Prosafe has been declared the winner of a bidding process for a four-year
contract by Petróleo Brasileiro SA ('Petrobras') for the provision of the Safe
Notos semi-submersible vessel for safety and maintenance support offshore
Brazil. Contract award and timing are subject to a formal process during which
Petrobras is under no formal obligation to conclude a contract and other bidders
may appeal.

A contract, if awarded, has a firm period commitment of four years with the
operational commencement in September 2026 closely following on from the expiry
of the current Safe Notos contract that commenced in Q3 2022.

Total value of the contract is approximately USD 204 million.

The Safe Notos is a Dynamically Positioned (DP3) semi-submersible safety and
maintenance support (UMS) vessel, capable of operating in harsh environments.
The Safe Notos can accommodate up to 500 persons, has extensive recreation
facilities, a large crane capacity, large open deck area and a telescopic
gangway.

Terje Askvig, CEO of Prosafe says:?"The tender process with Petrobras resulted
in the Safe Notos being best placed, and after a qualification and negotiation
phase we are very pleased to be declared the winner. The Safe Notos is one of
the best performing UMS vessels for Petrobras, consistently delivering safe and
reliable operations. The contract, if awarded, demonstrates that the market is
strong in Brazil, with charter rates significantly increasing from those in the
recent past.

Prosafe will continue to be the leading provider of UMS vessels in Brazil and is
well positioned to increase its market share through continued best-in-market
delivery, close and valued partnership with Petrobras, and having units capable
of meeting all the requirements set out by both Petrobras and regulators."

For further information, please contact:

Terje Askvig, CEO
Phone: +47 952 03 886

Reese McNeel, CFO
Phone: +47 415 08 186

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act