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.
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Agenda
Highlights Q2 2022
Financial results Q2 2022
Commercial update
Status and strategy
3
Highlights - Q2 2022
Fleet utilisation and financial results
The highest quarterly fleet utilisation of 81.0 per cent (65.8 per cent) since Q3 2015
EBITDA of USD 22.8 million for the quarter (USD 18.1 million)
Cash flow from operations in Q2 was USD 0.4 million (negative USD
21.9 million). In the quarter, an increase in working capital, driven by increased accounts receivable due to improved vessel activity, offset the improved operating result
Liquidity of USD 57.6 million (USD 119.9 million) at quarter end
Book equity improved by 36% from last quarter
Operations and commercial
5 out of 7 vessels were in full operation throughout the quarter, while Safe Boreas was working part of the quarter
Good operating performance and zero incidents in the quarter
Two four-year contracts were awarded by Petrobras to Safe Notos and Safe Eurus, and a short duration contract was secured for Safe Boreas in the UK, adding approximately USD 240 million in backlog
After the quarter end, BP Trinidad and Tobago LLC exercised all four weeks of options for the Safe Concordia
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Agenda
Highlights Q2 2022
Financial results Q2 2022
Commercial update
Status and strategy
5
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Prosafe SE published this content on 19 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2022 06:53:00 UTC.
Prosafe SE is a Norway-based owner and operator of semi-submersible accommodation vessels. The fleet comprises six semi-submersible Accommodation, Safety and Support Vessels (ASVs) and one Tender Support Vessel (TSV) that can also operate as an accommodation vessel. All of the vessels offer welfare and catering facilities, storage, workshops, offices, medical services and lifesaving equipment. Prosafe SE is the parent company for the Prosafe Group. The Group is organized into one segment: chartering and operation of accommodation/service vessels. Prosafe SE has several subsidiaries, including Prosafe (UK) Holdings Limited, Prosafe Offshore Holdings Pte Ltd, Prosafe Services Maritimos Ltda and Safe Eurus Singapore Pte Ltd.
PROSAFE SE 
