Prosafe Investor Presentation — November 2017

Document content

Q3 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.

Financial results and guidance

Plan the work – work the plan

Good operating performance

Utilisation of 38.9 per cent in the quarter (52%)

Impairment of goodwill, older vessels and Safe

Safe Boreas commenced firm 13 -month contract

early -August for Statoil at Mariner in the UK

Delivering on cost and capex reductions. Focus on

continuous improvement remains

No Lost Time Injury (LTI) in the quarter

Financial results and guidance

Plan the work – work the plan

(Unaudited figures in USD million) Q3 17 Q2 17 Q3 16 9M 17 9M 16 2016

Operating revenues 68.9 61.7 129.8 206.3 348.2 474.0

Operating expenses (41.3) (37.3) (61.5) (123.5) (173.0) (220.8)

Preview truncated — download the full document for the complete content.