Financial Performance - Prosafe SE reported Q4 2025 EBITDA of USD 21.1 million, significantly up from USD 8.4 million in Q4 2024 [1][6] - Full-year 2025 EBITDA reached USD 40.0 million, an increase from USD 27.2 million in 2024, and at the high end of the guided range for the year [2][5] - Revenues for Q4 2025 were USD 70.9 million, compared to USD 37.0 million in the same quarter last year [6] Operational Highlights - The company achieved 100% fleet utilization in Q4 2025, with all five units under contract [6] - Safe Boreas commenced operations in Australia ahead of schedule, starting full day rate from December 15, 2025 [1][6] - The backlog reached USD 428 million, including options and excluding the letter of intent for Safe Caledonia [6] Market Outlook - Prosafe is positioned for continued earnings growth in 2026, with full-year EBITDA expected to be in the range of USD 45-55 million [2][5] - The company is experiencing strong demand in the global offshore accommodation market, particularly in Brazil and Africa [6] - All high-end vessels are contracted through 2026 and into 2027, reflecting significant commercial progress [5][6]

This release contains forward-looking statements based on current assumptions and forecasts made by the Group. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the Group and the estimates given here. (Figures in brackets refer to the corresponding period last year1) 26 February 2026 – Prosafe SE reported EBITDA of USD 21.1 million (USD 8.4 million) for the fourth quarter o ...

Core Insights - The fleet utilization for January 2026 was reported at 100%, indicating strong operational performance across the company's vessels [1] - Safe Caledonia achieved 100% commercial uptime at the Captain Field in the UK, with a new Letter of Intent (LoI) from Ithaca Energy for a 6-month firm contract starting in Q2 2027 [2][3] - The company aims to capture strong market demand to grow its backlog at higher day rates while focusing on operational efficiencies and cost reductions for revenue growth and long-term value creation [4] Vessel Performance - Safe Eurus, Safe Notos, and Safe Zephyrus operated at near 100% commercial uptime in Brazil during January 2026 [1] - Safe Boreas is currently receiving full day rates and is awaiting the start of a 15-month firm period, expected to commence in Q1 2026 [2] Strategic Partnerships - The cooperation with Ithaca Energy has been positive since the contract began in August 2024, with Safe Caledonia providing high-quality accommodation support in the North Sea [3] - The company is exploring opportunities to bridge the gap until the start of the 2027 contract linked to the LoI, as well as potential contracts for 2028 and beyond [3] 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 [5]

24 February 2026 - Fleet utilisation for January 2026 was 100%. In Brazil, Safe Eurus, Safe Notos, and Safe Zephyrus continued to operate at full capacity in January, delivering near 100 % commercial uptime. Safe Caledonia maintained 100% commercial uptime at the Captain Field in the UK. The vessel ended the contract for Ithaca Energy on 22 February 2026 following the exercise of all option periods. The vessel has a Letter of Intent (LoI) from Ithaca Energy for 6 months firm and 3 months of options from t ...

Fleet Utilization - Fleet utilization for December 2025 was 100% with vessels in Brazil, including Safe Eurus, Safe Notos, and Safe Zephyrus, operating at near 100% commercial uptime [1] Contractual Agreements - Safe Caledonia maintained 100% commercial uptime at the Captain Field in the UK and is contracted until 22 February 2026, with a Letter of Intent (LoI) from Ithaca Energy for an additional 6 months firm and 3 months of options starting in Q2 2027 [2] - Safe Boreas has received full day rate from 15 December and is awaiting the start of a 15-month firm period, expected to commence in Q1 2026 [2] Operational Strategy - The company emphasizes consistent high gangway uptime and safe operations across its fleet, aligning with its strategy to provide world-class offshore accommodation services [3] - The CEO of Prosafe highlighted a focus on capturing strong market opportunities by extending backlog at higher day rates and achieving operational efficiencies to drive revenue and EBITDA growth [4] 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 [5]

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's fleet achieved 100% utilization in November 2025, with vessels in Brazil maintaining near 100% commercial uptime [1] - The company has secured contracts and Letters of Intent (LoIs) that provide visibility into future revenues and operational efficiency [2][4] Fleet Performance - Safe Eurus, Safe Notos, and Safe Zephyrus operated at full capacity in Brazil, with the Special Periodic Survey (SPS) for Safe Zephyrus postponed to 2026 [1] - Safe Caledonia maintained 100% commercial uptime at the Captain Field in the UK, with a contract extended to early February 2026 and a potential new contract valued between USD 30 million to USD 44 million expected in Q1 2026 [2] Future Contracts and Opportunities - Safe Boreas has commenced operations in Australia, with a 15-month firm period starting upon gangway connection expected in Q1 2026 [3] - The CEO of Prosafe highlighted the company's focus on capturing strong market opportunities, extending backlog at higher day rates, and achieving operational efficiencies for future revenue and EBITDA growth [4]

Core Insights - The fleet utilization for October 2025 was reported at 100%, indicating strong operational performance across the vessels [1] - Prosafe's fleet, including Safe Eurus, Safe Notos, and Safe Zephyrus, achieved near 100% commercial uptime in Brazil, while Safe Caledonia maintained 100% uptime in the UK [1][2] - The company has the highest backlog in a decade, with all high-end units contracted into 2027, providing good visibility on future activity and earnings [4] Company Performance - Safe Boreas is preparing for a 15-month firm contract in Australia, with a start-up window between December 10 and December 15, 2025 [2] - The extension of Safe Caledonia's contract into early 2026 validates its capabilities during harsh winter conditions in the North Sea, with expectations for further work in 2026 and 2027 [3] - CEO Reese McNeel emphasized the strong foundation for optimizing the organization and cost base, leveraging a robust global accommodation market, particularly in Brazil [4] Market Outlook - The company is positioned to secure employment for 2027 and beyond, driven by a strong global accommodation market [4] - The operational performance and high backlog suggest a positive outlook for the company's earnings and activity levels in the coming years [4]

Core Insights - The fleet utilization for October 2025 was reported at 100%, indicating strong operational performance across the vessels [1] - Safe Caledonia has achieved 100% commercial uptime at the Captain Field in the UK, with an extension of work options until early February 2026 [1][3] - Prosafe's fleet is experiencing high gangway uptime and safe operations, with Safe Boreas preparing for a significant contract in Australia starting between December 10 and 15, 2025 [2] Operational Performance - Safe Eurus, Safe Notos, and Safe Zephyrus operated at near 100% commercial uptime in Brazil during October [1] - The extension of Safe Caledonia's contract is seen as a validation of its capabilities during harsh winter conditions in the North Sea [3] Future Outlook - Prosafe has the highest backlog in a decade, with all high-end units contracted into 2027, providing good visibility on future activity and earnings [4] - The company is positioned to optimize its organization and cost base while capitalizing on a strong global accommodation market, particularly in Brazil, to secure employment for 2027 and beyond [4]