8220;OFAC&#8221;), or the U.S. Department of State and including, without limitation, the designation as a &#8220;specially designated national&#8221; or &#8220;blocked
      person,&#8221; the European Union, Her Majesty&#8217;s Treasury, the United Nations Security Council, or other relevant sanctions authority (collectively, &#8220;Sanctions&#8221;); nor is any of the Company Entities located, organized, or resident in a country or territory
      that is the subject or target of Sanctions, and the Company will not directly or indirectly use the proceeds of the offering of the Shares, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or
      other person or entity, for the purpose of financing any activities of or with any person or entity, or in any country or territory that, at the time of such financing, is the subject of a Sanction or in any other manner that would result in a
      violation of Sanctions by any person (including any person participating in the transaction, whether as underwriter, advisor, investor or otherwise);</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(nn) &#160;Any statistical and market-related data included in the
      Registration Statement, the Pricing Prospectus, the Pricing Disclosure Package or the Prospectus are based on or derived from sources that the Company believes to be reliable and accurate;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">11</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(oo)&#160;&#160;&#160;None of the Company Entities has distributed or, prior to
      the later to occur of the last Time of Delivery and completion of the distribution of the Shares, will distribute any offering material in connection with the offering and sale of the Shares other than any Preliminary Prospectus, the Prospectus, any
      Issuer Free Writing Prospectus to which the Representative has consented in accordance with this Agreement, any other materials, if any, permitted by the Act, including Rule 134 or Rule 164 thereunder;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(pp) &#160;&#160;At the First Time of Delivery, 56,000,000 Shares will
      have been approved to be listed on the Exchange and at the Second Time of Delivery, the remaining 20,388,888 Shares will have been approved to be listed on the Exchange;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(qq) &#160;&#160;The Company maintains a system of internal control over
      financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that (i) complies with the applicable requirements of the Exchange Act, (ii) has been designed <font style="font-weight: normal">by the Company&#8217;s principal
        executive officer and principal financial officer, or under their supervision</font>, to provide reasonable assurance <font style="font-weight: normal">regarding the reliability of financial reporting and the</font> preparation of financial
      statements <font style="font-weight: normal">for external purposes in accordance</font> with generally accepted accounting principles and (iii) <font style="font-weight: normal">is sufficient to provide reasonable assurance that (A) transactions
        are executed in accordance with management&#8217;s general or specific authorization, (B) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain
        accountability for assets, (C) access to assets is permitted only in accordance with management&#8217;s general or specific authorization and (D) the recorded accountability for assets is compared with the existing assets at reasonable intervals and
        appropriate action is taken with respect to any differences</font>; <font style="font-weight: normal">the Company&#8217;s internal control over financial reporting is effective; and the Company is not aware of any material weaknesses in its internal
        control over financial reporting;</font></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(rr) &#160;&#160;Since the date of the latest audited financial statements
      included or incorporated by reference in the Pricing Prospectus, there has been no change in the Company&#8217;s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company&#8217;s internal
      control over financial reporting;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ss) &#160;&#160;The Company maintains disclosure controls and procedures
      (as such term is defined in Rule 13a-15(e) under the Exchange Act) that comply with the requirements of the Exchange Act; such disclosure controls and procedures have been designed to ensure that material information relating to the Company Entities
      is made known to the Company&#8217;s principal executive officer and principal financial officer by others within those entities; and such disclosure controls and procedures are effective;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(tt) &#160;&#160;&#160;No stamp or other issuance or transfer Taxes are payable
      by or on behalf of the Underwriters in connection with (A)&#160;the delivery of the Shares to the Underwriters in the manner contemplated herein or (B)&#160;the sale and delivery by the Underwriters of the Shares as contemplated herein;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(uu)&#160;&#160; There are no contracts, arrangements or understandings
      between any Company Entity and any person that would give rise to a valid claim against any Company Entity or any Underwriter for a brokerage commission, finder&#8217;s fee or other like payment in connection with the offering of the Shares;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(vv) &#160;&#160;(i) The information technology systems, equipment and
      software used by the Company Entities in their business (the &#8220;IT Assets&#8221;) (A) are adequate for the operation of the business of the Company Entities as currently conducted; (B) operate and perform in accordance with their documentation and functional
      specifications and otherwise as required by the Company Entities&#8217; business as currently conducted and (C) to the Company&#8217;s knowledge are free of any viruses, &#8220;back doors,&#8221; &#8220;Trojan horses,&#8221; &#8220;time bombs,&#8221; &#8220;worms,&#8221; &#8220;drop dead devices&#8221; or other software
      or hardware components that are designed or intended to interrupt use of, permit unauthorized access to, or disable, damage or erase any software, which could, individually or in the aggregate, have a Material Adverse Effect; (ii) the Company
      Entities have implemented commercially reasonable backup and disaster recovery technology processes consistent with applicable standard industry practices; and (iii) to the Company&#8217;s knowledge and except to the extent described in the Registration
      Statement, the Pricing Prospectus and the Prospectus, no person has gained unauthorized access to any IT Asset since the Company&#8217;s inception which would, individually or in the aggregate, have a Material Adverse Effect;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">12</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ww) &#160;(i) With regard to their receipt, collection, handling,
      processing, sharing, transfer, usage, disclosure, interception, security, storage and disposal of all data and information that identifies or relates to a distinct individual, including without limitation IP addresses, mobile device identifiers,
      geolocation information and website usage activity data, or that is directly linked to such information (collectively, &#8220;Personal and Device Data&#8221;), the Company Entities have operated in a manner compliant with all applicable laws and regulations
      (including the European Union General Data Protection Regulation or &#8220;GDPR&#8221;) (&#8220;Privacy Legal Obligations&#8221;), except, as would not individually or in the aggregate, have a Material Adverse Effect; (ii) the Company Entities have policies and procedures
      consistent with industry practices designed to ensure the Company Entities comply with such Privacy Legal Obligations, except, as would not individually or in the aggregate, have a Material Adverse Effect; (iii) the Company Entities maintain data
      security policies and procedures consistent with industry practices designed to protect the confidentiality, security, and integrity of Personal and Device Data and to prevent unauthorized use of and access to Personal and Device Data; (iv) the
      Company Entities have policies and procedures consistent with industry practices and contractual obligations to require third parties to which they provide any Personal and Device Data to maintain the privacy and security of such Personal and Device
      Data and to comply with Privacy Legal Obligations, except, as would not individually or in the aggregate, have a Material Adverse Effect; and (v) to the Company&#8217;s knowledge, there has been no unauthorized access to, or use or disclosure of, Personal
      and Device Data maintained by or for the Company Entities except in each case as would not individually or in the aggregate, have a Material Adverse Effect;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(xx)&#160;&#160;&#160;&#160;(i) Each employee benefit plan, within the meaning of
      Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (&#8220;ERISA&#8221;) that is subject to ERISA, for which the Company or any member of its &#8220;Controlled Group&#8221; (defined as any entity, whether or not incorporated, that is under
      common control with the Company within the meaning of Section 4001(a)(14) of ERISA or any entity that would be regarded as a single employer with the Company under Section 414(b),(c),(m) or (o) of the U.S. Internal Revenue Code of 1986, as amended
      (the &#8220;Code&#8221;)) would have any liability (each, a &#8220;Plan&#8221;) has been maintained in compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations, including but not limited to ERISA and the Code; (ii) no
      prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred with respect to any Plan, excluding transactions effected pursuant to a statutory or administrative exemption; (iii) for each Plan that is
      subject to the funding rules of Section 412 of the Code or Section 302 of ERISA, no Plan has failed (whether or not waived), or is reasonably expected to fail, to satisfy the minimum funding standards (within the meaning of Section 302 of ERISA or
      Section 412 of the Code) applicable to such Plan; (iv) no Plan is, or is reasonably expected to be, in &#8220;at risk status&#8221; (within the meaning of Section 303(i) of ERISA) and no Plan that is a &#8220;multiemployer plan&#8221; within the meaning of Section
      4001(a)(3) of ERISA is in &#8220;endangered status&#8221; or &#8220;critical status&#8221; (within the meaning of Sections 304 and 305 of ERISA) (v) the fair market value of the assets of each Plan exceeds the present value of all benefits accrued under such Plan
      (determined based on those assumptions used to fund such Plan); (vi) no &#8220;reportable event&#8221; (within the meaning of Section 4043(c) of ERISA and the regulations promulgated thereunder) has occurred or is reasonably expected to occur; (vii) each Plan
      that is intended to be qualified under Section 401(a) of the Code is so qualified, and nothing has occurred, whether by action or by failure to act, which would cause the loss of such qualification; (viii) neither the Company nor any member of the
      Controlled Group has incurred, nor reasonably expects to incur, any liability under Title IV of ERISA (other than contributions to the Plan or premiums to the Pension Benefit Guarantee Corporation, in the ordinary course and without default) in
      respect of a Plan (including a &#8220;multiemployer plan&#8221; within the meaning of Section 4001(a)(3) of ERISA); and (ix) none of the following events has occurred or is reasonably likely to occur: (1) a material increase in the aggregate amount of
      contributions required to be made to all Plans by the Company or its Controlled Group affiliates in the current fiscal year of the Company and its Controlled Group affiliates compared to the amount of such contributions made in the Company&#8217;s and its
      Controlled Group affiliates&#8217; most recently completed fiscal year; or (2) a material increase in the Company Entities&#8217; &#8220;accumulated post-retirement benefit obligations&#8221; (within the meaning of Accounting Standards Codification Topic 715-60) compared to
      the amount of such obligations in the Company Entities&#8217; most recently completed fiscal year, except in each case for clauses (i)-(ix) above as would not individually or in the aggregate have a Material Adverse Effect;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">13</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(yy) &#160;&#160;None of the Company Entities or their properties or
      assets has immunity under Bermuda, United Arab Emirates, U.S. federal or New York state law from any legal action, suit or proceeding, from the giving of any relief in any such legal action, suit or proceeding, from set-off or counterclaim, from the
      jurisdiction of any Bermuda, United Arab Emirates, U.S. federal or New York state court, from service of process, attachment upon or prior to judgment, or attachment in aid of execution of judgment, or from execution of a judgment, or other legal
      process or proceeding for the giving of any relief or for the enforcement of a judgment, in any such court with respect to their respective obligations, liabilities or any other matter under or arising out of or in connection herewith; and, to the
      extent that any of the Company Entities or any of its properties, assets or revenues may have or may hereafter become entitled to any such right of immunity in any such court in which proceedings arising out of, or relating to the transactions
      contemplated by this Agreement, may at any time be commenced, the Company has, pursuant to Section &#8206;20, waived, and it will waive, or will cause its subsidiaries to waive, such right to the extent permitted by law;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(zz) &#160;&#160;&#160;Any final judgment for a fixed or determined sum of
      money rendered by any U.S. federal or New York state court located in the State of New York having jurisdiction under its own laws in respect of any suit, action or proceeding against the Company based upon this Agreement would be declared
      enforceable against the Company by the courts of Bermuda, without reconsideration or reexamination of the merits;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(aaa) &#160;The choice of laws of the State of New York as the
      governing law of this Agreement is a valid choice of law under the laws of Bermuda and will be honored by the courts of the Bermuda, subject to the restrictions described under the caption &#8220;Enforceability of Civil Liabilities&#8221; in the Registration
      Statement, the Pricing Disclosure Package and the Prospectus. The Company has the power to submit, and pursuant to Section &#8206;18, has legally, validly, effectively and irrevocably submitted, to the personal jurisdiction of each New York state and
      United States federal court sitting in the City of New York and has validly and irrevocably waived any objection to the laying of venue of any suit, action or proceeding brought in such court;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">14</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(bbb) The indemnification and contribution provisions set forth
      in Section &#8206;9 do not contravene Bermuda law or public policy;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ccc) Except as disclosed in the Registration Statement, the
      Pricing Disclosure Package and the Prospectus, no approvals are currently required in Bermuda in order for the Company to pay dividends or other distributions declared by the Company to the holders of Common Shares. Under current laws and regulations
      of Bermuda and any political subdivision thereof, any amount payable with respect to the Common Shares upon liquidation of the Company or upon redemption thereof and dividends and other distributions declared and payable on the share capital of the
      Company may be paid by the Company in United States dollars or euros and freely transferred out of Bermuda, and no such payments made to the holders thereof or therein who are non-residents of Bermuda will be subject to income, withholding or other
      Taxes under laws and regulations of Bermuda or any political subdivision or Taxing authority thereof or therein and without the necessity of obtaining any governmental authorization in Bermuda or any political subdivision or Taxing authority thereof
      or therein;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ddd) The legality, validity, enforceability or admissibility
      into evidence of any of the Registration Statement, the Pricing Disclosure Package, the Prospectus, this Agreement or the Shares in any jurisdiction in which the Company is organized or does business is not dependent upon such document being
      submitted into, filed or recorded with any court or other authority in any such jurisdiction on or before the date hereof or that any Tax be paid in any such jurisdiction on or in respect of any such document;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(eee) A holder of the Shares and each Underwriter are each
      entitled to sue as plaintiff in the court of the jurisdiction of formation and domicile of the Company for the enforcement of their respective rights under this Agreement and the Shares and such access to such courts will not be subject to any
      conditions which are not applicable to residents of such jurisdiction or a company incorporated in such jurisdiction;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(fff) The Company is in compliance in all material respects with
      all applicable Norwegian securities laws and the rules and regulations of the Oslo B&#248;rs; and</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ggg) The Company is a &#8220;foreign private issuer&#8221; as defined in
      Rule 405 under the Act.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Any certificate signed by any officer of the Company and
      delivered to the Representative or counsel for the Underwriters in connection with the offering of the Shares shall be deemed a representation and warranty by the Company, as to matters covered thereby, to each Underwriter.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Subject to the terms and conditions herein set forth, (a) the
      Company agrees to issue and sell to each of the Underwriters, and each of the Underwriters agrees, severally and not jointly, to purchase from the Company, at a purchase price per share of $3.438, the number of Firm Shares set forth opposite the name
      of such Underwriter in Schedule&#160;I hereto and (b) in the event and to the extent that the Underwriters shall exercise the election to purchase Optional Shares as provided below, the Company agrees to issue and sell to each of the Underwriters, and
      each of the Underwriters agrees, severally and not jointly, to purchase from the Company, at the purchase price per share set forth in clause (a) of this Section&#160;2 (provided that the purchase price per Optional Share shall be reduced by an amount per
      share equal to any dividends or distributions declared by the Company and payable on the Firm Shares but not payable on the Optional Shares), that portion of the number of Optional Shares as to which such election shall have been exercised (to be
      adjusted by you so as to eliminate fractional shares) determined by multiplying such number of Optional Shares by a fraction, the numerator of which is the maximum number of Optional Shares which such Underwriter is entitled to purchase as set forth
      opposite the name of such Underwriter in Schedule I hereto and the denominator of which is the maximum number of Optional Shares that all of the Underwriters are entitled to purchase hereunder.&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">15</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Company hereby grants to the Underwriters the right to purchase at
      their election up to 6,944,444 Optional Shares, at the purchase price per share set forth in the paragraph above, provided that the purchase price per Optional Share shall be reduced by an amount per share equal to any dividends or distributions
      declared by the Company and payable on the Firm Shares but not payable on the Optional Shares. Any such election to purchase Optional Shares may be exercised only by written notice from you to the Company, given within a period of 30 calendar days
      after the date of this Agreement and setting forth the aggregate number of Optional Shares to be purchased and the date on which such Optional Shares are to be delivered, as determined by you but in no event earlier than the First Time of Delivery
      or, unless you and the Company otherwise agree in writing, earlier than two or later than ten business days after the date of such notice.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;Upon the authorization by you of the release of the Firm Shares,
      the several Underwriters propose to offer the Firm Shares for sale upon the terms and conditions set forth in the Pricing Prospectus and the Prospectus.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a) The Shares to be purchased by each Underwriter hereunder, in
      definitive or book-entry form, and in such authorized denominations and registered in such names as the Representative may request upon at least forty-eight hours&#8217; prior notice to the Company shall be delivered by or on behalf of the Company to the
      Representative, through the facilities of the Depository Trust Company (&#8220;DTC&#8221;), for the account of such Underwriter, against payment by or on behalf of such Underwriter of the purchase price therefor by wire transfer of Federal (same-day) funds to
      the account specified at least forty-eight hours in advance by the Company to the Representative. The time and date of such delivery and payment shall be, with respect to 41,666,667 of the Firm Shares, 9:30 a.m., New York City time, on August 17,
      2022. Such time and date for delivery of the 41,666,667 Firm Shares is herein called the &#8220;First Time of Delivery&#8221;. The time and date of delivery and payment shall be, with respect to the remaining 27,777,777 Firm Shares, 9:30 a.m. New York City time
      on August 26, 2022. Such date and time is herein called the &#8220;Second Time of Delivery&#8221;. The time and date of such delivery and payment shall be, with respect to the Optional Shares, such time and date as the Representative and the Company may agree
      upon in writing, which shall only occur after the First Special Meeting, and provided, that the relevant Special Meetings have approved the increase in the authorized share capital necessary to authorize issuance of such Optional Shares on such
      Optional Share Delivery Date and such time and delivery with respect to the Optional Share may be prior to the Second Delivery Date only to the extent that such number of Optional Shares to be delivered on such Optional Share Delivery Date (together
      with any Firm Shares to be delivered on the First Delivery Date) is less than 56,000,000. Each such time and date for delivery of the Optional Shares, if not the First Time of Delivery or the Second Time of Delivery is herein called the Optional
      Share Delivery Date. Each such time and date for delivery of the Firm Shares and the Optional Shares is herein called a &#8220;Time of Delivery&#8221;.&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">16</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;The documents to be delivered at each Time of Delivery by or on
      behalf of the parties hereto pursuant to Section&#160;8 hereof, including the cross receipt for the Shares and any additional documents requested by the Underwriters pursuant to Section&#160;8(n) hereof will be delivered at the offices of Baker Botts L.L.P.,
      700 K Street NW, Washington, DC 20001 (the &#8220;Closing Location&#8221;) or such other location as the Representative and the Company may agree upon in writing, and the Shares will be delivered at the office of DTC or its designated custodian, all at such Time
      of Delivery. A meeting will be held at the Closing Location at 4:00 P.M., New York City time, on the New York Business Day next preceding such Time of Delivery, at which meeting the final drafts of the documents to be delivered pursuant to the
      preceding sentence will be available for review by the parties hereto. For the purposes of this Section&#160;4, &#8220;New York Business Day&#8221; shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New
      York City are generally authorized or obligated by law or executive order to close.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.&#160;&#160;&#160;&#160; &#160;&#160;&#160;The Company agrees with each of the Underwriters:</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;To prepare the Prospectus in a form approved by you and to file
      such Prospectus pursuant to Rule 424(b) under the Act not later than the Commission&#8217;s close of business on the second business day following the execution and delivery of this Agreement, or, if applicable, such earlier time as may be required under
      the Act; to make no further amendment or any supplement to the Registration Statement, the Base Prospectus or the Prospectus prior to the last Time of Delivery which shall be disapproved by you promptly after reasonable notice thereof; to advise you,
      promptly after it receives notice thereof, of the time when any amendment to the Registration Statement has been filed or becomes effective or any amendment or supplement to the Prospectus has been filed and to furnish you with copies thereof; to
      file promptly all material required to be filed by the Company with the Commission pursuant to Rule 433(d) under the Act; to file promptly all reports and any definitive proxy or information statements required to be filed by the Company with the
      Commission pursuant Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of the Prospectus and for so long as the delivery of a prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Act) is required
      in connection with the offering or sale of the Shares; to advise you, promptly after it receives notice thereof, of the issuance by the Commission of any stop order or of any order preventing or suspending the use of any Preliminary Prospectus or
      other prospectus in respect of the Shares, of any notice of objection of the Commission to the use of the Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Act, of the suspension of the qualification
      of the Shares for offering or sale in any jurisdiction, of the initiation or threatening of any proceeding for any such purpose, or of any request by the Commission for the amending or supplementing of the Registration Statement or the Prospectus or
      for additional information; and, in the event of the issuance of any stop order or of any order preventing or suspending the use of any Preliminary Prospectus or other prospectus relating to the Shares or pursuant to Section 8A of the Act or
      suspending any such qualification, to promptly use its best efforts to obtain the withdrawal of such order and in the event of any such issuance of a notice of objection, promptly to take such steps including, without limitation, amending the
      Registration Statement or filing a new registration statement, at its own expense, as may be necessary to permit offers and sales of the Shares by the Underwriters (references herein to the Registration Statement shall include any such amendment or
      new registration statement);</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;If required by Rule 430B(h) under the Act, to prepare a form of
      prospectus in a form approved by you and to file such form of prospectus pursuant to Rule 424(b) under the Act not later than may be required by Rule 424(b) under the Act; and to make no further amendment or supplement to such form of prospectus
      which shall be disapproved by you promptly after reasonable notice thereof;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">17</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;Promptly from time to time to take such action as you may
      reasonably request to qualify the Shares for offering and sale under the securities laws of such jurisdictions as you may request and to comply with such laws so as to permit the continuance of sales and dealings therein in such jurisdictions for as
      long as may be necessary to complete the distribution of the Shares, provided that in connection therewith the Company shall not be required to qualify as a foreign corporation (where not otherwise required) or to file a general consent to service of
      process in any jurisdiction (where not otherwise required);</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;Prior to 10:00 a.m., New York City time, on the New York
      Business Day next succeeding the date of this Agreement (or such later time as may be agreed by the Company and the Representative) and from time to time, to furnish the Underwriters with written and electronic copies of the Prospectus in New York
      City in such quantities as you may reasonably request, and, if the delivery of a prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Act) is required at any time prior to the expiration of nine months after the time of
      issue of the Prospectus in connection with the offering or sale of the Shares and if at such time any event shall have occurred as a result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact
      or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made when such Prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Act) is
      delivered, not misleading, or, if for any other reason it shall be necessary during such same period to amend or supplement the Prospectus or to file under the Exchange Act any document incorporated by reference in the Prospectus in order to comply
      with the Act or the Exchange Act, to notify you and upon your request to file such a document and to prepare and furnish without charge to each Underwriter and to any dealer in securities as many written and electronic copies as you may from time to
      time reasonably request of an amended Prospectus or a supplement to the Prospectus which will correct such statement or omission or effect such compliance; and in case any Underwriter is required to deliver a prospectus (or in lieu thereof, the
      notice referred to in Rule 173(a) under the Act) in connection with sales of any of the Shares at any time nine months or more after the time of issue of the Prospectus, upon your request but at the expense of such Underwriter, to prepare and deliver
      to such Underwriter as many written and electronic copies as you may request of an amended or supplemented Prospectus complying with Section 10(a)(3) of the Act;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;To make generally available to its securityholders as soon as
      practicable (which may be satisfied by filing with the Commission&#8217;s Electronic Data Gathering Analysis and Retrieval System (&#8220;EDGAR&#8221;)), but in any event not later than sixteen months after the effective date of the Registration Statement (as defined
      in Rule 158(c) under the Act), an earnings statement of the Company and its subsidiaries (which need not be audited) complying with Section 11(a) of the Act and the rules and regulations of the Commission thereunder (including, at the option of the
      Company, Rule 158);</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;During the period beginning from the date hereof and continuing
      to and including the date 60 days after the date of the Prospectus, not to without the prior written consent of the Representative (i) offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise transfer or
      dispose of, directly or indirectly, or file with or confidentially submit to the Commission a registration statement under the Act relating to, the Common Shares or any securities of the Company that are substantially similar to the Common Shares,
      including but not limited to any options or warrants to purchase Common Shares or any securities that are convertible into or exchangeable for, or that represent the right to receive, Common Shares or any such substantially similar securities, or
      publicly disclose the intention to make any offer, sale, pledge, disposition or filing or (ii) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Shares or any such other
      securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Shares or such other securities, in cash or otherwise; provided, however, the Company may (A) issue and sell the Shares to be sold
      hereunder, (B) issue and sell Common Shares pursuant to, and file a registration statement on Form S-8 relating to any, employee benefit plan or equity incentive plans, including as a consequence of any grant, assignment and exercise of options
      thereunder, or grant options to purchase 7,000,000 Common Shares pursuant to such plans, and (C) issue Common Shares upon the conversion of securities or exercise of warrants or options described in the Registration Statement and outstanding as of
      the Applicable Time.&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">18</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(g)&#160;&#160;&#160;&#160;&#160;&#160;To pay the required Commission filing fees relating to the
      Shares within the time required by Rule 456(b)(1) under the Act without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r) under the Act;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(h)&#160;&#160;&#160;&#160;&#160;&#160;To use the net proceeds received by it from the sale of the
      Shares pursuant to this Agreement in the manner specified in the Pricing Prospectus under the caption &#8220;Use of Proceeds&#8221;;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;To use its best efforts to list the Shares on the Exchange;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Upon reasonable request of any Underwriter in writing, to
      furnish, or cause to be furnished, to such Underwriter an electronic version of the Company&#8217;s trademarks, servicemarks and corporate logo for use on the website, if any, operated by such Underwriter for the purpose of facilitating the on-line
      offering of the Shares (the &#8220;License&#8221;); provided, however, that the License shall be used solely for the purpose described above, is granted without any fee and may not be assigned or transferred; and</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(k)&#160;&#160;&#160;&#160;&#160;&#160;To promptly notify you if the Company ceases to be an Emerging
      Growth Company at any time prior to the later of (i) completion of the distribution of the Shares within the meaning of the Act and (ii) the last Time of Delivery.&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> 6.&#160;&#160;&#160;&#160;&#160; (a) &#160;&#160;&#160;The Company represents and agrees that, without the prior
      consent of the Representative, it has not made and will not make any offer relating to the Shares that would constitute a &#8220;free writing prospectus&#8221; as defined in Rule 405 under the Act; and each Underwriter represents and agrees that, without the
      prior consent of the Company and the Representative, it has not made and will not make any offer relating to the Shares that would constitute a free writing prospectus required to be filed with the Commission; any such free writing prospectus the use
      of which has been consented to by the Company and the Representative is listed on Schedule II(a) hereto.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;The Company has complied and will comply with the requirements
      of Rule 433 under the Act applicable to any Issuer Free Writing Prospectus, including timely filing with the Commission or retention where required and legending; and the Company represents that it has satisfied and agrees that it will satisfy the
      conditions under Rule 433 under the Act to avoid a requirement to file with the Commission any electronic road show;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(c) &#160;&#160;&#160;&#160;&#160;&#160;The Company agrees that if at any time following issuance of an
      Issuer Free Writing Prospectus or Rule 163B Writing any event occurred or occurs as a result of which such Issuer Free Writing Prospectus or Rule 163B Writing would conflict with the information in the Registration Statement, the Pricing Prospectus
      or the Prospectus or would include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances then prevailing, not misleading, the Company will give
      prompt notice thereof to the Representative and, if requested by the Representative, will prepare and furnish without charge to each Underwriter an Issuer Free Writing Prospectus, Rule 163B Writing or other document which will correct such conflict,
      statement or omission;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">19</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;The Company represents and agrees that (i) it has not engaged
      in, or authorized any other person to engage in, any Rule 163B Communications, other than Rule 163B Communications with the prior consent of the Representative with entities that are qualified institutional buyers as defined in Rule 144A under the
      Act or institutions that are accredited investors as defined in Rule 501(a) under the Act; and (ii) it has not distributed, or authorized any other person to distribute, any Rule 163B Writings, other than those distributed with the prior consent of
      the Representative that are listed on Schedule II(d) hereto; and the Company reconfirms that the Underwriters have been authorized to act on its behalf in engaging in Rule 163B Communications;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;Each Underwriter represents and agrees that any Rule 163B
      Communications undertaken by it were with entities that are qualified institutional buyers as defined in Rule 144A under the Act or institutions that are accredited investors as defined in Rule 501(a) under the Act;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.&#160;&#160;&#160;&#160;&#160; &#160;&#160;The Company covenants and agrees with the several Underwriters
      that the Company will pay or cause to be paid the following: (i) the fees, disbursements and expenses of the Company&#8217;s counsel and accountants in connection with the registration of the Shares under the Act and all other expenses in connection with
      the preparation, printing, reproduction and filing of the Registration Statement, the Base Prospectus, any Preliminary Prospectus, any Rule 163B Writing, any Issuer Free Writing Prospectus and the Prospectus and amendments and supplements thereto and
      the mailing and delivering of copies thereof to the Underwriters and dealers (including postage, air freight charges and charges for counting and packaging); (ii) the cost of printing or producing any Agreement among Underwriters, this Agreement, any
      Blue Sky memorandum, closing documents (including any compilations thereof) and any other documents in connection with the offering, purchase, sale and delivery of the Shares; (iii) all expenses in connection with the qualification of the Shares for
      offering and sale under state and other local securities laws as provided in Section 5(c) hereof, including the fees and disbursements of counsel for the Underwriters in connection with such qualification and in connection with the Blue Sky survey;
      (iv) all fees and expenses in connection with listing the Shares on the Exchange; (v) the filing fees incident to, and the fees and disbursements of counsel for the Underwriters in connection with, any required review by the Financial Industry
      Regulatory Authority (&#8220;FINRA&#8221;) of the terms of the sale of the Shares; (vi) the cost of preparing, printing, authentication, issuance and delivery of share certificates, if applicable, including any stamp or transfer Taxes in connection with the
      execution of this Agreement or the original issuance and sale of the Shares; (vii) the cost and charges of any transfer agent or registrar; and (viii) all other costs and expenses incident to the performance of its obligations hereunder which are not
      otherwise specifically provided for in this Section 7.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8.&#160;&#160;&#160;&#160;&#160; &#160;&#160;The obligations of the Underwriters hereunder, as to the Shares
      to be delivered at each Time of Delivery, shall be subject, in their discretion, to the condition that all representations and warranties and other statements of the Company herein are, at and as of the Applicable Time and such Time of Delivery, true
      and correct, the condition that the Company shall have performed all of its obligations hereunder theretofore to be performed, and the following additional conditions:</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;The Prospectus shall have been filed with the Commission
      pursuant to Rule&#160;424(b) under the Act within the applicable time period prescribed for such filing by the rules and regulations under the Act and in accordance with Section 5(a) hereof; all material required to be filed by the Company pursuant to
      Rule 433(d) under the Act shall have been filed with the Commission within the applicable time period prescribed for such filings by Rule 433; no stop order suspending the effectiveness of the Registration Statement or any part thereof shall have
      been issued and no proceeding for that purpose or pursuant to Section 8A of the Act shall have been initiated or threatened by the Commission and no notice of objection of the Commission to the use of the Registration Statement or any post-effective
      amendment thereto pursuant to Rule 401(g)(2) under the Act shall have been received; no stop order suspending or preventing the use of the Pricing Prospectus, Prospectus or any Issuer Free Writing Prospectus shall have been initiated or threatened by
      the Commission; and all requests for additional information on the part of the Commission shall have been complied with to your reasonable satisfaction;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">20</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;Baker Botts L.L.P., counsel for the Underwriters, shall have
      furnished to you such written opinion or opinions, dated such Time of Delivery, in form and substance satisfactory to you;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;MJM Limited, Bermuda counsel for the Company, shall have
      furnished to you their written opinion (a form of such opinion is attached as Annex II(a) hereto), dated such Time of Delivery, in form and substance satisfactory to you;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;Skadden, Arps, Slate, Meagher &amp; Flom (UK) LLP, U.S. counsel
      for the Company, shall have furnished to you their written opinions and letter (forms of such opinions and letter are attached as Annex II(b) hereto), dated such Time of Delivery, in form and substance satisfactory to you;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;Joseph Tobing, Head - Legal &amp; Contracts, of the Company,
      shall have furnished to you his written opinion (a form of such opinion is attached as Annex II(c) hereto), dated such Time of Delivery, in form and substance satisfactory to you;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Watson Farley &amp; Williams LLP, Liberia, Marshall Islands and
      Vanuatu counsel for the Company, shall have furnished to you their written opinion, dated such Time of Delivery, in form and substance satisfactory to you;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(g) &#160;&#160;&#160;&#160;&#160;Ogier, Cayman Islands counsel for the Company, shall have
      furnished to you their written opinion, dated such Time of Delivery, in form and substance satisfactory to you;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(h)&#160;&#160;&#160;&#160;&#160;&#160;On the date of the Prospectus at a time prior to the execution
      of this Agreement, at 9:30 a.m., New York City time, on the effective date of any post-effective amendment to the Registration Statement filed subsequent to the date of this Agreement and also at each Time of Delivery, (i) PricewaterhouseCoopers LLP
      shall have furnished to you a letter or letters, dated the respective dates of delivery thereof, in form and substance satisfactory to you, to the effect set forth in Annex I hereto (the executed copy of the letter delivered prior to the execution of
      this Agreement is attached as Annex I(a) hereto and a form of the letter to be delivered on the effective date of any post-effective amendment to the Registration Statement and as of each Time of Delivery is attached as Annex I(b) hereto) and (ii)
      the Chief Financial Officer of the Company shall have furnished to you a certificate dated the respective dates of delivery thereof, in form and substance satisfactory to you;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;(i) No Company Entity, taken together with all of the other
      Company Entities, shall have sustained since the date of the latest audited financial statements included or incorporated by reference in the Pricing Prospectus any loss or interference with its business from fire, explosion, flood or other calamity,
      whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Pricing Prospectus, and (ii) since the respective dates as of which information is
      given in the Pricing Prospectus there shall not have been any change in the Common Shares on share capital or long-term debt of any Company Entity or any change or effect, or any development involving a prospective change or effect, in or affecting
      (x) the business, properties, general affairs, management, financial position, shareholders&#8217; equity or results of operations of the Company Entities, taken as a whole, except as set forth or contemplated in the Pricing Prospectus and the Prospectus,
      or (y) the ability of the Company to perform its obligations under this Agreement, including the issuance and sale of the Shares, or to consummate the transactions contemplated in the Pricing Prospectus and the Prospectus, the effect of which, in any
      such case described in clause (i) or (ii), is in your judgment so material and adverse as to make it impracticable or inadvisable to proceed with the public offering or the delivery of the Shares being delivered at such Time of Delivery on the terms
      and in the manner contemplated in the Pricing Prospectus and the Prospectus;&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">21</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;On or after the Applicable Time there shall not have occurred
      any of the following: (i) a suspension or material limitation in trading in securities generally on the Exchange or the Oslo B&#248;rs; (ii) a suspension or material limitation in trading in the Company&#8217;s securities on the Exchange or the Oslo B&#248;rs; (iii)
      a general moratorium on commercial banking activities declared by either Norwegian, Federal or New York State authorities or a material disruption in commercial banking or securities settlement or clearance services in Norway or the United States;
      (iv) the outbreak or escalation of hostilities involving Norway or the United States or the declaration by the United States of a national emergency or war or (v) the occurrence of any other calamity or crisis or any change in financial, political or
      economic conditions in Norway or the United States or elsewhere, if the effect of any such event specified in clause (iv) or (v) in your judgment makes it impracticable or inadvisable to proceed with the public offering or the delivery of the Shares
      being delivered at such Time of Delivery on the terms and in the manner contemplated in the Pricing Prospectus and the Prospectus;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(k)&#160;&#160;&#160;&#160;&#160;&#160;The Shares to be sold at such Time of Delivery shall have been
      duly listed on the Exchange;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company shall have obtained and delivered to the
      Underwriters executed copies of an agreement from all directors, officers and shareholders of the Company listed on Schedule III hereto, substantially to the effect set forth in Annex III hereto in form and substance satisfactory to you;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(m)&#160;&#160;&#160;&#160;&#160;The Company shall have complied with the provisions of Section
      5(d) hereof with respect to the furnishing of prospectuses on the New York Business Day next succeeding the date of this Agreement; and</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(n)&#160;&#160;&#160;&#160;&#160;&#160;The Company shall have furnished or caused to be furnished to
      you at such Time of Delivery certificates of officers of the Company satisfactory to you as to the accuracy of the representations and warranties of the Company herein at and as of such Time of Delivery, as to the performance by the Company of all of
      its obligations hereunder to be performed at or prior to such Time of Delivery, as to such other matters as you may reasonably request, and the Company shall have furnished or caused to be furnished certificates as to the matters set forth in
      subsections (a) and (i) of this Section 8.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The obligations of the Company and the Underwriters hereunder, as to the
      Shares to be delivered at each Time of Delivery, shall be subject, to the following additional conditions:</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;On the First Date of Delivery the Company shall have obtained
      approval from its shareholders at the First Special Meeting to increase the authorized share capital of the Company to 220,000,000 Common Shares, and the Shares to be delivered on the First Date of Delivery shall otherwise be duly and validly
      authorized; on the Second Date of Delivery, the Company shall have obtained approval from its shareholders at the Second Special Meeting to increase the authorized share capital of the Company to 255,000,000 Common Shares, and the Shares to be
      delivered on the Second Date of Delivery and any Optional Share Delivery Date shall otherwise be duly and validly authorized, and&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">22</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(y)&#160;&#160;&#160; &#160;&#160;The Company shall have entered into binding term sheets or other
      binding agreements with all applicable lenders (or obtained written commitments from such lenders approved by the Company&#8217;s board of directors) with respect to the Refinancing (as such term is defined in the Prospectus) consistent with the
      description thereof in the Pricing Disclosure Package and the Prospectus no later than 9:00 a.m. ADT on August 16, 2022, the time of the First Special Meeting (the &#8220;Refinancing Condition&#8221;);</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">If the Company does not receive shareholder approval to increase its
      authorized share capital at the First Special Meeting, this Agreement will be terminated. If the Company obtains shareholder approval at the First Special Meeting but not the Second Special Meeting, the settlement for the Shares to be delivered on
      the First Delivery Date will be completed provided the Refinancing Condition is satisfied, but any further settlements, including the Second Date of Delivery and any Optional Share Delivery Date to occur after the First Date of Delivery, will not
      take place and this Agreement will be terminated on the date of the Second Special Meeting.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">9.&#160;&#160;&#160;&#160; &#160;&#160;&#160;(a) The Company will indemnify and hold harmless each
      Underwriter against any losses, claims, damages or liabilities, joint or several, to which such Underwriter may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise
      out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, the Base Prospectus, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or
      supplement thereto, any Issuer Free Writing Prospectus, any &#8220;roadshow&#8221; as defined in Rule 433(h) under the Act (a &#8220;roadshow&#8221;), any &#8220;issuer information&#8221; filed or required to be filed pursuant to Rule 433(d) under the Act or any Rule 163B Writing, or
      arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse each Underwriter for any legal or other
      expenses reasonably incurred by such Underwriter in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that the Company shall not be liable in any such case to the extent that any
      such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, the Base Prospectus, any Preliminary Prospectus, the Pricing
      Prospectus or the Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing Prospectus or any Rule 163B Writing, in reliance upon and in conformity with the Underwriter Information.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(b)<b>&#160;&#160;&#160;&#160;&#160;&#160;</b>Each Underwriter will indemnify and hold harmless the
      Company against any losses, claims, damages or liabilities to which the Company may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an
      untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, the Base Prospectus, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, or any Issuer
      Free Writing Prospectus, or any roadshow, or any Rule 163B Writing, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not
      misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement, the Base Prospectus, any Preliminary Prospectus, the
      Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing Prospectus, or any roadshow<b>, </b>or any Rule 163B Writing, in reliance upon and in conformity with the Underwriter Information; and will
      reimburse the Company for any legal or other expenses reasonably incurred by the Company in connection with investigating or defending any such action or claim as such expenses are incurred. As used in this Agreement with respect to an Underwriter
      and an applicable document, &#8220;Underwriter Information&#8221; shall mean the written information furnished to the Company by such Underwriter through the Representative expressly for use therein; it being understood and agreed upon that the only such
      information furnished by any Underwriter consists of the following information in the Pricing Prospectus and the Prospectus furnished on behalf of each Underwriter: information contained in the thirteenth, fourteenth and fifteenth paragraphs under
      the caption &#8220;Underwriting&#8221;.&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">23</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(c)<b>&#160;&#160;&#160;&#160;&#160;&#160;</b>Promptly after receipt by an indemnified party under
      subsection (a) or (b) of this Section&#160;9 of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify the indemnifying party in
      writing of the commencement thereof; provided that the failure to notify the indemnifying party shall not relieve it from any liability that it may have under the preceding paragraphs of this Section 9 except to the extent that it has been materially
      prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided further that the failure to notify the indemnifying party shall not relieve it from any liability that it may have to an indemnified party otherwise
      than under the preceding paragraphs of this Section 9. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to
      participate therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the
      indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to such indemnified party
      under such subsection for any legal expenses of other counsel or any other expenses, in each case subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation. No indemnifying
      party shall, without the written consent of the indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or
      contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all
      liability arising out of such action or claim and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act, by or on behalf of any indemnified party.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;If the indemnification provided for in this Section 9 is
      unavailable to or insufficient to hold harmless an indemnified party under subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party shall
      contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative benefits received by the
      Company on the one hand and the Underwriters on the other from the offering of the Shares. If, however, the allocation provided by the immediately preceding sentence is not permitted by applicable law, then each indemnifying party shall contribute to
      such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the Company on the one hand and the Underwriters on the other in connection with the
      statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the
      Underwriters on the other shall be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received by the Company bear to the total underwriting discounts and commissions received by the
      Underwriters, in each case as set forth in the table on the cover page of the Prospectus. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or
      alleged omission to state a material fact relates to information supplied by the Company on the one hand or the Underwriters on the other and the parties&#8217; relative intent, knowledge, access to information and opportunity to correct or prevent such
      statement or omission. The Company and the Underwriters agree that it would not be just and equitable if contribution pursuant to this subsection (d) were determined by pro rata allocation (even if the Underwriters were treated as one entity for such
      purpose) or by any other method of allocation which does not take account of the equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or
      liabilities (or actions in respect thereof) referred to above in this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or
      claim. Notwithstanding the provisions of this subsection (d), no Underwriter shall be required to contribute any amount in excess of the underwriting discount or commission applicable to the Shares purchased by such Underwriter hereunder. No person
      guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Underwriters&#8217; obligations in this subsection (d) to
      contribute are several in proportion to their respective underwriting obligations and not joint.&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">24</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(e)<b>&#160;&#160;&#160;&#160;&#160;&#160;</b>The obligations of the Company under this Section 9 shall
      be in addition to any liability which the Company may otherwise have and shall extend, upon the same terms and conditions, to each employee, officer and director of each Underwriter and each person, if any, who controls any Underwriter within the
      meaning of the Act and each broker-dealer or other affiliate of any Underwriter; and the obligations of the Underwriters under this Section 9 shall be in addition to any liability which the respective Underwriters may otherwise have and shall extend,
      upon the same terms and conditions, to each officer and director of the Company and to each person, if any, who controls the Company within the meaning of the Act.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10. &#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160; If any Underwriter shall default in its obligation to
      purchase the Shares that it has agreed to purchase hereunder at a Time of Delivery, you may in your discretion arrange for you or another party or other parties to purchase such Shares on the terms contained herein. If within thirty-six hours after
      such default by any Underwriter you do not arrange for the purchase of such Shares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to you to purchase such
      Shares on such terms. In the event that, within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Shares, or the Company notifies you that it has so arranged for the purchase of such Shares,
      you or the Company shall have the right to postpone such Time of Delivery for a period of not more than seven days, in order to effect whatever changes may thereby be made necessary in the Registration Statement or the Prospectus, or in any other
      documents or arrangements, and the Company agrees to file promptly any amendments or supplements to the Registration Statement or the Prospectus which in your opinion may thereby be made necessary. The term &#8220;Underwriter&#8221; as used in this Agreement
      shall include any person substituted under this Section with like effect as if such person had originally been a party to this Agreement with respect to such Shares.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;If, after giving effect to any arrangements for the purchase of
      the Shares of a defaulting Underwriter or Underwriters by you and the Company as provided in subsection (a) above, the aggregate number of such Shares which remains unpurchased does not exceed 10% of the aggregate number of all the Shares to be
      purchased at such Time of Delivery, then the Company shall have the right to require each non-defaulting Underwriter to purchase the number of Shares which such Underwriter agreed to purchase hereunder at such Time of Delivery and, in addition, to
      require each non-defaulting Underwriter to purchase its pro rata share (based on the number of Shares which such Underwriter agreed to purchase hereunder) of the Shares of such defaulting Underwriter or Underwriters for which such arrangements have
      not been made; but nothing herein shall relieve a defaulting Underwriter from liability for its default.&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">25</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;If, after giving effect to any arrangements for the purchase of
      the Shares of a defaulting Underwriter or Underwriters by you and the Company as provided in subsection (a) above, the aggregate number of such Shares which remains unpurchased exceeds 10% of the aggregate number of all of the Shares to be purchased
      at such Time of Delivery, or if the Company shall not exercise the right described in subsection (b) above to require non-defaulting Underwriters to purchase Shares of a defaulting Underwriter or Underwriters, then this Agreement (or, with respect to
      an Optional Share Delivery Date, the obligations of the Underwriters to purchase and of the Company to sell the Optional Shares to be delivered on such date) shall thereupon terminate, without liability on the part of any non-defaulting Underwriter
      or the Company, except for the expenses to be borne by the Company and the Underwriters as provided in Section 7 hereof and the indemnity and contribution agreements in Section 9 hereof; but nothing herein shall relieve a defaulting Underwriter from
      liability for its default.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11.&#160;&#160;&#160;&#160;&#160;&#160;The respective indemnities, agreements, representations,
      warranties and other statements of the Company and the several Underwriters, as set forth in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall remain in full force and effect, regardless of any
      investigation (or any statement as to the results thereof) made by or on behalf of any Underwriter or any controlling person of any Underwriter, or the Company, or any officer or director or controlling person of the Company, and shall survive
      delivery of and payment for the Shares.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12.&#160;&#160;&#160;&#160;&#160;&#160;If this Agreement shall be terminated pursuant to Section 10
      hereof, the Company shall not then be under any liability to any Underwriter except as provided in Sections 7 and 9 hereof; but, if for any other reason any Shares are not delivered by or on behalf of the Company as provided herein, the Company will
      reimburse the Underwriters through you for all out-of-pocket expenses approved in writing by you, including fees and disbursements of counsel, reasonably incurred by the Underwriters in making preparations for the purchase, sale and delivery of the
      Shares not so delivered, but the Company shall then be under no further liability to any Underwriter except as provided in Sections 7 and 9 hereof.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13.&#160;&#160;&#160;&#160;&#160;&#160;In all dealings hereunder, you shall act on behalf of each of
      the Underwriters, and the parties hereto shall be entitled to act and rely upon any statement, request, notice or agreement on behalf of any Underwriter made or given by DNB Markets, Inc. as the representative.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In accordance with the requirements of the USA Patriot Act (Title III of
      Pub. L. 107-56 (signed into law October 26, 2001)), the Underwriters are required to obtain, verify and record information that identifies their respective clients, including the Company, which information may include the name and address of their
      respective clients, as well as other information that will allow the Underwriters to properly identify their respective clients.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">All statements, requests, notices and agreements hereunder shall be in
      writing, and if to the Underwriters shall be delivered or sent by mail, telex or facsimile transmission to you as the Representative at: DNB Markets, Inc., 30 Hudson Yards, 81st Floor, New York, New York 10001, Attn: Compliance,
      compliance.marketsinc@dnb.no; if to the Company shall be delivered or sent by mail, telex or facsimile transmission to the address of the Company set forth on the cover of the Registration Statement, Attention: Secretary; provided, however, that any
      notice to an Underwriter pursuant to Section 9(c) hereof shall be delivered or sent by mail, telex or facsimile transmission to such Underwriter at its address set forth in its Underwriters&#8217; Questionnaire or telex constituting such Questionnaire,
      which address will be supplied to the Company by you on request; provided further that notices under subsection 5(f) shall be in writing, and if to the Underwriters shall be delivered or sent by mail, telex or facsimile transmission to you as the
      Representative at DNB Markets, Inc., 30 Hudson Yards, 81st Floor, New York, New York 10001, Attn: Compliance, compliance.marketsinc@dnb.no. Any such statements, requests, notices or agreements shall take effect upon receipt thereof.&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">26</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;This Agreement shall be binding upon, and inure solely to the
      benefit of, the Underwriters and the Company and, to the extent provided in Sections 9 and 11 hereof, the officers and directors of the Company and each person who controls the Company or any Underwriter, and their respective heirs, executors,
      administrators, successors and assigns, and no other person shall acquire or have any right under or by virtue of this Agreement. No purchaser of any of the Shares from any Underwriter shall be deemed a successor or assign by reason merely of such
      purchase.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;Time shall be of the essence of this Agreement. As used herein,
      the term &#8220;business day&#8221; shall mean any day when the Commission&#8217;s office in Washington, D.C. is open for business.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company acknowledges and agrees that (i) the purchase and
      sale of the Shares pursuant to this Agreement is an arm&#8217;s-length commercial transaction between the Company, on the one hand, and the several Underwriters, on the other, (ii) in connection therewith and with the process leading to such transaction
      each Underwriter is acting solely as a principal and not the agent or fiduciary of the Company, (iii) no Underwriter has assumed an advisory or fiduciary responsibility in favor of the Company with respect to the offering contemplated hereby or the
      process leading thereto (irrespective of whether such Underwriter has advised or is currently advising the Company on other matters) or any other obligation to the Company except the obligations expressly set forth in this Agreement and (iv) the
      Company has consulted its own legal and financial advisors to the extent it deemed appropriate. The Company agrees that it will not claim that the Underwriters, or any of them, has rendered advisory services of any nature or respect, or owes a
      fiduciary or similar duty to the Company, in connection with such transaction or the process leading thereto.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">17.&#160;&#160;&#160;&#160;&#160;&#160;&#160;This Agreement supersedes all prior agreements and
      understandings (whether written or oral) between the Company and the Underwriters, or any of them, with respect to the subject matter hereof.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>18.&#160;&#160;&#160;&#160;&#160;&#160;&#160;This Agreement and any transaction contemplated by this
        Agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to principles of conflict of laws that would result in the application of any other law than the laws of the State of New York. The
        Company agrees that any suit or proceeding arising in respect of this Agreement or any transaction contemplated by this Agreement will be tried exclusively in the U.S. District Court for the Southern District of New York or, if that court does not
        have subject matter jurisdiction, in any state court located in The City and County of New York and the Company agrees to submit to the jurisdiction of, and to venue in, such courts. </b>The Company has appointed Puglisi &amp; Associates, as its
      authorized agent (the &#8220;Authorized Agent&#8221;), upon whom process may be served in any such action arising out of or based on this Agreement, the transactions contemplated hereby or any alleged violation of the securities laws of the United States or any
      state in the United States which may be instituted in any New York court. Such appointment shall be irrevocable. The Company represents and warrants that the Authorized Agent has agreed to act as such agent for service of process and agrees to take
      any and all action, including the filing of any and all documents and instruments, that may be necessary to continue such appointment in full force and effect as aforesaid. Service of process upon the Authorized Agent and written notice of such
      service to the Company shall be deemed, in every respect, effective service of process upon the Company.&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">27</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-transform: uppercase"><b>19.&#160;&#160;&#160;&#160;&#160;&#160;The Company and each of the
        Underwriters hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. </b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">20.&#160;&#160;&#160;&#160;&#160;&#160;&#160;To the extent that the Company has or hereafter may acquire any
      immunity (sovereign or otherwise) from jurisdiction of any court of (i)&#160;Bermuda, or any political subdivision thereof, (ii)&#160;the United States or the State of New York, (iii)&#160;any jurisdiction in which it owns or leases property or assets or from any
      legal process (whether through service of notice, attachment prior to judgment, attachment in aid of execution, execution, set-off or otherwise) with respect to themselves or their respective property and assets or this Agreement, the Company hereby
      irrevocably waives such immunity in respect of its obligations under this Agreement to the fullest extent permitted by applicable law.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">21.&#160;&#160;&#160;&#160;&#160;&#160;&#160;This Agreement may be executed by any one or more of the
      parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including
      any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com) or other transmission method and any counterpart
      so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. An executed copy of this Agreement delivered by facsimile, email or other means of electronic transmission shall be deemed to have the
      same legal effect as delivery of an original executed copy of this Agreement.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">22.&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notwithstanding anything herein to the contrary, the Company is
      authorized to disclose to any persons the U.S. federal and state income tax treatment and tax structure of the potential transaction and all materials of any kind (including tax opinions and other tax analyses) provided to the Company relating to
      that treatment and structure, without the Underwriters imposing any limitation of any kind. However, any information relating to the tax treatment and tax structure shall remain confidential (and the foregoing sentence shall not apply) to the extent
      necessary to enable any person to comply with securities laws. For this purpose, &#8220;tax structure&#8221; is limited to any facts that may be relevant to that treatment.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">23. Recognition of the U.S. Special Resolution Regimes.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(a)&#160;&#160;&#160;&#160;&#160;&#160; In the event that any Underwriter that is a Covered Entity
      becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer from such Underwriter of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be
      effective under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States.&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">28</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(b) In the event that any Underwriter that is a Covered Entity or a BHC
      Act Affiliate of such Underwriter becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Underwriter are permitted to be exercised to no greater extent than such
      Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(c) As used in this section:</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#8220;BHC Act Affiliate&#8221; has the meaning assigned to the term &#8220;affiliate&#8221; in,
      and shall be interpreted in accordance with, 12 U.S.C. &#167; 1841(k).</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#8220;Covered Entity&#8221; means any of the following:</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(i) a &#8220;covered entity&#8221; as that term is defined in, and interpreted in
      accordance with, 12 C.F.R. &#167; 252.82(b);</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ii) a &#8220;covered bank&#8221; as that term is defined in, and interpreted in
      accordance with, 12 C.F.R. &#167; 47.3(b); or</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(iii) a &#8220;covered FSI&#8221; as that term is defined in, and interpreted in
      accordance with, 12 C.F.R. &#167; 382.2(b).</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#8220;Default Right&#8221; has the meaning assigned to that term in, and shall be
      interpreted in accordance with, 12 C.F.R. &#167;&#167; 252.81, 47.2 or 382.1, as applicable.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#8220;U.S. Special Resolution Regime&#8221; means each of (i) the Federal Deposit
      Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">If the foregoing is in accordance with your understanding, please sign
      and return to us counterparts hereof, and upon the acceptance hereof by you, on behalf of each of the Underwriters, this letter and such acceptance hereof shall constitute a binding agreement among each of the Underwriters and the Company.&#160;</font></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">29</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <table style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top; text-align: justify">
        <td></td>
        <td colspan="2"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Very truly yours,</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: justify">
        <td style="width: 50%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 3%;"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 47%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: justify">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td colspan="2"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Borr Drilling Limited</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: justify">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: justify">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left; vertical-align: bottom"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By: </font></td>
        <td style="border-bottom: Black 1pt solid">/s/ <font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Magnus Vaaler</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: justify">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name: Magnus Vaaler</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: justify">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Title: &#160;&#160;Chief Financial Officer</font></td>
      </tr>

  </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 188.65pt; text-align: justify; text-indent: 63.35pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Accepted as of the date hereof:</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">DNB Markets, Inc.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
  <table style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top; text-align: justify">
        <td style="text-align: left; vertical-align: bottom"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</font></td>
        <td colspan="2" style="border-bottom: 1pt solid Black; text-align: left;"><font style="font-family: Arial,Helvetica,sans-serif; font-size: 10pt;">/s/ <font style="font-family: Arial, Helvetica, Sans-Serif;">Theodore S. Jadick, Jr.</font> </font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: justify">
        <td style="width: 5%;"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 5%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name: </font></td>
        <td style="width: 40%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Theodore S. Jadick, Jr.</font></td>
        <td style="width: 50%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: justify">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Title: </font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">President</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>

  </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </font></p>
  <table style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top; text-align: justify">
        <td style="text-align: left; vertical-align: bottom"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</font></td>
        <td colspan="2" style="border-bottom: 1pt solid Black; text-align: left;"><font style="font-family: Arial,Helvetica,sans-serif; font-size: 10pt;">/s/ <font style="font-family: Arial, Helvetica, Sans-Serif;">Kristoffer N. Braaten</font> </font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: justify">
        <td style="width: 5%;"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 5%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name: </font></td>
        <td style="width: 40%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Kristoffer N. Braaten</font></td>
        <td style="width: 50%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: justify">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Title: </font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Associate Director</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>

  </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
  <p style="margin-top: 0; margin-bottom: 0"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">On behalf of each of the Underwriters</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">30</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in"></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
  <table style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: bottom">
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="font-weight: bold"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="font-weight: bold; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>SCHEDULE I</b></font></td>
        <td style="font-weight: bold; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Number of </b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Optional Shares </b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Total Number of</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>to be Purchased </b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Firm Shares </b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>if Maximum </b></font></td>
        <td style="font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td style="font-weight: bold; text-decoration: underline; text-align: center; padding-bottom: 1pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Underwriter</b></font></td>
        <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>to be Purchased</b></font></td>
        <td style="padding-bottom: 1pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Option Exercised</b></font></td>
        <td style="padding-bottom: 1pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
        <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Total</b></font></td>
        <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>&#160;</b></font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td style="width: 44%; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">DNB Markets, Inc. </font></td>
        <td style="width: 1%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 1%; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 15%; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">26,041,667</font></td>
        <td style="width: 1%; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 1%; color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 1%; color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 17%; color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2,604,167</font></td>
        <td style="width: 1%; color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 1%; color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 1%; color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="width: 15%; color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">28,645,834</font></td>
        <td style="width: 1%; color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Clarksons Securities, Inc. </font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">32,986,111</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3,298,611</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">36,284,722</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Pareto Securities AS </font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4,513,889</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">451,389</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4,965,278</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">ABG Sundal Collier ASA </font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2,083,333</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">208,333</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2,291,666</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Arctic Securities AS </font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2,777,778</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">277,778</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3,055,556</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Fearnley Securities, Inc. </font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">520,833</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">52,083</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">572,916</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SpareBank 1 Capital Markets AS </font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">520,833</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">52,083</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="color: #333333; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">572,916</font></td>
        <td style="color: #333333; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td style="padding-bottom: 1pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Cleaves Securities AS </font></td>
        <td style="padding-bottom: 1pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#8212;</font></td>
        <td style="padding-bottom: 1pt; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="padding-bottom: 1pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#8212;</font></td>
        <td style="padding-bottom: 1pt; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="padding-bottom: 1pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#8212;</font></td>
        <td style="padding-bottom: 1pt; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td style="padding-bottom: 2.5pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Total </font></td>
        <td style="padding-bottom: 2.5pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">69,444,444</font></td>
        <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="padding-bottom: 2.5pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6,944,444</font></td>
        <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="padding-bottom: 2.5pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">76,388,888</font></td>
        <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>
      <tr style="vertical-align: bottom">
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
        <td style="text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></td>
      </tr>

  </table>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">31</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: center; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>SCHEDULE II</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: center; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(a) &#160;&#160;&#160;&#160;Issuer Free Writing Prospectuses not included in the
      Pricing Disclosure Package</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0.25in; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Electronic net roadshow dated August 9, 2022</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(b) &#160;&#160;&#160;&#160;Additional documents incorporated by reference</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0.25in; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">None</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(c) &#160;&#160;&#160;&#160;Pricing information other than the Pricing Prospectus
      that comprise the Pricing Disclosure Package, orally conveyed prior to the Applicable Time:</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0.25in; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The public offering price per share for the Shares is
      $3.60</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0.25in; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The number of Firm Shares is 69,444,444</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0.25in; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The number of Optional Shares is 6,944,444.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(d)&#160;&#160;&#160;&#160;&#160;Rule 163B Writings</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0.25in; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Investor presentation dated August 9, 2022</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 63.35pt"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0.25in; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Term Sheet dated August 8, 2022&#160;</font></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">32</font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0; text-align: center; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>SCHEDULE III</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0; text-align: center; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Parties to Deliver Lock-Up Agreements:</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 58.5pt 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <table style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top">
        <td style="width: 4%"></td>
        <td style="width: 6%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1.</font></td>
        <td style="text-align: justify; padding-right: 1.8pt; width: 90%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Tor Olav Tr&#248;im</font></td>
      </tr>

  </table>
  <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></font></p>
  <table style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top">
        <td style="width: 4%"></td>
        <td style="width: 6%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2.</font></td>
        <td style="text-align: justify; padding-right: 1.8pt; width: 90%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">P&#229;l Kibsgaard</font></td>
      </tr>

  </table>
  <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>
  <table style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top">
        <td style="width: 4%"></td>
        <td style="width: 6%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3.</font></td>
        <td style="text-align: justify; padding-right: 1.8pt; width: 90%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Kate Blankenship</font></td>
      </tr>

  </table>
  <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>
  <table style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top">
        <td style="width: 4%"></td>
        <td style="width: 6%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.</font></td>
        <td style="text-align: justify; padding-right: 1.8pt; width: 90%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Neil Glass</font></td>
      </tr>

  </table>
  <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>
  <table style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top">
        <td style="width: 4%"></td>
        <td style="width: 6%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.</font></td>
        <td style="text-align: justify; padding-right: 1.8pt; width: 90%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Mi Hong Yoon</font></td>
      </tr>

  </table>
  <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>
  <table style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top">
        <td style="width: 4%"></td>
        <td style="width: 6%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.</font></td>
        <td style="text-align: justify; padding-right: 1.8pt; width: 90%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Patrick Schorn</font></td>
      </tr>

  </table>
  <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>
  <table style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top">
        <td style="width: 4%"></td>
        <td style="width: 6%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.</font></td>
        <td style="text-align: justify; padding-right: 1.8pt; width: 90%"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Magnus Vaaler</font></td>
      </tr>

  </table>
  <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal"></font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>EXHIBIT A</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>RIGS AND OWNERSHIP</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#160;</font></p>
  <table style="width: 90%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top">
        <td style="width: 8%; border: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>No.</b></font></td>
        <td style="width: 26%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vessel</b></font></td>
        <td style="width: 40%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Ownership</b></font></td>
        <td style="width: 26%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Flag
              Jurisdiction</b></font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;1.&#160;&#160;&#160;&#160;&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Frigg</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Jack-Up I Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;2.&#160;&#160;&#160;&#160;&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Saga</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Saga Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;3.&#160;&#160;&#160;&#160;&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gunnlod</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Gunnlod Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;4.&#160;&#160;&#160;&#160;&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Skald</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Skald Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;5.&#160;&#160;&#160;&#160;&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Idun</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Idun Limited</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vanuatu</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;6.&#160;&#160;&#160;&#160;&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mist</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Mist Limited</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vanuatu</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;7.&#160;&#160;&#160;&#160;&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gerd</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Gerd Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vanuatu</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;8.&#160;&#160;&#160;&#160;&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Groa</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Groa Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vanuatu</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;9.&#160;&#160;&#160;&#160;&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Natt</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Natt Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Panama</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Norve</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr West Africa Assets Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vanuatu</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Odin</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Odin (UK) Limited</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Galar</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Galar (UK) Limited</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Njord</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Njord (UK) Limited</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grid</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Grid (UK) Limited</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gersemi</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Gersemi (UK) Limited</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ran</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Ran (UK) Limited</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prospector 1</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prospector Rig 1 Contracting Company Limited</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vanuatu</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prospector 5</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prospector Rig 5 Contracting Company Limited</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vanuatu</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thor</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Jack-Up XXXII Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tivar</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Tivar Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vale</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Vale Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Heimdal</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Heimdal Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gyme</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Gyme Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Heidrun</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Heidrun Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">25.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hild</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Hild Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Huldra</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Huldra Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">27.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hermod</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Hermod Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</font></td>
      </tr>
      <tr style="vertical-align: top">
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">28.&#160; &#160;</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Var</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr Var Inc.</font></td>
        <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-bottom: 5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</font></td>
      </tr>

  </table>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial', Helvetica, Sans-Serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal"></font>&#160;</div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ANNEX III</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: right"><font style="font-family: Arial, Helvetica, Sans-Serif">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>[FORM OF LOCK-UP AGREEMENT]</b></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif">August [&#9679;], 2022</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif">DNB Markets, Inc.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif"></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;As Representative of the several Underwriters</font><br>
    <font style="font-family: Arial, Helvetica, Sans-Serif">&#160;</font></p>
  <table style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top; text-align: justify">
        <td style="width: 0in"></td>
        <td style="width: 0.5in; text-align: left"><font style="font-family: Arial, Helvetica, Sans-Serif">c/o</font></td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif">DNB Markets, Inc.,</font></td>
      </tr>

  </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Arial, Helvetica, Sans-Serif"></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">30 Hudson Yards, 81st Floor</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif"></font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">New York, New York 10001</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">Re: Borr Drilling Limited - Lock-Up Agreement</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif">Ladies and Gentlemen:</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-family: Arial, Helvetica, Sans-Serif">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">The undersigned understands that you, as a representative (the &#8220;Representative&#8221;), propose
      to enter into an Underwriting Agreement on behalf of the several Underwriters named in Schedule I to such agreement (collectively, the &#8220;Underwriters&#8221;), with Borr Drilling Limited, an exempted company limited by shares and registered in Bermuda (the
      &#8220;Company&#8221;), providing for a public offering of common shares, par value of $0.10 per share (the &#8220;Common Shares&#8221;) of the Company (the &#8220;Shares&#8221;) pursuant to a Registration Statement on Form F-3 filed with the Securities and Exchange Commission (the
      &#8220;SEC&#8221;).</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">In consideration of the agreement by the Underwriters to offer and sell the Shares, and of
      other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the undersigned agrees that, during the period beginning from the date of this Lock-Up Agreement and continuing to and including the date 60 days after
      the date set forth on the final prospectus used to sell the Shares (the &#8220;Lock-Up Period&#8221;), the undersigned shall not, and shall not cause or direct any of its affiliates to, (i) offer, sell, contract to sell, pledge, grant any option to purchase,
      lend or otherwise dispose of any Common Shares, or any options or warrants to purchase any Common Shares, or any securities convertible into, exchangeable for or that represent the right to receive Common Shares (such options, warrants or other
      securities, collectively, &#8220;Derivative Instruments&#8221;), including without limitation any such shares or Derivative Instruments now owned or hereafter acquired by the undersigned, (ii) engage in any hedging or other transaction or arrangement (including,
      without limitation, any short sale or the purchase or sale of, or entry into, any put or call option, or combination thereof, forward, swap or any other derivative transaction or instrument, however described or defined) which is designed to or which
      reasonably could be expected to lead to or result in a sale, loan, pledge or other disposition (whether by the undersigned or someone other than the undersigned), or transfer of any of the economic consequences of ownership, in whole or in part,
      directly or indirectly, of any Common Shares or Derivative Instruments, whether any such transaction or arrangement (or instrument provided for thereunder) would be settled by delivery of Common Shares or other securities, in cash or otherwise (any
      such sale, loan, pledge or other disposition, or transfer of economic consequences, a &#8220;Transfer&#8221;) or (iii) otherwise publicly announce any intention to engage in or cause any action or activity described in clause (i) above or transaction or
      arrangement described in clause (ii) above. The undersigned represents and warrants that the undersigned is not, and has not caused or directed any of its affiliates to be or become, currently a party to any agreement or arrangement that provides
      for, is designed to or which reasonably could be expected to lead to or result in any Transfer during the Lock-Up Period. For the avoidance of doubt, the undersigned agrees that the foregoing provisions shall be equally applicable to any
      issuer-directed or other Shares the undersigned may purchase in the offering.</font></p>
  <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">&#160;</p>
  <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
    <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">&#160;</font></div>
    <div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
      <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
  </div>
  <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">If the undersigned is not a natural person, the undersigned represents and warrants that
      no single natural person, entity or &#8220;group&#8221; (within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended), other than a natural person, entity or &#8220;group&#8221; (as described above) that has executed a Lock-Up Agreement in
      substantially the same form as this Lock-Up Agreement, beneficially owns, directly or indirectly, 50% or more of the common equity interests, or 50% or more of the voting power, in the undersigned.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">Notwithstanding the foregoing, the undersigned may transfer the undersigned&#8217;s Common
      Shares (i) as a <i>bona fide</i> gift or gifts, provided that the donee or donees thereof agree to be bound in writing by the restrictions set forth herein, (ii) to any trust for the direct or indirect benefit of the undersigned or the immediate
      family of the undersigned, provided that the trustee of the trust agrees to be bound in writing by the restrictions set forth herein, and provided further that any such transfer shall not involve a disposition for value, or (iii) with the prior
      written consent of the Representative on behalf of the Underwriters. For purposes of this Lock-Up Agreement, &#8220;immediate family&#8221; shall mean any relationship by blood, marriage or adoption, not more remote than first cousin. In addition,
      notwithstanding the foregoing, if the undersigned is a corporation, the corporation may transfer the Common Shares to any wholly-owned subsidiary of such corporation; <i>provided</i>, <i>however</i>, that in any such case, it shall be a condition
      to the transfer that the transferee execute an agreement stating that the transferee is receiving and holding such Common Shares subject to the provisions of this Lock-Up Agreement and there shall be no further transfer of such Common Shares except
      in accordance with this Lock-up Agreement, and provided further that any such transfer shall not involve a disposition for value. The undersigned now has, and, except as contemplated by clause (i), (ii), or (iii) above, for the duration of this
      Lock-Up Agreement will have, good and marketable title to the undersigned&#8217;s Common Shares, free and clear of all liens, encumbrances, and claims whatsoever. The undersigned also agrees and consents to the entry of stop transfer instructions with the
      Company&#8217;s transfer agent and registrar against the transfer of the undersigned&#8217;s Common Shares except in compliance with the foregoing restrictions.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">The undersigned understands that if the Underwriting Agreement does not become effective
      by August [&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ], 2022, or if the Underwriting Agreement (other than the provisions thereof which survive termination) shall terminate or be terminated prior to payment for and delivery of the Shares to be sold thereunder, the undersigned
      shall be released from all obligations under this Lock-Up Agreement.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">&#160;</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font-family: Arial, Helvetica, Sans-Serif">The undersigned understands that the Company and the Underwriters are relying upon this
      Lock-Up Agreement in proceeding toward consummation of the offering. The undersigned further understands that this Lock-Up Agreement is irrevocable and shall be binding upon the undersigned&#8217;s heirs, legal representatives, successors, and assigns.</font></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>
  <table style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%" cellpadding="0" cellspacing="0">

      <tr style="vertical-align: top; text-align: left">
        <td style="width: 50%">&#160;</td>
        <td style="width: 50%"><font style="font-family: Arial, Helvetica, Sans-Serif">Yours very truly,</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: left">
        <td>&#160;</td>
        <td>&#160;</td>
      </tr>
      <tr style="vertical-align: top; text-align: left">
        <td>&#160;</td>
        <td style="border-bottom: Black 1pt solid">&#160;</td>
      </tr>
      <tr style="vertical-align: top; text-align: left">
        <td>&#160;</td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif">Exact Name of Shareholder / Officer / Director</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: left">
        <td>&#160;</td>
        <td style="border-bottom: Black 1pt solid">&#160;</td>
      </tr>
      <tr style="vertical-align: top; text-align: left">
        <td>&#160;</td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif">Authorized Signature</font></td>
      </tr>
      <tr style="vertical-align: top; text-align: left">
        <td>&#160;</td>
        <td style="border-bottom: Black 1pt solid">&#160;</td>
      </tr>
      <tr style="vertical-align: top; text-align: left">
        <td>&#160;</td>
        <td><font style="font-family: Arial, Helvetica, Sans-Serif">Title</font></td>
      </tr>

  </table>
  <p style="margin-top: 0; margin-bottom: 0">&#160;</p>
  <p style="margin-top: 0; margin-bottom: 0"></p>
  <!-- Field: Rule-Page -->
  <div style="margin-top: 3pt; margin-bottom: 3pt" align="LEFT">
    <div style="font-size: 1pt; border-top: Black 2pt solid; width: 100%">&#160;</div>
  </div>
  <!-- Field: /Rule-Page -->
  <p style="margin-top: 0; margin-bottom: 0">&#160;</p>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>ny20004983x4_ex5-1.htm
<DESCRIPTION>EX-5.1
<TEXT>
<html>
<head>
    <title></title>
    <!-- Licensed to: Broadridge Finanicial Soultions, Inc.
         Document created using Broadridge PROfile 22.7.2.5062
         Copyright 1995 - 2022 Broadridge -->
  </head>
<body style="font: 10pt Times New Roman, Times, Serif">

<p style="margin: 0"></p>

<p style="margin: 0">&nbsp;</p>

<p style="margin: 0; text-align: right"></p>

<!-- Field: Rule-Page --><div align="LEFT"><div style="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="margin: 0; text-align: right"><b>Exhibit 5.1</b></p>

<p style="margin: 0">&nbsp;</p>

<p style="margin: 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="font-size: 10pt; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt; border-right: Black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt; width: 63%; border-right: Black 1pt solid">&nbsp;<img src="ny20004983x4_ex5-1img001.jpg" alt=""></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="font-size: 10pt; width: 20%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="color: Red">MJM
                                         LIMITED</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: transparent"><font style="color: #CFCFCF">THISTLE
HOUSE&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: transparent"><font style="color: #CFCFCF">4
BURNABY STREET&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: transparent"><font style="color: #CFCFCF">HAMILTON
HM 11&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="color: #CFCFCF">P.O. BOX HM 1564&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="color: #CFCFCF">HAMILTON HM FX&nbsp;</font></p>

<p style="margin: 0pt 0"><font style="color: #CFCFCF">BERMUDA&nbsp;</font></p>


</td>
    <td style="font-size: 10pt; width: 5%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; "><font style="color: #CFCFCF">TEL&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; "><font style="color: #CFCFCF">FAX&nbsp;</font></p>

<p style="margin: 0pt 0"><font style="color: #CFCFCF">WEB</font></p>

<p style="margin: 0pt 0"><font style="color: #CFCFCF">&nbsp;</font></p>


</td>
    <td style="font-size: 10pt; width: 10%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; "><font style="color: #CFCFCF">441.292.1345&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; "><font style="color: #CFCFCF">441.292.2277&nbsp;</font></p>

<p style="margin: 0pt 0"><font style="color: #CFCFCF">WWW.MJM.BM</font></p>

<p style="margin: 0pt 0"><font style="color: #CFCFCF">&nbsp;</font></p>


</td></tr>
</table>

<p style="margin: 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 80%; font-size: 10pt"><font style="font-size: 10pt">17 August 2022</font></td>
    <td style="width: 20%; font-size: 10pt"><font style="font-size: 10pt">Ref. 34852.0002</font></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>By Email and by Hand</b>&nbsp;</p></td>
    <td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Borr Drilling Limited&nbsp;</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">S.E. Pearman Building,&nbsp;</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">nd</sup> floor, 9 Par-la-Ville
Road&nbsp;</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hamilton HM 11&nbsp;</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bermuda&nbsp;</p></td>
    <td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt"><font style="font-size: 10pt"><b>&nbsp;</b></font></td>
    <td style="font-size: 10pt">&nbsp;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Sirs,</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><u>Borr Drilling Limited (</u></b><u>the <b>&ldquo;Company&rdquo;</b>)</u></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><b>1.</b></td><td style="text-align: justify"><b>Subject of Opinion</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">We are lawyers duly qualified
to practise in Bermuda. This opinion as to the laws of Bermuda is addressed to you in connection with the issuance and sale to
the Underwriters (as defined below) of 41,666,667 common shares of par value US$0.10 per share in the share capital of the Company
(the &ldquo;<b>Shares</b>&rdquo;) pursuant to an underwriting agreement between the Company and DNB Markets, Inc., as representative
of the several underwriters named in Schedule I thereto (together the &ldquo;<b>Underwriters</b>&rdquo;), dated 10 August 2022
(the &ldquo;<b>Agreement</b>&rdquo;). The Shares are more fully described in a registration statement filed with the Securities
and Exchange Commission (the &ldquo;<b>Commission</b>&rdquo;) on Form F-3 (File No. 333-266328) (such registration statement as
amended and supplemented from time to time), including the exhibits thereto (the &ldquo;<b>Registration Statement</b>&rdquo;),
under the Securities Act of 1933, as amended (the &ldquo;<b>Act</b>&rdquo;) and the rules and regulations promulgated thereunder,
in respect of the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><b>2.</b></td><td style="text-align: justify"><b>Documents Examined</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">For the purposes of this opinion
we have examined and relied upon the following (collectively, the &ldquo;<b>Documents</b>&rdquo;):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 36pt"></td><td style="width: 34.9pt">2.1.</td><td style="text-align: justify">a copy of the Registration Statement;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 35.45pt"></td><td style="width: 35.45pt">2.2.</td><td style="text-align: justify">a scanned copy of the prospectus supplement dated 10 August 2022, including the base prospectus
dated 26 July 2022 (together, the &ldquo;<b>Prospectus</b>&rdquo;);</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">2.3.</td><td style="text-align: justify">a copy of the Agreement;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">2.4.</td><td style="text-align: justify">a copy of the following documents of the Company, as certified by the Secretary thereof on 16 August
2022:</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in">(a)</td><td style="text-align: justify">Certificate of Incorporation;</td></tr></table>



<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal"></font>&#160;</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="">
</div>
</div>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">&#160;</p>


<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Page
2</font></p>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.5in; text-align: left">(b)</td><td style="text-align: justify">Certificate of Incorporation on Change of Name;</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15pt 0pt 1in; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.5in; text-align: left">(c)</td><td style="text-align: justify">Memorandum of Association;</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15pt 0pt 1in; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.5in; text-align: left">(d)</td><td style="text-align: justify">Bye-laws;</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15pt 0pt 1in; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.5in; text-align: left">(e)</td><td style="text-align: justify">Certificates of Deposit of Memoranda of Increase of Share
Capital;</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15pt 0pt 1in; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in">(f)</td><td style="text-align: justify">Resolutions passed by the Board of Directors of the Company on 9 August 2022 and by the shareholders
of the Company on 16 August 2022 (the &ldquo;<b>Resolutions</b>&rdquo;);</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in">(g)</td><td style="text-align: justify">Tax Assurance; and</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in">(h)</td><td style="text-align: justify">Register of Directors and Officers;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">2.5.</td><td style="text-align: justify">a Certificate of Compliance issued by the Bermuda Registrar of Companies (&ldquo;<b>ROC</b>&rdquo;)
in respect of the Company dated 16 August 2022; and</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">2.6.</td><td style="text-align: justify">such other documents as we have deemed necessary in order to render this opinion.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A reference to a document does
not include any other instrument or agreement whether or not specifically referred to therein or attached as an exhibit or schedule
thereto. Except as stated in this paragraph 2, we have not examined any contract, instrument or other document entered into by,
or affecting, the Company or any corporate records of the Company and have not made any other enquiries concerning the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>3.</b></td><td style="text-align: justify"><b>Searches</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">We have also relied upon our
searches of the documents of public record relating to the Company maintained by the ROC and on our search of the Cause Book maintained
by the Registrar of the Supreme Court of Bermuda, both made on 16 August 2022 (the &ldquo;<b>Searches</b>&rdquo;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>4.</b></td><td style="text-align: justify"><b>Opinion Limited to Bermuda Law</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">We have made no investigation
of the laws of any jurisdiction other than Bermuda and this opinion is given only with respect to Bermuda law as applied by the
courts of Bermuda at the date thereof and is governed by, and should be construed in accordance with, those laws. This opinion
is limited to the matters stated herein and does not extend to, and is not intended to be extended by implication to, any other
matters. This opinion is issued solely for the purposes of the issuance of the Shares and may not be relied upon in respect of
any other matter.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>5.</b></td><td style="text-align: justify"><b>Assumptions</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In giving this opinion
we have assumed:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">5.1</td><td style="text-align: justify">the authenticity, accuracy and completeness of all Documents (including, without limitation, public
records) submitted to us as originals and the conformity to authentic original documents of all Documents submitted to us as certified,
conformed, notarised or photo static copies;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left">5.2</td><td style="text-align: justify">the genuineness of all seals, signatures and markings
on the Documents;</td>
</tr></table>



<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal"></font>&#160;</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="">
</div>
</div>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">&#160;</p>


<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Page
3</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">5.3</td><td style="text-align: justify">the authority, capacity and power of each of the persons signing the Documents (other than the
Company);</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">5.4</td><td style="text-align: justify">that any representation, warranty or statement of fact or law, other than the laws of Bermuda,
made in any of the Documents, is true, accurate and complete; </td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">5.5</td><td style="text-align: justify">that each of the Documents which was received by electronic means is complete, intact and in conformity
with the transmission as sent; </td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">5.6</td><td style="text-align: justify">that there are no provisions of the laws or regulations of any jurisdiction other than Bermuda
which would have any implication in relation to the opinions expressed herein;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">5.7</td><td style="text-align: justify">that there are no provisions of the laws or regulations of any jurisdiction other than Bermuda
which would be contravened by any actions taken by the Company in connection with the Registration Statement or which would have
any implication in relation to the opinion expressed herein and that, in so far as any obligation under, or action to be taken
under, the Registration Statement is required to be performed or taken in any jurisdiction outside Bermuda, the performance of
such obligation or the taking of such action will constitute a valid and binding obligation of each of the parties thereto under
the laws of that jurisdiction and will not be illegal by virtue of the laws of that jurisdiction;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">5.8</td><td style="text-align: justify">that the information disclosed by the Searches has not been materially altered and that the Searches
did not fail to disclose any material information which had been delivered for filing or registration, but was not disclosed or
did not appear on the public files or on the Cause Book at the time of the Searches;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">5.9</td><td style="text-align: justify">that no litigation, administrative or other proceeding of or before any governmental authority
of Bermuda is pending against or affecting the Company;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">5.10</td><td style="text-align: justify">that the Company has not passed a voluntary winding-up resolution and that no petition has been
presented to or order made by a court for the winding-up or dissolution of the Company;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">5.11</td><td style="text-align: justify">that the Resolutions certified as being true and accurate and provided to us in connection with
the giving of this opinion were duly passed by the duly elected or appointed directors of the Company or any duly constituted committee
thereof and bv the shareholders of the Company; that any provisions contained in the Companies Act 1981 of Bermuda, as amended
(the &ldquo;<b>Companies Act</b>&rdquo;), or the bye-laws of the Company relating to the declaration of directors&rsquo; interests
and the convening of, the quorum required for, and voting at the meetings of the directors and the meetings of shareholders were
duly observed; and that such Resolutions have not been amended or rescinded, either in whole or in part, and are in full force
and effect;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">5.12</td><td style="text-align: justify">all Shares corresponding to the First Time of Delivery (as defined in the Agreement) will be issued
in compliance with all matters of, and will represent valid and enforceable obligations under, applicable U.S. federal and state
securities laws and other laws (other than the laws of Bermuda, in respect of which we are opining); and</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">5.13</td><td style="text-align: justify">the Registration Statement and the Prospectus, and any amendments thereto, will have become effective.</td></tr></table>



<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal"></font>&#160;</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="">
</div>
</div>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">&#160;</p>


<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Page
4</font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in; text-align: left"><b>6.</b></td><td style="text-align: justify"><b>Opinion</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Based upon and subject to the
foregoing and subject to the reservations set out below and to any matters not disclosed to us, we are of the opinion that:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">6.1</td><td style="text-align: justify">the Company is duly incorporated for an indefinite period as an exempted limited company, and is
validly existing and in &lsquo;good standing&rsquo; under the laws of Bermuda;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">6.2</td><td style="text-align: justify">the Shares corresponding to the First Date of Delivery (as defined in the Agreement) have been
duly authorised, validly issued, sold and paid for as contemplated in the Prospectus and the Agreement, fully paid and non-assessable;
and</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">6.3</td><td style="text-align: justify">so far as can be ascertained from the Searches, the Company is not engaged in or threatened with
any action, suit, or proceeding before any court in Bermuda.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>7.</b></td><td style="text-align: justify"><b>Reservations</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">We have the following reservations:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">7.1.</td><td style="text-align: justify">we have relied upon searches of public records on file at the offices of the ROC and the Registry
of the Supreme Court of Bermuda but we note that the records disclosed by those searches may not be complete or up to date;</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">7.2.</td><td style="text-align: justify">any reference in this opinion to securities being &ldquo;non-assessable&rdquo; means, in relation
to fully-paid securities of the Company and subject to any contrary provision in any agreement in writing between the Company and
the holder of securities, that: no security holder shall be obliged to contribute further amounts to the capital of the Company,
either in order to complete payment for their securities, to satisfy claims of creditors of the Company, or otherwise; and no security
holder shall be bound by an alteration of the Memorandum of Association or Bye-Laws of the Company after the date on which he became
a security holder, if and so far as the alteration requires him to take, or subscribe for additional securities, or in any way
increases his liability to contribute to the share capital of, or otherwise to pay money to, the Company; and</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in">7.3.</td><td style="text-align: justify">any reference in this opinion to the Company being &ldquo;in good standing&rdquo; means having
paid all fees and taxes and having made all filings required by the laws of Bermuda in order to maintain the valid existence of
the Company pursuant to such laws.</td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><b>8.</b></td><td style="text-align: justify"><b>Disclosure</b></td></tr></table>

<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">This opinion has been prepared
for use in connection with the filing by the Company of a current report on Form 6-K which will be incorporated by reference into
the Registration Statement and the Prospectus and is not to be relied upon in respect of any other matter.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">We hereby consent to the filing
of this opinion as Exhibit 5.1 to such Form 6-K and to the reference to our firm under the caption &ldquo;Legal Matters&rdquo;
in the Prospectus forming part of the Registration Statement, without admitting that we are &ldquo;experts&rdquo; within the meaning
of the Act or the rules and regulations of the Commission thereunder, with respect to any part of the Registration Statement.</p>



<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal"></font>&#160;</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="">
</div>
</div>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">&#160;</p>


<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Page
5</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In
giving such consent, we do not hereby admit that we are in the category of persons whose consent is required under section 7 of
the Act.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">This opinion speaks as of its
date and is strictly limited to the matters stated in it and we assume no obligation to review or update this opinion if applicable
law or the existing facts or circumstances should change.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Yours faithfully,</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>/s/ MJM Limited</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>MJM LIMITED</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<!-- Field: Rule-Page --><div align="LEFT" style="margin-top: 3pt; margin-bottom: 3pt"><div style="font-size: 1pt; border-top: Black 2pt solid; width: 100%">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>



<p style="margin: 0"></p>

</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>ny20004983x4_ex99-1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<html>
<head>
    <title></title>
    <!-- Licensed to: Broadridge Finanicial Soultions, Inc.
         Document created using Broadridge PROfile 22.7.2.5062
         Copyright 1995 - 2022 Broadridge -->
  </head>
<body style="font: 10pt Times New Roman, Times, Serif">

<p style="margin: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&nbsp;</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></p>

<!-- Field: Rule-Page --><div align="LEFT"><div style="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exhibit
99.1</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Borr
Drilling Announces First Settlement of the Offering of Common Shares</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Hamilton,
Bermuda, August 17, 2022. </b>Borr Drilling Limited (the &ldquo;Company&rdquo;) (NYSE and OSE: BORR) announced today the first
settlement of its previously announced public offering of 69,444,444&nbsp;common shares of the Company, at a price per share of
$3.60 per common share for total gross proceeds of $250 million. The Company has also granted the underwriters a 30-day option
to purchase up to an additional 6,944,444 common shares at the offering price minus underwriting discounts.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
first settlement was completed for 41,666,667 common shares as the conditions to this settlement were met on August 16, 2022.
The second settlement for the remainder of the shares offered (including any additional common shares issued pursuant to the underwriters&rsquo;
option, if exercised prior to the second settlement date) is expected on August 26, 2022, provided that the Company&rsquo;s authorized
share capital is increased by 35,000,000 common shares pursuant to a second special general meeting to be held on August 25, 2022.
Existing shareholders holding an aggregate of approximately 54% of the outstanding common shares of the Company have undertaken
to vote in favor of the increase in the authorized share capital at the special general meeting to be held on August 25, 2022.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
securities in the offering were offered or will be listed on Oslo Stock Exchange.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company plans to use the proceeds from the offering to consummate a refinancing with its lenders under its Syndicated Facility,
New Bridge Facility, Hayfin Facility and shipyards Keppel and PPL, and for general corporate purposes, which may include, among
other things, repayments of its debt obligations, payments to its creditors in return for potential concessions or extensions
of current facilities, capital expenditures, including costs in connection with activations and re-activations of rigs being brought
into operations, or funding of its working capital.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">DNB
Markets, Clarksons Securities, Pareto Securities, ABG Sundal Collier ASA, Arctic Securities AS, Fearnley Securities and SpareBank
1 Markets are the book-running managers for the offering. Cleaves Securities AS is a co-manager for the offering.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following
the first settlement of this offering, the Company&rsquo;s issued share capital increased by $4,166,666.70 to $ 19,456,817.50,
divided into 194,568,175 shares, each with a nominal value of $0.10 per share.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
offering was made pursuant to an effective automatic shelf registration statement, previously filed by the Company with the Securities
and Exchange Commission (&ldquo;SEC&rdquo;) on July 26, 2022. The offering of the common shares was made only by means of a prospectus
and a related prospectus supplement. A final prospectus supplement relating to the offering was filed with the SEC on August 11,
2022. You may obtain these documents for free by visiting EDGAR on the SEC&rsquo;s website at www.sec.gov. Alternatively, the
final prospectus supplement and accompanying prospectus related to the offering may be obtained by contacting DNB Markets, Inc.,
Attn: Compliance Department, by telephone: 212-681-3800, or by email at: compliance.marketsinc@dnb.no</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale
of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>About
Borr Drilling Limited</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borr
Drilling Limited is an international drilling contractor incorporated in Bermuda in 2016 and listed on the Oslo Stock Exchange
on August 30, 2017 and on the New York Stock Exchange on July 31, 2019 under the ticker &ldquo;BORR&rdquo;. The Company owns and
operates jack-up rigs of modern and high specification designs and provides services focused on the shallow water segment to the
offshore oil and gas industry worldwide. Please visit the Company&rsquo;s website at: www.borrdrilling.com</font></p>



<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal"></font>&#160;</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="">
</div>
</div>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px">&#160;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Forward-Looking
Statements</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
You can identify these forward-looking statements by words or phrases such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;anticipate,&rdquo;
&ldquo;plan,&rdquo; &ldquo;expect,&rdquo; or other similar expressions. These forward-looking statements include statements with
respect to the offering, the condition to the second settlement, the intended use of proceeds and other non-historical statements.
The forward-looking statements included in this press release are subject to significant risks, uncertainties, contingencies and
factors that may cause the Company&rsquo;s actual results, performance or achievements to be materially different from those expressed
or implied by the forward-looking statements including risks related to the use of proceeds, whether the condition to the second
settlement of the offering will be met, the risk that the Company will not consummate the proposed refinancing, the number of
shares to be sold in the offering and other risks described in the Company&rsquo;s most recent Annual Report on Form 20-F and
other filings of the Company with the SEC. The forward-looking statements made in this press release speak only as of the date
of this press release. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events or otherwise, after the date hereof or to reflect the occurrence
of unanticipated events.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August
17, 2022</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors<br>
Borr Drilling Limited<br>
Hamilton, Bermuda</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contact:<br>
Magnus Vaaler: CFO, +47 22483000</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>

<!-- Field: Rule-Page --><div align="LEFT" style="margin-top: 3pt; margin-bottom: 3pt"><div style="font-size: 1pt; border-top: Black 2pt solid; width: 100%">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>



<p style="margin: 0"></p>

</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>ny20004983x4_ex5-1img001.jpg
<TEXT>
begin 644 ny20004983x4_ex5-1img001.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    /   _^X #D%D
M;V)E &3      ?_; (0 !@0$! 4$!@4%!@D&!08)"P@&!@@+# H*"PH*#! ,
M# P,# P0# X/$ \.#!,3%!03$QP;&QL<'Q\?'Q\?'Q\?'P$'!P<-# T8$! 8
M&A41%1H?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?
M'Q\?'Q\?'Q\?_\  $0@ / "+ P$1  (1 0,1 ?_$ +4  0 !!0$!
M       & @,$!0<( 0$!  (# 0$               $% P0'!@(0  $# @,$
M P@/!P4       (! P0 !1$2!B$3% <Q02)1,B-S9+05-H&1T4*2,U,D-96E
M%E87)V%Q8G+"=#=2@K-$.!$  @$" @0("P8'          $"$0,2!"$Q405!
M87&Q,G(3!H&1P2*BXC-3-!46\*%"LB,4T>'QPD,D-?_:  P# 0 "$0,1 #\
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MCKV1\E;%!5"PQ>4D;12PR]M05$VT!>69&28,)3^<DVKPMX+BK8D@J6/1TDE
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MSR4\UD^QN1[.XM3T/2GK5"]RTU):H6MGM3Z@N+,07 ?$F$!TSS.Y4% %L"%
M$=B;>A,*G+W$IXI,^-]9.Y/*JQ9@Y4PZ:K@Y7K9<TE$9BZ.Y@FW*:E,+$CMA
M):SH"JXZX@HJ."!(O1U5-M4A/D/G/W'+,Y5.+B\4M#IP);&S0W8;9"M-CD6J
M^L2;K;4,G66FWP4'2?5YLFC-L1)!Q[6.%8I425'I189=W)W+BN6W&W/:XZL-
M'6CT5,R]ZL9U7K2)=I;K-IA1BCFHN(:IB! 3Y(C0FI&9(J[>I$VU]3N8YIO0
MC!EL@\IE96XIW)2Q>7#K>I<]25-W"SWCG?!O=IN#4R+,D,Y6Q%T'14&,A9A<
M 4PQ#J6LV)2O)IE9V-VSNJ=JY%QE&+V4Z5>!G7>7GJI&\;*\Y<JU9SHM UJ*
M-=93[4=2"5)17TP!4!L2$ =95215SL"@F"[<VU/V@95^AW:3*;EQ [5M5MZ*
MVJHBO&1>&%%S(B8M8AVDZZ@&3P!EJ,)?#IPW!J"N*@['%=0\%3IQZZ -0'$O
MTU[<H##L:.#+^ K@XV;JK@G3LWB+0&LB6F<5NM$%R*K4VVOM./S,4RJC2KO#
M$T7,2OITHJ>^VU(*K;:[C&O*S'(V9DI,P15%%# 9!B8N]]VP+)@J=*4!\C6>
M[,NM.@VG#R9>^FQ"5/!F+RDC[:XJG;3#./=VIUT!G0(<EO4-SD.-&#$@VU9+
M!M0/*P(*2KWZ*BIEJ 6H-D&/Z59<8,HBJ;<%I%%,&'@0W0;5%11Q=(DVX="=
M52#5^B;WD^,D9LO#;S(UFX3/\;AAAQ&7L?R[<,: XMS1^B].>+F^>.55Y_I(
MZ#W-]C<ZRYCGM:![(4!NI%_1K3_W?MR$$)YT9-QD'@CDEX4P!%1,<C3?O1QV
MKVE[B9'/S<*U&C#*5O=M/I)4BN"*X>63X7X$:6L9O"@);RI_R%9/'_TK6;+^
MT15;\^"N]7RH]&\O/52-XV5YRY5ZSD))*@"@% * 4 H!0"@% * \S<S6'G;5
MIU6VR-$;FXJ**O\ W'*K<^O.1T#N=)*S<J_Q+F(#P4SY _@K6A1GL,<=J\8X
M*9\@?P5I1C'':O&."F?('\%:48QQVKQC@IGR!_!6E&,<=J\8X*9\@?P5I1C'
M':O&2OE7%DAS LI&T8BCZ8JHKAWJUFRZ_415[\G']G=TKH^5'HCEYZJ1O&RO
M.7*O&<C))4 4 H!0"@% * 4 H!0',;/]\^!'T%Q?HO.[N,. PQWA9_C>WW^;
MIJ09OZG^6?9= /U/\L^RZ ?J?Y9]ET _4_RS[+H!^I_EGV70#]3_ "S[+H"0
I: W/W5B;G/DSOX[W+GS;\\V.79WV-0P2&@% * 4 H!0"@% * 4!__]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
