Core Viewpoint - Prosafe SE has completed a Debt Conversion process, converting part of its debt into equity, which will affect the ownership structure of the company [1][2]. Group 1: Debt Conversion Details - The Debt Conversion was announced on 24 April 2025 and has now been completed as of 21 July 2025 [1]. - The total number of issued and outstanding shares in the company at the time of completion is 339,504,369 [2]. Group 2: Shareholder Changes Post-Debt Conversion - Acasta Global Master Fund will own 21,555,640 shares, approximately 6.35% of the outstanding shares, crossing the 5% disclosure threshold [3]. - BlueBay Destra and BlueBay Event will collectively own 41,251,716 shares, representing approximately 12.15%, crossing the 10% disclosure threshold; BlueBay Destra holds 22,688,444 shares (6.68%) and BlueBay Event holds 18,563,272 shares (5.47%) [3]. - Caius Capital Master Fund, Star V Partners LLC, and LMA-SPC MAP 204 Segregated Portfolio will collectively own 57,452,631 shares, approximately 16.92%, crossing the 15% disclosure threshold; Caius holds 50,274,435 shares (14.81%), Star V holds 5,788,560 shares (1.71%), and LSP holds 1,389,636 shares (0.41%) [3]. - The Export-Import Bank of China will own 42,850,422 shares, approximately 12.62%, crossing the 10% disclosure threshold [3]. - DNB Bank ASA will own 47,576,613 shares (including 30,233 borrowed shares), representing approximately 14.01%, crossing the 10% disclosure threshold [3]. - SpareBank 1 Sør-Norge ASA will own 17,786,952 shares, approximately 5.24%, crossing the 5% disclosure threshold [3].

Core Viewpoint - Prosafe has successfully completed a recapitalization process that significantly enhances its financial position by converting USD 193 million of debt into equity, resulting in the issuance of 321,635,718 new shares and the offering of warrants to shareholders [1][2][4]. Financial Position - The recapitalization has led to an increase in the company's registered share capital by EUR 3,216,357.18, raising it from EUR 178,686.51 to EUR 3,395,043.69, with a total of 339,504,369 shares now outstanding [3]. - The company expects unrestricted liquidity of approximately USD 90 to 100 million and a headroom against the new USD 20 million covenant of approximately USD 70 to 80 million at the date of the recapitalization [7]. Business Outlook - Prosafe maintains a positive outlook, having secured new contracts and improved operational activity due to vessel re-activations. A new 4-year contract for the Safe Notos has been awarded at a significantly improved day rate of approximately USD 140,000 per day [5]. - The company anticipates full-year 2025 EBITDA in the range of USD 35 to 40 million, contingent on the successful completion of various contracts and vessel re-activations [7]. Corporate Governance - The company has welcomed a new Board of Directors elected at the annual general meeting held on 21 May 2025, expressing gratitude to the departing board for their contributions [6].

Core Viewpoint - Prosafe SE has successfully completed a recapitalization process, significantly improving its financial position by converting USD 193 million of debt into equity, resulting in the issuance of 321,635,718 new shares and offering warrants to shareholders [1][2][4]. Financial Position - The recapitalization has led to an increase in the company's registered share capital from EUR 178,686.51 to EUR 3,395,043.69, with a total of 339,504,369 shares now outstanding [3]. - The company expects unrestricted liquidity of approximately USD 90 to 100 million and a headroom against the new USD 20 million covenant of approximately USD 70 to 80 million at the date of the recapitalization [7]. Business Outlook - Prosafe maintains a positive outlook with new contracts secured, including a 4-year contract for the Safe Notos at a significantly improved day rate of approximately USD 140,000 per day [5]. - The company anticipates full-year 2025 EBITDA in the range of USD 35 to 40 million, contingent on the successful completion of various contracts and vessel re-activations [7]. Corporate Governance - The company welcomed a new Board of Directors elected at the annual general meeting held on 21 May 2025, expressing gratitude to the departing board for their contributions [6].

Recapitalization Overview - The company has agreed to a recapitalization plan involving USD 193 million, resulting in the issuance of 321,635,718 new shares and an offering of up to 17,868,651 warrants to shareholders as of 16 May 2025 [1] - The recapitalization is subject to final approval from all lenders [1] Regulatory Approval and Prospectus - A prospectus has been approved by the Norwegian Financial Supervisory Authority for the listing of new shares on Euronext Oslo Børs and the offering of warrants [2] - The prospectus is available on the company's official website [2] Expected Timeline and Share Capital - The company anticipates that the recapitalization will be effective shortly, with an announcement to confirm its effectiveness once the share capital increase is registered [3] - Following the registration, the company's registered share capital will be EUR 3,395,043.69, divided into 339,504,369 shares, each with a par value of EUR 0.01 [3]

Group 1 - Fleet utilization for June 2025 was reported at 79 percent [1] - Operations in Brazil with Safe Eurus, Safe Notos, and Safe Zephyrus achieved between 99 and 100 percent commercial uptime in June [1] - Safe Caledonia commenced operations at the Captain Field in the UK on June 2, 2025, with a commercial uptime of 94 percent during the initial period [1] - Safe Boreas is currently being transported to Singapore for an upcoming contract in Australia [1] Group 2 - Prosafe is a leading owner and operator of semi-submersible accommodation vessels [2] - The company is listed on the Oslo Stock Exchange with the ticker code PRS [2]

21 May 2025 – The Annual General Meeting ("AGM") of Prosafe SE (the "Company") was held today as a virtual meeting via Lumi. All proposals on the agenda were adopted in accordance with the notice of the AGM that was published by the Company on 30 April 2025. The minutes from the AGM are attached hereto and can be downloaded from http://www.newsweb.no and https://www.prosafe.com. For further information, please contact: Terje Askvig, CEO Phone: +47 952 03 886 Reese McNeel, CFO Phone: +47 415 08 186 This info ...

Fleet Utilization - Fleet utilization for April 2025 was reported at 58 percent [1] - Safe Zephyrus and Safe Eurus achieved 100 percent commercial uptime during April [1] - Safe Notos had a commercial uptime of 92 percent due to required repairs [1] Contract Updates - Safe Caledonia has been re-activated for a UK contract starting on June 1 [1] - Safe Boreas is in the process of being transported to Singapore for a contract in Australia [1] - Safe Scandinavia has been sold for recycling and has been delivered to the buyer [1] Company Overview - Prosafe is a leading owner and operator of semi-submersible accommodation vessels [2] - The company is listed on the Oslo Stock Exchange with the ticker code PRS [2]

Core Viewpoint - Prosafe SE reported a decline in EBITDA for Q1 2025, but maintains high utilization of its fleet and is progressing on new contracts, indicating a focus on operational efficiency and future growth opportunities [1][3]. Financial Performance - EBITDA for Q1 2025 was USD 4.6 million, down from USD 7.2 million in the same period last year [1]. - Revenues decreased slightly to USD 33 million from USD 34 million year-over-year [4]. - Cash flow from operations improved to USD 28.4 million, compared to a negative USD 1.4 million in the previous year [4]. - Capital expenditures (Capex) increased significantly to USD 21.2 million from USD 1.7 million, attributed to the reactivation of vessels [4]. Operations and Contracts - The company had four active vessels during the quarter, with high utilization rates [1][3]. - Safe Notos was recently named the winner of a 4-year tender with Petrobras in Brazil, pending final contract [3]. - Safe Zephyrus has been extended with Petrobras until Q3 2027, and Safe Caledonia is reactivated for a UK contract starting June 1 [4]. Recapitalization and Financial Structure - A recapitalization plan has been agreed upon, equitizing USD 193 million of debt for 90% of the company's shares, supported by lenders [4]. - Existing shareholders will retain 5% ownership and have the option for an additional 5% at EUR 0.01 per share [4]. - The estimated post-recapitalization net debt is projected to be USD 220 million, with expected completion in Q3 2025 [4]. Market Outlook - Ongoing Petrobras tenders indicate strong market fundamentals in Brazil, while North Sea operators are planning future campaigns with a focus on 2027 and beyond [4]. - The increased backlog and improved market conditions position Prosafe for enhanced earnings in the future [4].

Core Viewpoint - Prosafe SE is undergoing a recapitalization process, which includes the issuance of warrants to existing shareholders, as approved in an extraordinary general meeting held on May 16, 2025 [1]. Group 1: Recapitalization Details - The recapitalization was announced on April 24, 2025, and involves the issuance of warrants in accordance with the Norwegian Public Limited Liability Companies Act [1]. - The issuance of warrants is conditional upon the completion of the recapitalization [1]. Group 2: Trading Information - As of May 19, 2025, the shares of the Company will be traded excluding the rights to subscribe for the warrants [2]. - The Company has provided contact information for its CEO and CFO for further inquiries [2].

Group 1 - Prosafe SE published its Annual report, Transparency Act Statement, and Remuneration report for 2024, which includes the annual accounts, corporate governance report, and sustainability report [1] - The audited accounts for Q4 and full year 2024 show an increase in EBITDA from USD 23.8 million to USD 27.2 million, attributed to the reversal of demobilisation accruals [2] - The impairment increased to USD 8.4 million due to a realized sale price below the net book value after the reporting date [2] - The net loss for the period increased from USD 41.8 million to USD 46.7 million, reflecting a rise of USD 4.9 million [2] Group 2 - Prosafe is a leading owner and operator of semi-submersible accommodation vessels and is listed on the Oslo Stock Exchange under the ticker code PRS [3]