Prosafe SE

Earnings Release • Dec 18, 2025

Prosafe SE: Operational update - November 2025

Prosafe SE: Operational update - November 2025

18 December 2025 - Fleet utilisation for November 2025 was 100%.

In Brazil, Safe Eurus, Safe Notos, and Safe Zephyrus continued to operate at

full capacity in November, delivering near 100 % commercial uptime.

The Special Periodic Survey (SPS) and related off-hire period for Safe Zephyrus

has been moved to 2026. Both Safe Notos and Safe Zephyrus are now expected to

complete their SPS' by the end of the first quarter of 2026.

Safe Caledonia maintained 100% commercial uptime at the Captain Field in the UK.

The vessel is on contract to early February 2026 after Ithaca Energy exercised

nine weeks of options. A further three weeks of options remain. In addition,

Prosafe has been issued a Letter of Intent (LoI) from Ithaca Energy (UK) Limited

for the charter of the Safe Caledonia from Q2 2027 for 6 months with up to 3

months of options. Final contract award is expected in Q1 2026. The value of the

contract linked to the LoI is approximately USD 30 million to USD 44 million

depending on options.

Safe Boreas has arrived in Australia and is receiving full day rate from 15

December 2025. Prosafe has agreed with the client that the 15-month firm period

shall commence upon gangway connection which is expected in the first quarter of

"We continue to deliver consistent strong performance across the Prosafe fleet

with high gangway uptime and safe operations. The Safe Caledonia extensions and

new LoI provide additional visibility into early 2026 and from Q2 2027 while we

continue to evaluate further opportunities between contracts. With all units now

contracted into 2027, we maintain focus on providing world-class, safe offshore

accommodation services, capturing the strong market to extend backlog at

materially higher day rates, and realising operational efficiencies and cost

reductions to drive future revenue and EBITDA growth," said Reese McNeel, CEO 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, CEO

Phone: +47 415 08 186

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act