Prosafe SE: Contract and tender status update - March 2023

21 Mar 2023 07:00 CET

Contract update

Safe Zephyrus has arrived in Brazil and preparations are ongoing for contract
commencement with Petrobras on 1 May 2023.

Safe Eurus started its new four-year contract with Petrobras on 17 February
2023 following directly from the expiry of the previous contract. Safe Eurus was
expected to be off hire for approximately 35 days in April/May 2023. The off-
hire period has now been moved to Q1 2024. Petrobras contract compliance works,
hull cleaning and SPS will now be conducted then.

Safe Notos is expected to be off hire for approximately 30 days in May 2023 for
Petrobras contract compliance works and hull cleaning.

Safe Concordia is laid up in Curaçao where ramp-up and mobilization works have
started for the upcoming project in the US Gulf of Mexico. The commencement
window is currently July through September 2023. A standby rate of USD 28,000
per day has been agreed for the period from 1 August until the latest
commencement date of 30 September.

The Safe Caledonia is laid up at Scapa Flow in the UK pending future work.

Safe Boreas is laid up in Norway pending future work.

Safe Scandinavia is laid up in Norway and is being marketed broadly.

Tender update


The recent Petrobras tender for 450 days has been cancelled. Prosafe is
currently not participating in any Petrobras tenders.

Prosafe is participating in the following tenders:

+------+---------------+-----------+---------------+----------------------+
| Year | Firm duration | Option(s) | Region | Expected competition |
+------+---------------+-----------+---------------+----------------------+
| 2024 | 5 months | 2 months | UK | Semi-submersible |
+------+---------------+-----------+---------------+----------------------+
| 2024 | 3 months | 1 month | UK | Semi-submersible |
+------+---------------+-----------+---------------+----------------------+
| 2025 | 3 months | 2 months | North America | Semi-submersible |
+------+---------------+-----------+---------------+----------------------+

Prosafe expects an additional 1 to 3 tenders and/or direct awards in the North
Sea for 2024 as well as additional opportunities for 2025. Petrobras may also
announce new tenders in 2023.

Prosafe is a leading owner and operator of semi-submersible accommodation
vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS.
For more information, please refer to https://www.prosafe.com

Stavanger, 21 March 2023
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

Reese McNeel, CFO
Phone: +47 47 51 64 25 17 / +47 415 08 186


This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

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