Prosafe SE: Contract and tender status update - June 2023

Contract update
As planned, Safe Notos was off hire for 30 days due to Petrobras compliance works and hull cleaning. The vessel has been on hire again since 15 June 2023.

Safe Zephyrus started its 650-day contract with Petrobras in Brazil as expected on 30 April 2023 and has been in continuous operation during the month.

Safe Eurus continues operations with Petrobras. Petrobras has requested, and Prosafe has agreed to bring forward the compliance works, hull cleaning and SPS from Q1 2024 to November 2023. Safe Eurus will consequently be off-hire for approximately 35 days in November/December 2023.

Safe Concordia is in Curaçao where ramp-up and mobilization works continue for the upcoming contract in the US Gulf of Mexico. The commencement window for the contract has been narrowed to 1 August through 15 August 2023. A standby rate of USD 28,000 per day has been agreed for the period from 1 August until completion of mobilization. The combined mobilization costs and capex remain in the estimated range previously communicated of USD 25 to 30 million.

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
Petrobras has issued a new, 4-year tender and Prosafe expects further tenders in Brazil from Petrobras and other operators with contract commencements from early/mid 2024 to early 2025.

Prosafe expects additional tenders and/or direct awards in the North Sea for requirements from 2024 onwards.

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, 22 June 2023
Prosafe SE

For further information, please contact:

Reese McNeel, CEO (interim)
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.