Safe Boreas contract signed

21 August 2024 – Reference is made to press release dated 30 May 2024 where Prosafe announced the award of a Conditional Letter of Intent by an undisclosed client for the provision to provide gangway connected operations to support a project off the coast of Western Australia for a firm period of 15 months with up to six months of options.

Prosafe now advises that the contract has been signed. The Safe Boreas will mobilise from the North Sea within Q2 2025 and will undergo its five-yearly special periodic survey and other maintenance works prior to commencement of the contract.

The value of the contract remains at approximately USD 75 million to USD 100 million depending on options.

Terje Askvig, CEO of Prosafe says:”Formalising this contract has been a result of close and positive collaboration. Prosafe is confident that the Safe Boreas industry leading operational and safety performance will be delivered once again.”

For further information, please contact:

Terje Askvig, CEO Phone: +47 952 03 886

Reese McNeel, CFO Phone: +47 415 08 186

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 (https://www.prosafe.com/)

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Line Bliksmark, Marketing and Communications Manager, on August 21st, 2024, at 07:00 CEST.