Prosafe SE

Major Shareholding Notification • Dec 17, 2021

PROSAFE SE – DISCLOSURE OF PURCHASES OF SHARES

PROSAFE SE – DISCLOSURE OF PURCHASES OF SHARES

Stavanger, 17 December 2021

PROSAFE SE – DISCLOSURE OF PURCHASES OF SHARES

Two entities managed by HitecVision Advisory AS, North Sea Strategic Investments AS ("North Sea") and HV VI Invest Sierra Malta Ltd. ("Sierra") have, today, agreed to purchase a total of 2,446,518,123 shares in Prosafe SE ("Prosafe").

The shares have been bought from a number of Prosafe's former financial creditors who received new shares in Prosafe in settlement of their loans as per the Reconstruction Plan for Prosafe which closed on 15 December 2021.

The purchase price is USD 0.003409595 per share which, as per the prevailing exchange rate between USD and NOK, equals NOK 0.030516213.

The terms of the purchases include an obligation not to sell any of the shares acquired for a period of 12 months and an obligation to adjust the purchase price by a further payment from the buyers to the sellers if the buyers, during the next 6 months, purchases further shares from any of Prosafe's former financial creditors at a higher price than the purchase price.

North Sea already owns 15,479,410 shares in Prosafe whereafter their total holding, following the purchases, will be 1,356,909,633 shares, representing approx. 15.42% of all of the shares in issue in Prosafe.

Sierra already owns 12,752,142 shares in Prosafe whereafter their total holding, following the purchase, will be 1,117,840,042 shares, representing approx. 12.70% of all of the shares in issue in Prosafe.

The combined ownership of Sierra and North Sea will be 2,474,749,675 shares representing approx. 28.13% of the total number of shares in issue in Prosafe. Sierra and North Sea does not hold other shares or rights to shares in Prosafe other than those described in this disclosure.

North Sea and Sierra are represented in the board of directors of Prosafe by Mr. Alf C. Thorkildsen. Mr. Thorkildsen neither owns nor controls any shares in Prosafe.

This information is subject to the disclosure requirements set out in section 4-2 of the Norwegian Securities Trading Act.