Prosafe Investor Presentation — February 2018

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Q4 2017 results and market update 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 materialise, 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.

2 Q4 2017 Highlights

Good operating performance

Utilisation of 36.1 per cent in the quarter (43 per

Operating revenues at USD 76.7 mill.

Cash flow from operations at USD 44.2 mill.

Delivering on cost and capex reductions. Focus on

continuous improvement remains

Business development presence established in

Positive macro indicators

Foresee gradual pick -up in accommodation

Business & Operations

(Unaudited figures in USD million) Q4 17 Q3 17 Q4 16 2017 2016

Operating revenues 76.7 68.9 125.8 283.0 474.0

Operating expenses (36.6) (41.3) (47.8) (160.1) (220.8)

EBITDA 40.1 27.6 78.0 122.9 253.2

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