Company Presentation January 2026 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 forward-looking terminology such as "believe", "may", "will", "should", "would be", "expect" or "anticipa ...

Group 1 - Ithaca Energy has extended its contract with Prosafe for accommodation support at the Captain field in the UK sector of the North Sea until 22 February 2026 [1] - The total value of the contract extension is approximately USD 2.73 million [1] - Prosafe is a leading owner and operator of semi-submersible accommodation vessels, listed on the Oslo Stock Exchange under the ticker code PRS [2]

Core Insights - Prosafe reported a fleet utilization rate of 80% for August 2025, with several vessels operating at full capacity, indicating strong operational performance [1] - Safe Caledonia achieved 100% commercial uptime at the Captain Field in the UK, while other vessels like Safe Eurus, Safe Notos, and Safe Zephyrus exceeded 99% commercial uptime in Brazil [1] - The company is preparing for the upcoming contract of Safe Boreas in Australia, with a start-up window from November 16 to December 15, 2025, and is currently receiving a standby rate [1] Operational Performance - Prosafe continues to deliver high commercial uptime across all vessels, with Safe Caledonia performing exceptionally well and having options for contract extensions beyond December [2] - New contract opportunities for Safe Caledonia are emerging, particularly for the end of 2026 and into 2027, which is expected to support increased earnings [2] - Safe Boreas is in standby mode, with preparations for a full contract start-up in the fourth quarter, ensuring that all high-end units will be contracted into 2027 [2] Company Overview - Prosafe is a leading owner and operator of semi-submersible accommodation vessels, listed on the Oslo Stock Exchange under the ticker code PRS [3]

Core Insights - Petrobras has awarded a four-year contract worth $204 million to Prosafe for the deployment of the Safe Notos vessel, enhancing its offshore support capabilities starting September 2026 [1][9] - The Safe Notos is a dynamically positioned semi-submersible vessel designed for safety and maintenance in harsh maritime environments, accommodating around 500 personnel [3] - This contract reflects Petrobras' long-term commitment to operational excellence and safety in offshore oil and gas operations, with the vessel expected to remain in service until 2030 [4] Tender Award Details - In May 2025, Petrobras selected Prosafe as the winning bidder for the contract, which was subject to a formal approval process before finalization [2] - During the approval phase, Petrobras was not obligated to finalize the contract, allowing other bidders the right to appeal [2] Vessel Specifications - The Safe Notos, built in 2016, features significant crane capacity, an expansive open deck area, and a telescopic gangway, making it suitable for intensive offshore activities [3] Strategic Importance - The partnership with Prosafe signifies Petrobras' ongoing investment in high-quality support infrastructure, emphasizing the increasing need for enhanced safety measures in offshore operations [4]