Prosafe SE

Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. - Update on the scheme documents

Reference is made to the earlier information provided about the ongoing

financial process with the lenders, in particular the press release dated 18

August 2021 in relation to notice of the Scheme Meetings pursuant to Section

210(1) of the Singapore Companies Act, for the purpose of considering and, if

thought fit, approving (with or without modifications) the Schemes proposed to

be made between Prosafe SE ("PSE"), Prosafe Rigs Pte. Ltd. ("PRPL") and their

respective Scheme Creditors.

This announcement is to notify you that certain amendments have been made to the

Scheme Documents. The following documents can be downloaded from Clifford Chance

Pte. Ltd.'s virtual data room, which can be accessed at this link

(https://highq.in/ebfdj1rur5) for your information and to assist you in your

consideration of the Scheme(s):

1. PSE Supplementary Explanatory Statement, appending the updated versions of

the following:

a) PSE Scheme Document

b) Restructuring Implementation Deed

2. PRPL Supplementary Explanatory Statement, appending the updated versions of

the following:

a) PRPL Scheme Document

b) Restructuring Implementation Deed

3. Comparisons of the updated documents against the previous circulation on 18

August 2021.

Please contact Clifford Chance Pte. Ltd. if you experience any difficulty in

accessing the documents, or have any queries, at the following email address -

Prosafe SE and PRPL will make the appropriate announcements as and when there

are any further material developments on the financial process and the matters

above. Please monitor Prosafe SE's website for any announcements or update on

the process.

Prosafe is a leading owner and operator of semi-submersible accommodation

vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS.

For more information, please refer to www.prosafe.com (http://www.prosafe.com)

Stavanger, 28 September 2021

Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO

Phone: +47 51 65 24 30 / +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO

Phone: +47 51 64 25 17 / +47 478 07 813

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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