Prosafe Investor Presentation — August 2018

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- Transforming agreement with COSCO and Lenders 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 “anticipate” or similar expressions, or

the negative thereof, or other variations thereof, or comparable terminology, or by

discussions of strategy, plans or intentions. Should one or more of these risks or

uncertainties materialize, or should underlying assumptions prove incorrect, actual

results may vary materially from those described in this presentation as anticipated,

believed or expected. Prosafe does not intend, and does not assume any obligation

to update any industry information or forward -looking statements set forth in this

presentation to reflect subsequent events or circumstances The Prosafe transformation 2018

The COSCO agreement

Debt facilities enhancements

4 The Prosafe transformation 2018

Positioning for the next phase

Continuation of fleet modernisation Debt Facilities Enhancements Yard financing raise

oNew financing of USD 431.2m for the

takeout of the 3 new Cosco units

oRepayment of yard financing

through a 50/50 profit split

oLow minimum debt service scalable

oInterest free first two years after

delivery, thereafter interest is based on

oFlexible delivery up to 5 years and

ultimately option to not take delivery of

rigs oLiquidity: Amortization relief of USD

156m (in addition to amortization relief

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