Prosafe SE — Investor Presentation 2015

Apr 21, 2015

21 April 2015

Safe Boreas visit

Disclaimer

All statements in this presentation other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties, and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. Certain such forward-looking statements can be identified by the use of forwardlooking terminology such as "believe", "may", "will", "should", "would be", "expect" or "anticipate" or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans or intentions. Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this presentation as anticipated, believed or expected. Prosafe does not intend, and does not assume any obligation to update any industry information or forward-looking statements set forth in this presentation to reflect subsequent events or circumstances.

Agenda

Safe Boreas

Market update

Welcome to Safe Boreas

The world's most advanced and efficient harsh-environment semi-submersible accommodation and service vessels

• Compliant with stringent Norwegian regulations
• Built at Jurong Shipyard in Singapore
• DP3 and 12-point mooring
• • Allowing for operations both in DP and anchored mode
• • Provides maximum flexibility and cost efficiency
• Accommodation capacity of 450 persons
• • All in single person cabins with natural day light

Boreas was the Greek god of the cold north wind and the strongest and speediest of all winds. He was also the god of winter, the bringer of snow and hail but, at times, he could prove to be nice and calm as well

Safe Boreas progress

Quality vendors

l i D e e r v y	d V e n o r
d Y a r	( ) h d d. J S i P L S i t t r o n g p a r e n g a p o r e u y
D i e s g n e r	( ) d G V A S e e n w
i i M a n e n g n e s	( ) i l ly W I t t a r s a a
h T t ru s e r s	l l ( ) N R R o s o y c e o rw a y
l l E i t t e c r c a s y s e m	( h ) A B B N Eu t o r e r n r o p e
A i t t t u o m a o n s y s e m	( ) b K N o n g s e r g o rw a y
& D P i i i t t n a g a o n e q p m e n v u	( ) b K N o n g s e r g o rw a y
G a n g a w y	( ) lu M i A i iu N a r n e m n m o rw a y
C r a n e s	( ) i b h i L A t e e r r u s r a
h M i i o o r n g w n c e s	( ) Pu N s n e s o rw a y
h k F t r e s w a e r m a e r s	( ) E N nw a o rw a y
l S t t t t e w a g e r e a m e n p a n	hy ( ) H U K t a m w o r
ly O i t t w a e r s e p a r a o r	( ) l f l d A L S a a v a w e e n
l & Fu L O t e s e p a r a o r s	( ) l f l d A L S a a a e e n v w
f f h W i i i i t t t a e r m s r e g n g	( ) k S D e m c o e n m a r
i P t a n	( ) J N t o u n o rw a y

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State of the art accommodation quality

• Accommodation capacity for 450 persons
• • All in single man cabins with natural day light
• Two atriums
• • Provide daylight in living and recreational areas
• 50 offices
• Gym, sauna, cinema, golf simulator, interactive cabin TV etc.

Strong capabilities

Thruster power (kW) Combined mooring strength (tonnes)

PoB (one person per cabins)

Air gap operation and survival mode (meters)

Vessel motion characteristics

• Six degrees of freedom refers to the freedom of movement of a rigid body in a three-dimensional space
• The body is free to move (translation) along three axes
• -Surge (forward/backward or forward/astern)
• -Sway (left/right or port/starboard)
• -Heave (up/down)
• The body is free to rotate (rotation) about three axes
• -Pitch (about surge axis)
• -Roll (about sway axis)
• -Yaw (about heave axis)

Vessel motion characteristics

• Gangway connecting to a fixed target
• -Connect the gangway – Maintain position
• -Accommodation vessel should move as little as possible
• Gangway connecting to a moving target
• -Connect the gangway – Follow target
• -Accommodation vessel should move as required
• Key variables for offshore accommodation vessels
• • Thruster power / Displacement in operation (kW/t) (maneuverability)
• • Displacement in operation / Waterplane area (t/m2) (motion)
• -Air gap in operation (m)

Vessel motion characteristics DP vessels

See appendix and latest issue of the "Prosafe Now" magazine (can be found at www.prosafe.com) for more details

Source: Prosafe estimates based on available technical specifications

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Harsh environment capabilities DP vessels

Station keeping - Mooring strength/Displacement in operation (t/t)

Source: Prosafe estimates based on available technical specifications

Agenda

Safe Boreas

Market update

Market update

• North Sea
• • Activity still at low level, but some enquiries from clients recently particularly on UK side
• -Potential for contract awards in the coming months
• Mexico
• • Pemex has initiated substantial cost-reduction programs as a result of lower oil price
  • Pemex has prioritized re-planning of drilling activities in recent months to reduce spending
  • Contract activities in other segments have been delayed
• -Positive longer-term outlook
• Brazil
• • Potential for further growth near-term despite increased uncertainty regarding oil price and administrative issues