Prosafe SE

Related Party Transaction • Jul 5, 2024

Prosafe SE: Safe Caledonia awarded Letter of Intent

Prosafe SE: Safe Caledonia awarded Letter of Intent

5th July 2024

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

for the charter of the Safe Caledonia to provide gangway connected accommodation

support at the Captain field in the UK sector of the North Sea.

The firm duration of the contract commencing June 2025 is 6 months with up to 3

months of options and final contract award is subject to meeting certain site

specific technical criteria. The Safe Caledonia will undergo its five-yearly

special periodic survey and other maintenance works prior to commencement of the

contract.

The value of the contract linked to the LoI is approximately USD 26 million to

USD 37 million depending on options.

Terje Askvig, CEO of Prosafe says:?"The Safe Caledonia has provided consistently

safe and reliable high quality accommodation support in the UK sector for many

years, and we are very pleased to gain this LoI from a new client in Ithaca

Energy. The reactivation and commitment of the Safe Caledonia reflects the

continued tightening of the accommodation market in the North Sea and globally"

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/)??

For further information, please contact:??

Terje Askvig, CEO?

Phone: +47?95203886?

Reese McNeel, CFO?

Phone: +47?41508186?

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act