Prosafe SE: Operational update - September 2025

16 Oct 2025 07:00 CEST

16 October 2025 - Fleet utilisation for September 2025 was 100% and utilisation
for the third quarter of 2025 was 86%.

With Safe Boreas on standby rate from 1 September 2025, all Prosafe vessels are
currently in operation, supporting increased earnings.

In Brazil, Safe Eurus, Safe Notos, and Safe Zephyrus operated at full capacity,
with average 99% commercial uptime in September and 99% in the quarter.

Safe Caledonia has maintained 100% commercial uptime at the Captain Field in the
UK since contract commencement in June 2025. There are up to three months of
options available from 1 December and Ithaca must declare the first option by 1
November.

Safe Boreas remains on standby in the Singapore region in preparation for the
upcoming 15-month firm contract plus 6 months of options in Australia with a
start-up window between 2 December and 15 December 2025.

"Prosafe is pleased to have all units in operation as we continue to deliver
high gangway uptime and safe operations. All high-end units are contracted into
2027, with Safe Notos' work for Petrobras extending all the way to 2030. We
expect Safe Caledonia to remain in field beyond 01 December and consider the
outlook for further work in 2026 and 2027 as positive.

We see continued strong market demand led by Brazil where both Petrobras and
independent operators are active, as well as from projects offshore Africa. We
believe we are well positioned to increase our backlog in the coming quarters.

Furthermore, we continue to focus on operational efficiencies, with initiatives
to reduce operational costs and SG&A, including a right-sizing of the
organisation, well underway." said Reese McNeel, interim CEO and CFO of Prosafe.

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

For further information, please contact:
Reese McNeel, interim CEO and CFO
Phone: +47 415 08 186


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

More information:
Access the news on Oslo Bors NewsWeb site

657282_Prosafe_Operational update_Sept 25.pdf