Prosafe Investor Presentation — February 2019

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Q4 2018 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.

Business & Operations

Recent highlights – Q4 2018

•Utilisation of 100% owned vessels in Q4 of 63% (36.1%) – the

highest utilisation since Q3 2015. Utilisation for the full year 2018

•EBITDA before non -recurring items of USD 31.7 million (USD 29

•Cash flow from operations was USD 25.6 million (USD 44.2

million) and cash balance of USD 140.3 million (USD 231.9

million) with a total liquidity reserve of USD 277.3 million

•In January, Prosafe came first in Brazil auction. Will mobilize Safe

Eurus if contract awarded

•Safe Concordia commenced contract in Brazil

•Contract wins for Regalia in 2019 and for Safe Caledonia in 2020

•Maintenance & Modification activity returning

•Tender activity continues to pick up

Business & Operations

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