Prosafe SE

Regulatory Filings • Apr 25, 2022

Prosafe SE: Operational update Q1 2022

Prosafe SE: Operational update Q1 2022

The fleet utilisation rate in the first quarter of 2022 was 68.1 per cent (Q1

2021: 25.7 per cent).This is the highest first quarter utilisation since 2015.

Safe Zephyrus started operations for bp at ETAP in the UK North Sea on 22

January 2022. The vessel is on a 10-month contract with up to four months of

options.

Safe Caledonia, after a period of in-field standby, resumed full operations for

TotalEnergies at the Elgin platform in the UK on 7 March 2022. The vessel will

be on contract until December 2022. In addition, there is a 30-day option.

Safe Boreas was in the yard to prepare for a contract on the Norwegian

Continental Shelf starting in Q2 2022. This contract has a firm duration of

three months and two additional one-month options.

Safe Eurus has been providing safety and maintenance support to Petrobras in

Brazil since November 2019 and was in full operation in the quarter. The

contract has a firm duration until February 2023. Safe Eurus is attractively

placed in the bidding round for a new four-year contract with Petrobras and the

post-bidding process is underway with conclusion expected in Q2 2022.

Safe Notos has been operating for Petrobras in Brazil since December 2016 and

was in full operation in the quarter. The contract has a firm duration until

mid-July 2022. Safe Notos was declared the winner of a four-year contract

bidding process by Petrobras. The appeal process is over and bidders are

awaiting Petrobras to award the contract. The contract has a firm period

commitment of four years, with commencement in Q3/Q4 2022 following on from the

expiry of her current contract.

Safe Concordia has been operating in Trinidad and Tobago since July 2021 and was

fully utilised during this quarter. The vessel was awarded a 160-day contract by

BP Trinidad and Tobago with start-up in direct continuation of her current

contract at Cassia C, 24 March 2022. The contract has a firm duration until 31

August 2022 and four one-week options.

Safe Scandinavia was idle in the quarter and is laid up in Norway.

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, 25 April 2022

Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO

Phone: +47 51 65 24 30 / +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO

Phone: +47 51 64 25 17 / +47 478 07 813

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act