Prosafe SE

Business and Financial Review • Aug 27, 2024

Prosafe SE: Safe Caledonia contract signed with Ithaca Energy

Prosafe SE: Safe Caledonia contract signed with Ithaca Energy

27 August 2024 - Reference is made to press release dated 5 July 2024 where

Prosafe announced the award of a Letter of Intent from Ithaca Energy (UK)

Limited. Prosafe now advises that the contract has been signed, and that

the Safe Caledonia will provide accommodation support for Ithaca Energy at the

Captain field in the UK sector of the North Sea for a firm period of 6 months

commencing June 2025 with up to 3 months of options.

The total value of the contract is approximately USD 26 million to USD 37

million depending on options.

Terje Askvig, CEO of Prosafe says:?"Prosafe is extremely pleased that we have

formalised the LoI into contract and we very much look forward to working

closely with Ithaca Energy deploying the Safe Caledonia at the Captain field in

the UK. As the market continues to tighten, reactivation of the Safe Caledonia

will provide optionality to our clients in the years to come."

For further information, please contact:

Terje Askvig, CEO Phone: +47 952 03 886

Reese McNeel, CFO Phone: +47 415 08 186

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

(https://www.prosafe.com/)??

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act. This stock exchange

announcement was published by Line Bliksmark, Marketing and Communications

Manager, on August 27th, 2024, at 20:00 CEST.