Prosafe SE

Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. - Update on Financial Process with Lenders

Reference is made to earlier information provided about the ongoing financial

process with lenders, the latest in a press release dated 30th April 2021.

On 30 April 2021, Prosafe SE and Prosafe Rigs Pte. Ltd. had respectively filed

HC/OS 422/2021 ("OS 422") and HC/OS 425/2021 ("OS 425") for moratorium

protection in Singapore.

As part of the moratorium announced earlier, the Court has fixed a directions

hearing for both OS 422 and OS 425, to be held via Zoom on Friday, 7 May 2021 at

3pm Singapore time. Creditors who wish to attend the hearing (either in person

or through their solicitors) should inform the solicitors of Prosafe SE and

Prosafe Rigs Pte. Ltd. of their intention to do so. Creditors may do so by

emailing Mr. Elan Krishna ([email protected]

(mailto:[email protected])) and Mr. Loh Tian Kai

Cavenagh Law LLP with their details before 5pm Singapore time on Thursday, 6 May

Prosafe SE and Prosafe Rigs Pte. Ltd 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, 3 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

AI Terminal