Agreement on extension of the delivery for Safe Nova and Safe Vega

As part of entering into a Global Agreement (Deed) with COSCO Shipping (Qidong) Offshore Co. Ltd which forms part of the recently completed financial restructuring, Prosafe and Cosco have agreed extended delivery flexibility relating to the Safe Nova and Safe Vega under the agreement entered into and announced in August 2018 (www.prosafe.com).

It remains the intention that Prosafe will take the vessels to the market once contract opportunities materialise with the Brazil market being the most likely given the expected next round of tenders. In the meantime, Prosafe is marketing the vessels globally, although have no financial obligations until delivery of the vessels.

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, 19 May 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

Robin Laird, Director of Investor and Lender Relations
Phone: +65 81 27 21 01

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act