Prosafe SE

Prosafe SE: Prosafe appeals the Westcon judgement to the Supreme Court

Reference is made to press release dated 15 April 2021 in which Prosafe informed

that the Gulating Court of Appeal had decided that Prosafe had to pay Westcon

the full amount claimed by Westcon.

The Gulating Court of Appeal decided that Prosafe had to pay Westcon NOK

302,510,457 plus interest and legal costs, in total about NOK 465 million

related to the conversion of the Safe Scandinavia at Westcon yard. This was a

complete reversal of the result in the first instance by the Stavanger District

Court, where Westcon was sentenced to pay Prosafe NOK 344 million plus interest

and NOK 10.6 million in legal costs.

Prosafe has decided to address the shortcomings of the judgement by the Gulating

Court of Appeal through an appeal to the Supreme Court.

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 https://www.prosafe.com

Stavanger, 12 May 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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